The annual proxy for this owner of financial and commodity exchanges had the following proposals:
- Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote
- Shareholder proposal on simple majority voting
Magni voted as follows:
- For and against proforma proposals.
–For directors – The disclosures meet the criteria in Magni’s policy on election of directors.
-For auditors – The company meets the criteria in Magni’s policy on auditor ratification.
-Against advisory vote – The disclosures in the proxy did not meet the criteria in Magni’s policy on the advisory vote.
- Against shareholder proposal on simple majority voting – The shareholder proposal incorrectly claims that the company has supermajority requirements. It does not. There are no alleged problems with the current system of voting. If the company has supermajority requirements or if some deficiency was identified in the current procedures, we would vote for the proposal.