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Internet proxy voting withdrawn
Australian Wool Innovation Limited (AWI) has today withdrawn Internet proxy voting for the 2004 Annual General Meeting (AGM) as a result of concerns over the security of the system.
AWI Chairman Ian McLachlan said concerns had been raised regarding the security of the system and after investigating these concerns it had been decided it should be withdrawn.
“We have to be 100 per cent certain about the security of the voting process,” Mr McLachlan said.
“The question of security has been raised because there are a number of people who have legitimately had access to Shareholder Registration Number (SRN) information.”
Although the same Internet proxy voting system is used by many other companies and complies with corporations law, the nature of AWI’s Director nomination processes requires that additional security be built in.
Mr McLachlan said the company was investigating a case where an SRN may have been fraudulently used for the purpose of Internet voting.
“Unauthorised use of an SRN for voting is illegal and fraudulent – the company and shareholders must have absolute confidence in the integrity of the voting system and this is why we have withdrawn the option of Internet proxy voting,” he said.
About 100 Internet proxy votes had been lodged and these shareholders will be contacted and given the opportunity to re-cast their vote.
Shareholders will still be able to vote by proxy via fax or post, or in person at the AGM in Ballarat on 19 November.
Proxy votes must be received by ASX Perpetual no later than 2pm (AEDST) on 17 November 2004.
Mr McLachlan said the company was committed to electronic voting in the future, provided a fully secure system could be developed.
Ends
Released by AWI Program Manager Communications, Megan Ball
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