According to this resolution, all of the listed shareholding companies on Bahrain Bourse are required to take the necessary procedures to amend their status in line with the amendments stated in the resolution, which includes registering and depositing the issued shares in the Clearing, Settlement, Central Depository & Registry system in the Bourse, provided that the establishment and management of the shareholders’ record in the company is in line with the electronic registry system licensed by the Central Bank of Bahrain and approved by the Bourse.
The resolution also raises the minimum capital of the listed company to one million Bahraini Dinars or its equivalent in other currencies, in addition to raising the minimum company’s shareholders to 100 excluding the shareholders from the company’s employees, staff, and key persons and their directly related people.
Additionally, the resolution approved a number of amendments related to the company’s profitability, its financial conditions, the balance of its financial structure, and its performance efficiency by applying the requirements of transparency & disclosure standards, and corporate governance standards issued by the Central Bank of Bahrain (CBB).
CEO of Bahrain Bourse, Shaikh Khalifa Bin Ebrahim Al Khalifa said that the resolution is a major step in the history of the Capital Market sector in the Kingdom of Bahrain with respect to the listing requirements, especially the part related to depositing of shares of companies in the Clearing, Settlement, Central Depository and Registry in the Bourse and the minimum tradable stocks, which opens the door wide to the Bourse for integration and interconnection with the GCC and global exchanges and it will also contribute in offering more opportunities to the citizens to invest in the Bahraini shareholding companies.
Shaikh Khalifa clarified that applying the new amendments will enable the Bourse to bridge the gap to accommodate the unified listing requirements in the GCC stock markets.
Shaikh Khalifa also revealed that the Bourse in the coming few days will execute a number of practical steps to implement this resolution with coordination with the relevant parties.