All companies listed in the Premier Market must use the electronic system provided by the Kuwait Clearing Company to enable the shareholders of companies to participate in the general assembly without the need for their presence in person, for all general assemblies that will be held as of October 2, next.
This comes within the framework of the continuous endeavor of the Capital Markets Authority to provide protection and to enhance the effective participation of investors of all categories in the general assemblies of listed companies, reports a local Arabic daily.
This based on Resolution No. (139) of 2022 regarding the development of the mechanism for participation in the general assemblies of companies listed on the Kuwait Stock Exchange, specifically what is stated in Article (1-11) of the twelfth letter of the Executive Regulations, which states the following: “Listed companies may use the electronic system to attend general assemblies, and the CPA in order to achieve its objectives, especially within the scope of minority rights protection, may obligate any of the listed companies to use the electronic system to attend general assemblies.
The electronic system for participation, and in all cases, the right to attend and vote through the system is for shareholders registered in the company’s records at the end of the tenth working day preceding the date of the general assembly.