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January 21, 2021
BUSINESS BUSINESS COMPANIES ECONOMY

eVote holds the first fully electronic General Shareholders Meeting in Romania

eVote, an online platform that allows companies listed on a stock exchange to organize digital General Shareholders Meeting (GSM), announces it has successfully managed a fully-electronic GSM for Bittnet Group, an IT company quoted on the Main Market of the Bucharest Stock Exchange. The GSM of Bittnet Group, held on November 26th, 2020 was the first fully-electronic meeting ever organized in the Romanian capital market.

“We are pleased that eVote was the first platform to organize a truly digital GMS of a company listed on the Bucharest Stock Exchange. Technology is a powerful tool that can bring multiple benefits to both investors and listed companies. Especially in the context of COVID-19 pandemic, eVote can be a useful solution for companies to ensure the necessary quorum, while respecting legal requirements and norms of civic responsibility” said Mihai Chisu, CEO at eVote (photo).

The eVote platform allows the transmission of the GMS through an audio-video stream, one-click voting, online questioning, respectively, the recording of points of view in the minutes. eVote was used for the first time during the Ordinary and Extraordinary General Meeting of Shareholders of Bittnet Group. Benefitting from the platform, Bittnet registered a record number of participants in a single AGA, with over 250 shareholders expressing their voting options by live online, or by mail. The benefit of the platform is that it accommodates all forms of participation in the GMS as the voting options can be expressed both physically and electronically, by correspondence, in-person or live online.

“eVote promotes fairness, transparency and accountability of listed companies to its shareholders – values that are of utmost importance to all the investors. On top of corporate governance, eVote has significantly increased our shareholder turnout, which was important to us given the important items on the agenda that were put to vote, such as the approval of the issuance of preferential shares. We salute eVote for building a platform that allows companies listed on the Bucharest Stock Exchange to benefit from the wonders of the modern technology while observing the highest standards in investor relations”, said Cristian Logofatu, co-founder at Bittnet Group.

eVote is a technology platform, developed by three Romanian entrepreneurs, specialists in capital markets and IT – Mihai Chisu, Bogdan Iliescu and Ionut Albu. The solution facilitates remote as well as in-person participation and voting of the shareholders in GSM organized by listed companies. Historically, to vote in Ordinary and Extraordinary Shareholder Meetings, investors had to participate either in person or by correspondence, sending their votes via post or by email. The process was burdensome and discouraging, especially small shareholders. With eVote solution, shareholders can attend GSM from anywhere in the world and no longer need to cover extra costs related to participating in meetings in person. At the same time, companies can benefit from significantly higher voter turnout and quorum.

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