Procedure for organizing stakeholders’ meeting to be revised

On Wednesday, representatives from the Financial Regulatory Commission and Mongolian Stock Exchange, and board directors of large private companies discussed amendments for the Procedure on Announcement and Monitoring of Shareholders’ Meetings of JSCs.

Participants exchanged ideas on issues regarding the organization of regular and irregular shareholders’ meetings, challenges faced by shareholders, and possible solutions.

As a result, participants agreed that the majority of shareholders should participate in a shareholders’ meeting, notify all relevant parties about meeting decisions, make the time limit for public announcements more flexible, cut down some expenses required for organizing a shareholders’ meeting, and avoid causing additional costs. These decisions will be reflected in the said procedure.

The Financial Regulatory Commission is working to renew the procedure before the end of the year as most joint stock companies are planning to organize their shareholders’ meeting in January.