Philippine Shareholders May Opt to Vote Remotely Amid Virus

(Bloomberg) --

The Philippine Stock Exchange said shareholders of publicly-listed companies may opt to vote on key corporate decisions remotely.

“In light of public health concerns relating to the COVD-19 outbreak, the Exchange is formulating measures to prevent further spread of the virus,” it said in a memorandum on March 9.

Shareholders have the right to vote through remote communication when authorized in the company’s by-laws or by a majority of its board of directors, the exchange said.

The business outsourcing industry, which employs about 1.3 million, will implement measures to cope with the outbreak such as flexible work arrangements, the IT & Business Process Association of the Philippines said in a separate statement.

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