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23 March 2020
MARKETS

ADX to provide free remote e-voting for AGMs of listed companies

Abu Dhabi Securities Exchange is conducting consultations with listed companies to facilitate the implementation of the Securities and Commodities Authority instructions to make the e-voting mechanism available remotely

SAHMI digital platform will increase the rate of effective corporate management participation/Bloomberg

by Kudakwashe Muzoriwa

Abu Dhabi Securities Exchange (ADX) will offer free of charge remote electronic voting for Annual General Meetings (AGMs) for listed companies through SAHMI, the exchange’s integrated services digital platform.

SAHMI digital platform provides integrated services such as the issuance of an investor number, updating data and information for investors as well as the transfer of securities and issuance of various reports related to investor's portfolio in addition to access all investor data.

The move will allow crucial aspects of AGMs to be carried out remotely and will apply to AGMs taking place between 17 March and the end of April 2020.

ADX stated that the e-voting service through SAHMI digital platform will increase the rate of effective corporate management participation and positively raise performance levels.

The service is also expected to reduce operational costs that can stem from the postponement of meetings when the quorum of participants is not complete and such scenarios can result in delaying the issuance of decisions such as cash dividend distribution to shareholders.


RELATED STORIES: Annual General Meetings Abu Dhabi Securities Exchange SAHMI


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