Proxy Protocol was initially developed in 1991 by the Securities Transfer Association of Canada ("STAC") to provide guidelines to people who are appointed to review, validate, and tabulate proxies for shareholder meetings of Canadian corporations.
As a result of changes and advancements in the financial services industry, Proxy Protocol has been through various updates since its inception. Additions include guidelines around voting processes for beneficial shareholders, telephone and internet voting, scanned and e-mailed votes, and universal proxies.
The most current version of Proxy Protocol can be found on the STAC website at www.stac.ca.
As set out in Section G2 of Proxy Protocol, there are three options for the treatment of over-votes received by the tabulator. Computershare follows the option set out in G2 (i), which provides the ability to "pro-rate the vote on all the proxies received on each item on the securities entitled to be voted". If you would like to review examples and impacts of the various methods of treating over-votes, please click here.
If you would like over-votes on your meeting to be managed following one of the other options, please contact your Relationship Manager.