The Capital Market Authority Board issued today its decision to suspend holding assemblies for companies listed in the capital market until further notice, and to hold such assemblies remotely via modern technology means that would enable shareholders to participate in their deliberations and vote on their decisions through “Tadawulaty” system provided by the Securities Depository Center Company “Edaa”.
This decision comes for the safety of the participant in the capital market and in support of the preventive efforts exerted by the relevant health authorities to address the novel Coronavirus (COVID-19), and as an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia in taking the necessary preventive measures to curb its spread.
In that regard, the Securities Depository Center Company “Edaa” announced that the assembly registration would be available for shareholders through Tadawulaty system starting from Thursday 02/08/1441H corresponding to 26/03/2020G. In addition, the e-voting will be available for shareholders until the end of the assembly meeting.
It is worthwhile to mention that the e-voting service for companies listed in the Saudi capital market has been available to all shareholders since April 2017, through the “Tadawulaty” system. The service enables the shareholders to participate in the decisions of the assemblies of the listed companies. It provides them with an opportunity to exercise their rights easily, and save the time and effort for the shareholders in cities and geographical regions which are far away from the assembly locations. The e-voting provides the shareholders with a sufficient period to review the agenda items in full details before the assembly convention, which helps them to make their own decisions and analyze them effectively.