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Net firm in warning on electronic voting

Hopes that electronic voting will pave the way for major improvements in

UK corporate governance have been dashed in a report sponsored by

shareholder voting service E-vote.

While electronic voting is due to become legal in the UK later this year,

E-vote warns that millions of these votes could be excluded under arcane UK

company law regulations.

Under current law, proxy votes may be added up but only count if a

sufficient number of shareholders demand a formal poll. In the UK, nearly

all resolutions at annual meetings are decided by a show of hands.

Standard Life&#39s vote on demutualisation takes place on June 27 and

Standard Life Members&#39 Action Group and E-vote are urging policyholders to

use their pos-tal ballot.

E-vote Robert Hayim managing director of E-vote said: “The rules on proxy

voting have changed little since Dickens and Queen Victoria and have no

relevance to 21st century business.”

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