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Title: Circular No. (10) of 2022 to All Listed Companies in the Premier Market in Boursa Kuwait Regarding Providing the Electronic System of Participation
Date Publish
07 September 2022
Within the framework of the Capital Markets Authority’s (CMA) continuous endeavor to provide protection to public investors, and enhance the effective participation of all investors in general assemblies of listed companies. And based on Resolution No. (139) of 2022 Regarding Developing the Mechanism of Participating in the General Assemblies of the Companies Listed in Boursa Kuwait Securities Exchange, specifically Article (1-11) of Module Twelve of the Executive Bylaws which stipulates the following:
“Listed Companies may use the electronic system to attend the general assemblies.
In order to achieve its objectives, especially within the context of protecting minority interests, the Authority may obligate whomever it deems appropriate from the Listed Companies to use the Electronic System of Participation.
In all cases, the right to attend and vote through the electronic system is for the shareholders registered in the company’s registries at the end of the tenth Business Day preceding the date of the general assembly.”
All companies listed in the premier market shall use the electronic system of participation provided by the Kuwait Clearing Company to enable the shareholders to participate in the general assembly without their presence in person, for all general assemblies that will be held as of 02/10/2022.
The CMA also urges all listed companies in the premier market to provide the system referred to in this circular to encourage and facilitate the participation of their shareholders in the general assemblies.
This comes from CMA's belief in the importance of the shareholders' role in following up on the company's business and evaluating any practices that do not conform to the public interest by holding the company's management accountable by using the right to participate in the general assemblies and all possible ways to express their demands and visions.
Prof. Ahmad Al-Melhem
Issued on: 07/09/2022
Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.
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