Awareness Announcement: Approval of General Assemblies Agendas

As the CMA is keen that the general assemblies of listed companies’ shareholders, licensed persons, and investment funds’ meetings are not delayed, and in order to minimized the number of approvals and necessary procedures required for holding such assemblies; the CMA has concluded that prior approvals of general assemblies’ agendas for the mentioned entities are not required.

Therefore, the CMA draws the attention of listed companies, licensed persons and investment funds not to provide it with the agendas of the ordinary and extraordinary general assemblies or unit holders assemblies for the purpose of obtaining approvals. The CMA will cease issuing a letter on its approval of the mentioned agenda. 

The CMA would also like to draw the attention of listed companies, licensed persons and investment funds to continue notifying the CMA of the assemblies’ agenda and its time and venue. They shall also attach all documents relevant to the items listed on the assemblies’ agenda on the assigned dates, in addition to obtaining CMA’s and other supervisory entities’ prior approvals for the items discussed in the general assembly and which the Companies Law and its Executive Bylaws, and CMA’s Law and its Executive Bylaws stipulate obtaining CMA’s prior approval for before being discussed in the assembly.