Brussels, 15 February 2007
Commissioner Charlie McCreevy welcomes European Parliament vote on Shareholder Voting Rights in first reading
"I am very happy that the European Parliament reached agreement in a single reading today on the proposal for a Directive on shareholder voting rights.
The package that is now on the table contains very effective solutions to the issues. The problems that had led the Commission to submitting its proposal for a directive were in principle very simple problems: Shareholders so far do not receive the information on general meetings in time, they cannot trade their shares for a certain time period ahead of the meeting if they want to vote and they often would have to go in person to general meetings, even if these meetings take place in another Member State, as there are no effective rules on representation and distant voting.
This agreement moves us one step further towards our goal which is to ensure that shareholders, no matter where in the EU they reside, have timely access to complete information and simple means to exercise certain rights – notably voting rights – at a distance. I am now looking forward to the forthcoming discussion in the Council of Ministers next Monday."