On 1 April 2022, Euronext Securities Milan introduced a value-added solution for managing the full lifecycle of general meetings, shareholder register and proxy voting sessions. In this article, we look at how the register and AGM services have evolved since the solution’s launch last year, and what issuers can expect for the 2023 AGM season.

Acquisition paves the way for new value-added services

In March 2022, Euronext Securities Milan and Spafid announced a strategic partnership, where Euronext Securities Milan acquired Spafid’s general meeting and shareholder registry activities for approximately 200 clients. By adding shareholder registry, proxy voting and assistance to its portfolio of services, Euronext Securities Milan is now able to manage the entire shareholder participation process for its clients. As part of the agreement, the Spafid team responsible for the acquired activities transferred to Euronext Securities Milan, ensuring a smooth transition for existing clients.

Shortly after the partnership announcement, the 2022 AGM season commenced. Despite the relatively short time involved, the new Euronext Securities Milan team carried out a successful AGM season, completing 100-120 meetings in four days. This included supporting several AGMS that had to be held virtually due to pandemic restrictions. The new value-added service has been well received by issuers throughout Italy and has already grown by 5-7% in the 10 months since its launch.

Clients benefit from integrated approach  

Combining shareholder meeting, proxy voting and shareholder registry management with CSD services offers issuers several advantages. Many issuers were already Euronext Securities Milan’s clients in connection with issuing their securities. Now they can work directly with the CSD to manage their shareholder registry as well. Clients also experience that registry updates are processed more quickly, now that the information gathering and processing are all handled in one place. New listed companies also benefit from working with one provider to dematerialise their securities and maintain both bond and equity registries. Clients also have a single point of contact – a dedicated Relationship Manager – handling everything related to Euronext Securities Milan, from dematerialisation to AGMs.

According to Pierluigi Dimonopoli, Head of Business Development Issuers at Euronext Securities, this approach highlights the company’s commitment to assisting issuers in accessing the capital markets with ease and expertise. “Our new client-focused model ensures that corporates have a dependable partner to manage the issuance of digital assets and related regulatory obligations resulting from dematerialisation.”

Everything issuers need for the 2023 AGM season

The 2023 AGM season will see the return of in-person general meetings. Many issuers are interested in finding an AGM partner that can assume responsibility for all aspects of the AGM, from the initial planning and set-up to event execution and follow-up; a partner familiar with the security and shareholder verification aspects of AGM events. This is where Euronext Securities Milan is uniquely positioned to help. Partnering with Euronext Corporate Services, we can offer issuers full end-to-end solutions tailored to support investor relations activities, as well as solutions for communication, compliance and corporate governance to support their strategic ambitions.

Before the AGM

In the months or weeks leading up to the general meeting, Euronext Securities Milan works with issuers to find the event location, set up the room and voting booths and build the necessary technical infrastructure. Through Euronext Corporate Services, clients can also choose a virtual or hybrid AGM format, access shareholder analysis services and participate in AGM training programmes. Companies can even book an event space in Palazzo Mezzanotte in Milan, which is fully integrated with web streaming services and satellite uplinks to transmit the meeting globally.

During the AGM

During the meeting, Euronext Securities Milan provides technical assistance; verifies participants, including performing identity and security checks, and verifying voting rights; and monitors the quorum.

After the AGM

Once the general meeting has been held, Euronext Securities Milan continues to work with issuers and companies to develop, publish and distribute meeting minutes and reports.

From market infrastructure to trusted institutional partner

This complete portfolio of AGM and proxy voting services is an excellent example of how Euronext Securities works with its clients to develop value-adding issuer services that meet their needs, as Pierluigi Dimonopoli points out. “Euronext Securities has transitioned from market infrastructure to become a trustworthy institutional partner for corporates seeking to access capital markets and dematerialisation,” he says. “Our comprehensive one-stop-shop solution, in partnership with Euronext Corporate Services, enables issuers to optimise their AGMs and enhance shareholder engagement through effective tools for investor relations, communication, compliance and governance.”

To find out more about how Euronext Securities Milan’s shareholder registry and AGM services can benefit your organisation contact Pierluigi Dimonopoli, Head of Business Development Issuers: Pierluigi Dimonopoli and Simone Canova, Manager Business Development Issuers: Simone Canova

The first climate-oriented index within the CAC family.

The CAC^® SBT 1.5° Index is a climate-focused index that aims to lead the way to a zero-carbon economy, boost innovation and drive sustainable growth by setting science-based emissions reduction targets.

The Science Based Targets (SBT) initiative help companies to set ambitious corporate climate action.

CAC SBT 1.5 index Key principles

The CAC^® SBT 1.5° tracks companies within the SBF 120 Index that have emissions reduction targets approved to be in line with the 1.5°C goal of the Paris Agreement.

Companies facing an ESG controversy rating of category High or Severe, or that are not compliant with the UNGC principles, as assessed by Sustainalytics, are not eligible for the index (tobacco products production and related products/services, tobacco products retail, controversial weapons, shale energy extraction, oil sands extraction, arctic oil & gas exploration extraction, thermal coal extraction and power generation, small arms).

Exclusion of companies based on temperature assessment is also applicated.

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The CAC SBT 1.5° index offers opportunities for a large range of investment vehicles

such as ETFs, funds and structured products.

Learn more about CAC SBT 1.5:

CAC SBT 1.5 LIVE QUOTES 

CAC SBT 1.5 Index Rules   |   CAC SBT 1.5 Factsheet

CAC SBT 1.5 ESG Report   |   CAC SBT 1.5 Index brochure 

CAC SBT 1.5 Press Release

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The national ESG blue-chip index dedicated to the Dutch market.

Serving as the new Dutch ESG index reference

The AEX^® ESG Index is designed to identify the 25 companies in The Netherlands which manage their ESG risk well, by combining economic performance with Environmental, Social and Governance (ESG) considerations.

This index is also built with a local focus in mind combining a Dutch footprint and global reach and is the first ESG-related index within the AEX family.

The methodology with globally recognised standards was created for the Dutch market to serve as the new national ESG reference.

AEX ESG Index methodology

The AEX ESG Index methodology includes exclusions filters with regards to the United Nations Global Compact (UNGC) principles: companies with involvement in Thermal Coal, Oil Sands, Shale Energy, Controversial Weapons, Small Arms and Tobacco are excluded.

Sustainalytics ESG Risk Ratings measures the degree to which the value of a company is at risk from environmental, social and governance (ESG) factors.

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The AEX ESG offers opportunities for the creation of a large range of investment vehicles such as ETFs, funds and structured products.

Learn more about AEX ESG:

AEX ESG Live quotes

AEX ESG Index Rules   |   AEX ESG Factsheet

AEX ESG ESG Report   |   AEX ESG Press Release

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Euronext ESG Blue-chip indices

The AEX^® ESG index is a key component in a broader suite of flagship ESG indices across the Euronext geographies.

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