Voting rights determine inclusion of underlying shares in public shareholding and impose equivalent obligations on holders. Foreign depositories may exercise voting rights attached to securities represented by depository receipts. Underlying shares are included in the public shareholding of the issuer only if the depository receipt holder has the right to issue voting instruction and the receipts are listed on an international exchange. If those conditions are not met, the underlying shares are excluded from total and public shareholding calculations. A depository receipt holder with the right to issue voting instruction incurs the same obligations as a holder of the underlying equity shares.