In 12 steps.. Learn about the procedures for holding the general assembly of stock exchange companies

Capital market workers are waiting for the resumption of the government offering program on the Egyptian Stock Exchange in the near future.

“The Seventh Day” presents an awareness campaign for citizens wishing to invest in the money market to learn about the most prominent procedures that are carried out in the listed companies, including the procedures for criticizing the general assembly of companies:

1- Proof of shareholders’ attendance at the general assembly meeting (authenticity-delegation): Each shareholder has the right to attend the general assembly of shareholders by way of authenticity or delegation. .

2- Proof of the attendance of the Board of Directors: The Board of Directors must be represented in the General Assembly with no less than the number that must be available for the validity of the meeting. delegates.

3- Presidency of the General Assembly: The General Assembly is chaired by the Chairman of the Board of Directors, taking into account the exceptions mentioned in Article 211 of the Executive Regulations of Law 159 of 1981.

4- Appointment of the secretary and the vote-collectors: At the beginning of the meeting, the president of the association appoints the secretary of the association and the vote-collectors, provided that the general assembly approves their appointment.

5- The legal quorum for the meeting: The attendance of shareholders representing the limit stipulated in the company’s system is required, provided that it is not less than a quarter, unless the company’s articles of incorporation provide for a quorum greater than that, and not exceeding half of the capital, and the second meeting is considered valid regardless of the number of shares represented in it.

6- Determining whether or not the quorum is complete: The General Assembly shall begin consideration of the agenda if the quorum of attendance stipulated in the system is complete.

7- Quorum for resolutions: Resolutions of the General Assembly are issued by an absolute majority, unless the system requires a higher percentage.

8- General Assembly deliberations: The General Assembly may not deliberate on matters other than those listed on the agenda, and it may submit the questions raised at least three days before the convening of the General Assembly.

9- Shareholders’ rights to discuss topics on the agenda: Each shareholder who attends the general assembly meeting has the right to discuss the topics listed on the agenda and he may submit the questions raised at least three days before the meeting of the general assembly.

10- Voting in the assembly meeting: the vote in the general assembly shall be in the manner specified by the system, and the vote must be by secret ballot if the decision is related to the following: Election or dismissal of members of the board of directors, provided that the cumulative voting method is used to elect members of the board of directors, and the establishment of Liability action against them, if requested by the Chairman of the Board of Directors or 10% of the votes present at the meeting.

11- Voting by members of the board of directors: members of the board of directors may not participate in voting on the decisions of the general assembly regarding the determination of their salaries and remunerations, or their discharge of liability and the release of their responsibility for management.

12- Conducting evidence and ratification of the minutes of the meetings of the General Assembly: A minutes is drawn up with a comprehensive summary of all the discussions of the General Assembly, and everything that happens during the meeting, and to establish the quorum of attendance and the decisions taken in the assembly, and the number of votes that approved them, and everything that the shareholders request to be recorded in the minutes. Send a copy of the minutes of the meeting of the General Assembly for Financial Supervision within 10 days at most from the date of its meeting.

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