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LONDON, March 13, 2023 /PRNewswire/ Investors who hold shares in Australian and New Zealand companies through nominees such as a custodian have only five to seven days on average to lodge voting instructions in time for the deadline ahead of shareholder meetings, according to new research. The report, 'Proxy Transformation in Australia and New Zealand', provides key statistics relating to proxy voting as well as compiling answers and information from 89 issuers, intermediaries and investors. It shows that proxy voters have on average 21-23 fewer days to vote or confirm attendance at a meeting than those who hold their shares directly. 60% of institutional investors said they lack the time to properly fulfil their stewardship responsibilities, while 75% of issuers said that they have seen cases of 'lost' votes - where shareholders say they have put forward their votes but they do not emerge from the chain - with 61% also saying they have seen meeting notices fail to re

New zealandCity ofUnited kingdomPaul connSian mathesonAustralian custodial services associationIssuer servicesAustralasian investor relations associationProxy transformationNew zealandGlobal capital marketsMarch 13023 prnewswire investors who hold shares in australian and new zealand companies through nominees such asa custodian have only five to seven days on average lodge voting instructions time for the deadline ahead of shareholder meetingsCcording to new research the report9 proxy transformation in australia and new zealand 39Rovides key statistics relating to proxy voting as well compiling answers and information from 89 issuers