Public Listed Companies Preparing for AGMs

With the annual general meetings’ season approaching, the companies are forwarding their applications for approval of ordinary annual general meetings by the Capital Market Authority. As most ordinary annual general meeting convenes in March every year.
On the importance of general meetings of the companies and investment funds, Director of Legal Affairs and Enforcement Department at CMA said the legislator conferred on the general meetings a regulatory role including protecting the rights of small shareholders and ensuring integrity, prohibiting conflicts of interests between related parties as the general meeting is the supreme authority of any company that takes all resolutions in material matters over the powers of the board of directors and their resolutions are final and mandatory.