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CCGG Recommends Universal Form of Proxy

September-29-2015

Area Corporate Finance and Securities, Shareholder Rights and Activism

Summary

Following on its proposal for enhanced proxy access published earlier this year (see our May 29, 2015 Update, CCGG Proposes Enhanced Proxy Access Rules), the Canadian Coalition for Good Governance (CCGG) has published a Universal Proxy Policy encouraging:

  • the use of a universal proxy, which lists the names of all director nominees (whether nominated by the issuer or by dissident shareholders) on a single proxy form, in contested director elections of Canadian public companies, and
  • changes in corporate and securities laws to make such universal proxies mandatory.

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