Bahrain Clear Rolls out a Comprehensive Value-added Suite of eAGM and eVoting Services including Board Elections

Monday, February 21, 2022
Bahrain Clear, a fully owned subsidiary of Bahrain Bourse, has announced a partnership with Lumi, the leading global provider of AGM technology, to launch a comprehensive value-added services for both public shareholding companies and closed companies to offer eAGM and eVoting services including Board Elections. During general meetings, this service enables shareholders to cast their votes on company resolutions and elect directors electronically.
 
The web-based service aims to drive higher shareholder engagement through enabling both virtual and hybrid AGMs, real-time access to voting results with weighted voting and meeting quorum, providing secure verification of shareholders and their representatives, and enabling flexibility in accessibility whilst offering full audit trails. The service aims to further highlight the importance of shareholders’ role in fully exercising their voting rights during AGMs through easier connectivity in virtual or hybrid formats, which will further drive and enhance shareholder engagement. Shareholders will be able to access all the required information related to eAGMs through the registration on the dedicated website on: eagm.bahrainclear.com
 
On this occasion, Vice Chairman and Managing Director of Bahrain Clear, Sh. Khalifa bin Ebrahim Al Khalifa, commented: “Bahrain Clear strives to continuously provide value-added services and is committed to creating a conducive business environment that is competitive, flexible, and agile. This major milestone aims to complement and build upon the success achieved in previous years in terms of offering electronic AGM services. We are pleased to partner up with Lumi to roll-out a comprehensive suite of eAGM & eVoting services including board elections for both public shareholding companies and closed companies, which aims to embrace best corporate governance and investor relations practices whilst maintaining higher shareholder engagement.”
 
“This comes as part of Bahrain Clear’s ongoing efforts to further enhance post-trade services and goes in line with Bahrain Clear’s role to enhance capital markets infrastructure with the overall aim of protecting shareholders’ rights," Shaikh Khalifa added.
 
Richard Taylor, CEO of Lumi, commented, “We are proud that Bahrain Clear has chosen Lumi to partner with and we look forward to helping to deliver best-in-class corporate governance for issuers as well as empowering shareholders to participate at AGMs. Bahrain Clear has fully embraced the digitalisation of AGMs and shareholder engagement and this partnership is an exciting step in our ongoing strategic investment in the region”.
 
It is worth mentioning that Bahrain Clear is a fully owned subsidiary of Bahrain Bourse with a disclosed capital of BD 5 million, and a paid up capital of BD 1 million. Bahrain Clear is licensed as a clearing house by the Central Bank of Bahrain, offering pre and post-trade services to investors as well as a range of services including transactions depository, clearing, settlement, central registry and registration.