What is a proxy?

A proxy is a person who is designated to be the representative and decision-maker on behalf of other people. In the Syndicates context, once the round closes, SeedLegals MPL Nominees will hold the legal title to the shares on behalf of all Syndicate investors, but we will be appointing the Lead as our proxy in all communications with the investee company. This means that the Lead will be able to do the following on behalf of SeedLegals MPL Nominees:

  • vote, attend, speak, ask questions and demand a poll at any general meeting of the investee company, as well as sign any members’ written resolutions;
  • propose a resolution or an amendment to a resolution; and
  • receive, on our behalf, any and all documents, notices and requests sent by the investee company to its shareholders or to us specifically.

The Lead will do so after consulting with the Follow investors and then implementing their collective decision to vote or act in a certain way.