On Aug. 18, KUW CMA amended provisions on assembly participation.
KUW CMA issued Resolution No. 104/2024 regarding the development of mechanism for participation in general assemblies of companies listed on KUW EXC (2nd phase).
The definition of the right to attend general assemblies book 1 article 1 was amended.
Listed companies' obligations on listed security on KUW EXC in article 10-1 updated.
Added article 1-11-1 stipulating that listed companies shall comply with the book 15.
Article 1-11-2 allows listed companies to use e-system to attend general assemblies.
Also added article 1-11-3 enumerating listed companies obligations towards KUW CMA.
Companies publish announcement on website and KUW EXC's to invite people wishing to nominate for board of directors' membership open one moth from advertisement.
Effectiveness
This resolution shall be applicable for general assemblies whose date of the right to attend is after Oct. 31, 2024, and it shall be published in the Official Gazette.
In Sep. 2024, KUW CMA published a new guide on general assemblies, see #226283.
