MUSCAT : The awareness campaign, which is being rolled out on social media platforms under the hashtag #YourAttendanceMakesADifference, will be held during the current month of March to coincide with the season of annual general meetings.

The initiative aims at educating shareholders on the importance of attending annual general meetings, interacting with the agenda, exercising their legal rights to vote on the resolutions and hold the boards of directors accountable through video conferencing via the online platform administered by Muscat Clearing and Depository Company or personal attendance – if it is held at a specific location.

The FSA notes that annual general meetings take place after the listed companies on the Muscat Stock Exchange disclose audited annual financial statements, board of directors’ report, management discussions and analysis report, as well as the company’s corporate governance report and other reports related to the audited financial statements.

The annual ordinary general meetings are held within a maximum of 90 days from the end of the issuer’s financial year.

It is worth noting that the FSA continuously emphasises to listed companies and funds the importance of taking specific measures to convene the general meeting and send the notices to shareholders and investment unit holders via the platform within sufficient time – at no less than 15 days from the date of the general meeting.

The general meetings of companies and funds have extensive powers, including shareholder’s right to vote and object to the resolutions in addition to assessing the efficiency of the board members and their ability to contribute effectively in directing the executive management of the company and its role in electing board members capable of leading the company to achieve the interests of its shareholders.

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