Companies told install e-system for General Assembly participation: CMA

The Capital Markets Authority has called on all companies listed on the Kuwait Stock Exchange Main Market, to adhere to providing the electronic system for participation in general assemblies.

This directive applies to assemblies with the right to attend dated after March 2, 2024, as part of the expanded utilization of the electronic system for assembly attendance and participation.

Companies are required to follow the specified procedures outlined in the Executive Regulations of the Capital Markets Authority and the Policies and Procedures Manual for General Assemblies through the electronic systems issued by the Kuwait Clearing Company.

This obligation is in addition to the existing requirement for companies listed in the First Market, as outlined in Circular No. 10 of 2022.

The CMA emphasizes the importance of companies encouraging their shareholders to participate in upcoming general assemblies and facilitating their participation requirements.

The electronic system not only enhances shareholder participation but also safeguards their rights, particularly the rights of minority shareholders. For any inquiries, companies are advised to use the provided email: mrd@cma.gov.kw.