Abstract:
Effective shareholder control over the board of directors is patently in the interests of
good corporate governance, accountability and transparency. In recognition of this
modern reality, the policy focus in company law has shifted to encouraging
shareholder participation and shareholder engagement in corporate affairs. Bearing
in mind that very few shareholders of large public companies attend meetings in
person, proxy voting is of vital importance to corporate democracy. This article
discusses enhanced rights conferred by the Companies Act 71 of 2008 in relation to
shareholder proxies who attend, speak and vote at shareholders’ meetings. It also
considers the pressing practical question whether companies may impose a cut-off
time for the lodgement of shareholder proxies.
