Saudi Arabia .. The Capital Market Authority decides to lift the...

The Saudi Capital Market Authority announced the issuance of the authority’s board decision that includes lifting the suspension of the association contract for companies listed in presence, provided that this applies to associations whose contract application is submitted to the Authority starting from 03/15/1442 AH corresponding to 11/01/2020 AD, with the obligation of listed companies By continuing to hold assemblies through modern technology that enables shareholders to participate in their deliberations and vote on their decisions until further notice.

The authority emphasized the necessity of the commitment of the listed companies that may wish to hold their assemblies in attendance in conjunction with holding them through modern technology, for the association’s meetings to be chaired by the president of the association in presence at the meeting venue.

The authority also wishes to emphasize the listed companies that may wish to hold their association in attendance to adhere to the decisions of the relevant authorities, through the application of precautionary measures to limit the spread of the new Corona virus (COVID-19) and the commitment to apply social distancing measures, and these measures come from the authority’s concern for the safety of dealers In the financial market.

It is noteworthy that the Authority has suspended the convening of the assemblies of the listed companies in the presence as of March 16, 2020, as part of several precautions it took in line with the directives issued by the competent authorities to confront the Corona pandemic, and the assemblies were only held during that period through modern technology that enables shareholders to participate in their deliberations And vote on its decisions through the (Tadawulati) system provided by the Securities Depository Center Company (Edaa).

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