The latest status of allocating equity shares to survivors/ presence of equity equity representatives in company meetings

Akbar Heydari, in an interview with the economic reporter of Fars News Agency, said about the allocation of equity shares to the survivors of the two low-income deciles of the Imam Khomeini (RA) Relief Committee and the Welfare Organization: the government regulations implementation committee has taken issue with the resolution of allocation of equity shares to the survivors. This problem must be fixed.

He added: Considering the problem with the government’s decision, I think it is unlikely that equity shares will be allocated to the survivors of the two tenths of low income before the end of this year. Of course, the privatization organization knows its details better.

The Spokesperson of the Association of Equity Equity Provincial Investment Companies in response to the second phase of equity equity dividend until when will it be paid? He said: According to the resolution of the Supreme Council of the Stock Exchange, the responsibility of collecting, aggregating and distributing equity dividends rests with the depository and settlement company, and that company is obliged to collect the interest amounts from capitalized companies and pay them to all shareholders in a direct or indirect way.

Heydari added: the total equity dividend related to the performance of 1400 companies is about 60 thousand billion tomans, and in the first stage, half of it, 30 thousand billion tomans, was deposited into the accounts of the beneficiaries, and the second stage of the profit should be collected by the end of this year. The account of equity beneficiaries should be deposited and if it is not realized by the end of the year, it should be paid at the beginning of 1402.

He clarified: The details of the amount of interest collection and its aggregation and that the interest will be deposited by the end of March are in the custody of the depository company, but according to the law, the interest must be paid by the end of the year.

The spokesperson of the Association of Provincial Investment Companies of Saham Adalat regarding the fact that according to some directors of the depository company, despite correspondence with investable companies, some of them avoid depositing profits, said: There is a legal tool to pursue the collection of dividends from Adalat shareholders, and if a company does not cooperate, the company Depositories can report to upstream entities and those companies will be dealt with according to the law.

Heydari said: According to the commercial law, from the date of approval of the company’s profit in public meetings to its distribution, no more than 8 months should pass, and since this profit is related to the performance of 1400, the maximum legal time for depositing the profit is the end of March this year.

He asked whether the representatives of the equity shares are present in the assemblies of the capitalized companies. He said: The Provincial Investment Companies Association is present in the company assemblies on behalf of equity shareholders in the indirect management method, and they vote and comment, and so far there has not been any assembly that was held without the presence of equity shareholders’ representatives in investable companies.

The spokesperson of the Association of Provincial Investment Companies of Saham Adalat continued: The Association of Provincial Companies will represent provincial investment companies in company meetings because according to the resolution of the Supreme Council of the Stock Exchange, in the transition period after the liberalization of Adalat Shares, a three-member working group has been established until the time of the revision of the bylaws. A representative of the Provincial Investment Companies Association, a representative of the Ministry of Economy and a real member of the Supreme Council of the Stock Exchange should participate in meetings and appoint representatives to the board of directors of investable companies. The secretariat of the working group is located in the center of provincial investment companies.

Heydari clarified: So far, the representative of the center has been present in all public meetings of investable companies and has performed supervisory and management affairs on behalf of the shareholders.

In response to this question, whether the professional affairs of investable companies are respected by the representative of the equity center? He stated: In the field of introducing representatives of equity shares in investable companies, professionalism and the principles of corporate governance and the rules governing stock exchange companies are observed, and the members nominated for the board of directors of investable companies must be approved by the stock exchange organization.

The spokesperson of the Provincial Investment Companies Association of Saham Adalat emphasized: arrangements have been made for efficient, professional and expert people to attend company assemblies, and in addition to that, based on the criteria of the working group, a suitable person should be selected in investable companies, so there is obsession and precision in this field. Both the technical qualification and the general qualification of the people are taken into consideration and the introduced people must be able to obtain the necessary qualifications from the stock exchange organization and then they are settled in the investment companies.

Heydari said: On the other hand, those who represent equity shareholders in the board of directors of investable companies must report regularly to the provincial investment companies center, and fortunately, no seat on the board of directors related to equity shares in companies has been left vacant.

He emphasized: The introduced person may be outside the members of the provincial investment companies, but professional standards and passing general and specialized qualification must be observed so as not to disturb the professionalism and corporate governance.

end of message/