CmaBoardReleases
Title: Capital Markets Authority’s Poll on the Cumulative Voting System
Kuwait City, January 21, 2018 – As part of CMA’s continuous effort to provide a supervisory system to support an attractive competitive investment environment in Kuwait based on fairness, transparency and integrity, and in order to keep up with the best international practice and to ensure the effective participation of the minority of shareholders in the elections of companies boards of directors’ members, the CMA is currently conducting a survey on the cumulative voting system through an opinion poll launched on its website (http://www.cma.gov.kw). The poll targets a wide range of groups interested in financial markets (Government Sector, Companies, Public Welfare Association, Academic Institutions, Accountants, natural Persons). The voting process has a role in protecting the rights of shareholders and other stakeholders. The deadline for submission is 3/2/2018.
As for the importance of this poll, the CMA confirms and encourages participating in the cumulative voting system poll as participation contributes to the development of CMA, and welcomes all opinions and proposals in order to endorse securities activities.