Emaar EC to start e-voting for general meeting on April 27

Emaar The Economic City (Emaar EC) will adopt electronic voting for its ordinary general meeting (OGM) that will be held on April 27, according to a bourse filing on Wednesday.

The move came after the Capital Market Authority (CMA) issued, on March 16, a circular to enable shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent the spread of coronavirus.

Shareholders will also vote on audited financial statements, audit and board’s reports for 2019.

They will also vote on appointing an external auditor to audit the company’s financials for Q2, Q3, FY 2020, and Q1 2021, the statement said.

Emaar’s shareholders will further vote on forming an audit committee for the 3-year term starting from April 27, 2020, and they will determine its duties.

Updating the rules of remuneration and nomination committee will be discussed during the meeting.

Moreover, the assembly will vote on an SAR 4 million remuneration for the board of directors for the year ended Dec. 31, 2019.