The time of depositing the profit of listed companies has changed – Tejaratnews
According to Tejarat News, by amending the articles of association of publishers registered with the Stock Exchange Organization, from now on the full payment of dividends to shareholders must be made within four months at the latest after the decision of the General Assembly regarding the distribution of profits.
Based on this, the Board of Directors of the Stock Exchange Organization announced in a resolution: According to the resolution dated 10th of February 1401 of the Board of Directors of the Stock Exchange and Securities Organization, the following statement was established as “Comment two to Article 18 of the Model Articles of Association of Public Stock Companies registered with the Organization to Exclusion of financial and monetary institutions, Article 20 of the Model Articles of Association of Parent/Holding Companies (Public Shares), Article 20 of the Model Articles of Investment Companies (Public Shares), Article 21 of the Model Articles of Capital Provision Companies (Public Shares), Note 9 to Article 21 of the Statutes Tehran Stock Exchange Company, Note 9 to Article 21 of the Articles of Association of Iran Foreign Exchange Company, Note 8 to Article 24 of the Articles of Association of the Iran Commodity Exchange Company, Note 8 to Article 24 of the Articles of Association of the Iran Energy Exchange Company and Note 6 to Article 26 of the Articles of Association of the Central Securities Depository Company Assets and settlement of funds should be added.
The full payment of dividends to shareholders must be made within four months after the decision of the General Assembly regarding the distribution of profits
Also, in another part of this notification, it is stated:
2. According to the Resolution dated July 29, 1401 of the Board of Directors of the Securities and Exchange Organization, Article 28 of the Model Articles of Association of Public Stock Companies registered with the organization, excluding financial and monetary institutions, Article 32 of the Model Articles of Association of Parent/Holding Companies (Public Stock), Article 32 of the Articles of Association of Companies Investment (common stock) and article 34 of the model charter of capital providing companies (common stock) were amended as follows:
“If, due to any reason, the number of members of the board of directors is less than the quorum and no substitute member has been appointed or does not exist, the board of directors is obliged to immediately call the ordinary general meeting of the company to complete the members of the board of directors.”
3. Pursuant to the notification dated May 20, 1401 of the management of supervision of publishers regarding the amendment of Article 19 of the articles of association of public companies registered with the organization, with the exception of financial and monetary institutions (Appendix 1) and the notification dated 18 Bahman 1401 of the management of primary market supervision regarding the method of sending and Electronic subscription of pre-emptive rights resulting from capital increase in order to apply the provisions of Article 14 of the model statute (or the corresponding article in the model statutes of other publishers registered with the organization) (Appendix 2), it is necessary for the respected publishers to take the necessary measures to amend as soon as possible. Act on its own statute.
Source: ISNA