Topic: Rules of Issuing Preference Shares
"Rules of Issuing Preference Shares" was the title of the second awareness workshop held by the CMA on Tuesday 27/1/2015. The workshop is part of the Awareness Workshop Programme of the first quarter of 2015. It tackled the issue of the rules regulating the issuance and the transactions of the Preference Shares. The aspects discussed were as follows:
- The CMA's responsibility towards the Preference Shares, and the scope of their application.
- Types of Preference Shares, and their issuance.
- The basic conditions for the issuer and the issuance.
- The forms of the Expert Investors, and the tasks of the Issue Advisor.
- The prospectus and its conditions.
- The Preference Shares classification and the rights of their holders.
- Amending the shareholders' rights.
- Redeemable Preference Shares and the ones that may be transferred.
- The continuous liabilities towards the Preference Shares and the required notifications.
- Mr. Mubarak Alrefaei : Director of Corporate Finance and Governance Department
- Mr. Waleed Al-Owaiyesh : Manager of Issuance and Subscription Section