Re: Directive of the European Parliament and of the Council on the exercise of voting rights by shareholders of companies having their registered office in a Member State and whose shares are admitted to trading on a regulated market and amending Directive 004/109/EC
Dear Mr. Lehne,
We are writing on behalf of the International Corporate Governance Network (ICGN) to express our appreciation for the excellent work of the Commission of the European Communities (the Commission) in the preparation of the proposed Directive on shareholder rights (the Directive). In addition, we would like to offer some suggestions that we believe could improve the Directive and help the Commission achieve its goal of facilitating the exercise of shareholder rights and eliminating obstacles to cross-border voting.
The ICGN is a global membership organization of more than 400 institutional and private investors, corporations and advisors from 38 countries with capital under management in excess of $10 trillion. The ICGN is a global leader in promoting good corporate governance and fair treatment of equity investors around the world.
Information about the ICGN, its members and its activities is available at our web site, www.icgn.org. The ICGN’s Committee on Cross-Border Voting Practices and its Committee on Shareholder Rights, chaired by the undersigned, have reviewed the Directive in detail.
See full Comment Letter.
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