General meetings & proxy voting and guidelines
Proxy voting in Germany
Investors from abroad who cannot attend a German general meeting in person but would like to exercise their voting rights can give a proxy to another person, to a shareholder association or to a bank.
DSW has around 70 years of experience as independent proxy voting agent in Germany.
In order to represent its members DSW sends a representative to each German general meeting to participate in the discussion and exercise the voting rights for other shareholders. The attendance in the general meeting allows us to provide investors with a vote confirmation after the meeting.
If you are interested in exercising your votes through DSW, one of the few independent proxy agents in Germany, then you simply have to take the following two steps, depending on the share class.
Bearer shares
Step no. 1: Instruct your bank to send the confirmation of ownership on the record date (21 days ahead of the meeting), which has to include the number of shares held (via your deposit bank) to the company, at the latest 7 days before the meeting. The invitation to the general meeting contains the exact dates.
Step no. 2: Instruct your bank to send the ballot directly to DSW as your German proxy agent. Complete and sign the DSW proxy form and send it to DSW.
E-Mail: regina.birkelbach@dsw-info.de
Fax: +49 211 669790
Registered shares
Step no. 1: If you are registered in the company's share register you will receive the request for the admission ticket directly from the company. Simply check the box "Request and Admission Card for a Proxy to Exercise the Voting Right" and enter as proxy: DSW e.V., Peter-Müller-Str. 14, 40468 Düsseldorf, Germany". Then also check the box: "Power of Attorney and Instructions for a Shareholders’ Association", enter as proxy "DSW, Düsseldorf", sign the proxy form and return it to the company up until 3 days before the general meeting. The invitation to the general meeting contains the exact date.
Step no. 2: Send the request for the admission ticket (request form) to the company. In case you would like DSW to follow your specific voting instructions, please send a copy of the request form to DSW.
E-Mail: regina.birkelbach@dsw-info.de
Fax: +49 211 669790
Due to German law shareholder associations such as DSW are obliged to act in the interest of the shareholder. If you send us any specific voting instructions we will act in full compliance with these.
Proxy voting abroad
DSW not only represents your voting rights at around 700 general meetings in Germany.
Via Better Finance, DSW offers shareholders the opportunity to exercise their voting rights at general meeting of European large cap companies via a competent and knowledgeable proxy.
Stewardship service
DSW offers broad stewardship services for institutional and professional investors from all over the world.
Our services include:
- Electronic voting platform for German general meetings
- Voting advice for all listed companies in Germany
(based on DSW's Voting Guidelines or your own guidelines) - International voting advice via ECGS Expert Corporate Governance Services (based on ECGS’ Guidelines or your own guidelines)
- Engagement in key issues of corporate governance, such as pay and board independence
- Direct approach of the management
- Preparation and support by taking shareholder actions such as countermotions or special audits
- Reports on all German general meetings
- Reports on data such as voting outcomes and turnouts
- Training programs for all Corporate Governance issues in Germany
- Class action claim filing and information service
Interested investors may wish to contact Christiane Hölz for further information.
DSW Voting Guidelines
The German Corporate Governance Code sets standards for Corporate Governance in Germany. It is at the same time the key guideline for DSW’s voting recommendations. Beyond the official Code, DSW developed its own Voting Guidelines to be transparent towards investors how we exercise voting rights for our members and other investors or representatives.
Our Voting Guidelines are updated annually and cover recurring proposals at German General Meetings, like for instance the discharge of management and supervisory board, capital measures, share repurchases or board elections.
If you are interested in the DSW Voting Guidelines, please contact us via E-Mail.