NEW YORK, New York -- January 17, 2007 -- ADP Investor Communication Services, a division of Automatic Data Processing's (NYSE: ADP) Brokerage Services Group, announced today the expansion of its Voting Confirmation Program.
The integrity of the proxy process depends on voting information arriving in the hands of the shareowners in time for materials to be reviewed, voting selections to take place, and votes to be cast. Most importantly, it relies on those responses being tabulated accurately and in time to be represented at the company's annual meeting. With the expansion of this program, all institutional investor clients using ADP's ProxyEdge® platform will be provided confirmation that their votes were represented at the shareholder meetings where ADP provides tabulation services. With vote confirmation, investors can feel confident that the votes they cast have been represented and accounted for at the shareholder meeting.
ADP recognized the need institutional voters had for an even greater level of confidence that their votes were being represented at shareholder meetings and responded to that need by developing a confirmation mechanism for all clients that use its ProxyEdge electronic voting platform. ProxyEdge is an internet-based tool that allows institutional investors to manage, track, reconcile and report their proxy voting through electronic delivery of ballots, online voting, and SEC compliant reporting and record keeping. This new feature on the voting platform has never been available before, and is something ADP is well positioned to offer, given its unique role in the proxy process. Once the confirmation process is complete for a meeting, ADP presents a vote confirmation indicator on ProxyEdge.com.
"The expansion of this program will enable ADP's institutional investor clients to benefit from a reliable, transparent confirmation process and feel confident that every vote will count," said Bob Schifellite, Senior Vice President and General Manager of ADP Investor Communication Services.
ADP initially introduced its pilot vote confirmation program for the US 2006 proxy season to the institutional investors of participating custodians in April 2006. Now, ADP has expanded the program to all interested custodians in time for use during the 2007 proxy season.