Manama, February 21 (BNA) Bahrain Clear, a wholly owned subsidiary of Bahrain Bourse, announced a partnership with Lumi, the leading global provider of Ordinary General Assembly technology, to launch comprehensive value-added services for both public joint stock companies and closed-end companies. Companies to provide eAGM and electronic voting services including board elections. During general meetings, this service enables shareholders to cast their votes on company decisions and elect board members electronically.
The web-based service aims to increase shareholder participation by enabling both virtual and hybrid general assembly meetings, real-time access to voting results with weighted voting and meeting quorum, provide secure verification of shareholders and their representatives, and enable flexibility in access while offering full audit trails . The service aims to further highlight the importance of the role of shareholders in fully exercising their voting rights during the ordinary general assembly meetings through the ease of communication in virtual or hybrid forms, which will drive and enhance shareholder participation. Contributors will be able to access all required information related to eAGMs by registering on the dedicated website at: eagm.bahrainclear.com
On this occasion, the Vice Chairman and Managing Director of Bahrain Clear B.S.C. Khalifa bin Ibrahim Al Khalifa commented: “Bahrain Clear strives to continuously provide value-added services and is committed to creating an enabling business environment that is flexible, competitive and agile. This great achievement aims to complement the success achieved in the previous years and build on it with regard to the provision of electronic General Assembly services. We are pleased to partner with Lumi to launch a comprehensive suite of eAGM and e-voting services including board elections for both public joint stock companies and closed-end companies, which aims to adopt best practices of corporate governance and investor relations while maintaining greater shareholder participation.”
Sheikh Khalifa added: “This comes as part of Bahrain Clear’s ongoing efforts to further enhance post-trade services and is in line with Bahrain Clear’s role in strengthening capital markets infrastructure with the overall objective of protecting shareholders’ rights.”
Richard Taylor, CEO of Lumi, commented: “We are proud that Bahrain Clear has chosen Lumi to partner with and look forward to helping deliver best-in-class corporate governance to issuers as well as enabling shareholders to participate in the Annual General Assembly meetings. Bahrain Clear has adopted For fully clearing, the digitization of the annual general assemblies, shareholder participation, and this partnership is an exciting step in our ongoing strategic investment in the region.”
It is worth noting that Bahrain Clear is a wholly owned subsidiary of the Bahrain Bourse with a declared capital of 5 million Bahraini dinars and a paid-in capital of 1 million Bahraini dinars. Bahrain Clear is licensed as a clearing house by the Central Bank of Bahrain, providing pre- and post-trade services to investors in addition to a range of services including transaction filing, clearing, settlement, central registry and registration.
AOQ