Non-Objecting Beneficial Owners (NOBO) and Objecting Beneficial Owners (OBO)Mailing Services
Under NI 54-101, you can directly manage delivery of your proxy materials to all of your NOBO securityholders.
When you choose our NOBO service, we will:
- Obtain the required NOBO data file
- Decrease the participant accounts and credit the NOBO holder positions
- Create the required Voting Instruction Form (VIF)
- Set up the web/IVR voting
If you require a NOBO list or if Computershare is facilitating your NOBO mailing, you will be required to complete the Undertaking Form for us to obtain the NOBO data on your behalf. Computershare will receive the Participant Listing on your behalf through our online participant data feed with CDS.
National Instrument 54-101 allows for the issuers to choose whether or not to pay for the mailing costs to send proxy materials to Objecting Beneficial Owners (OBOs). The Issuer can choose whether they wish to pay for the mailing costs associated with sending proxy material to OBOs, however, they are still required to provide material. In circumstances where the Issuer is concerned that it may be difficult to reach quorum, or where resolutions require a high percentage to pass, the Issuers may choose to pay any associated costs to send materials to OBO holders.
If you decline to pay the mailing costs to your OBO holders, you are still required to make the proxy material available and disclose the information within the Information Circular.
The Issuer is also permitted to indicate how much you are prepared to pay on a per OBO basis.
If you choose not to pay the mailing costs, the material may still be delivered to the OBOs provided the intermediary assumes the costs of delivery.