Business NewsCourt allowed companies listed on the Nairobi Securities Exchange to hold virtual AGMs, subject to CMA approval. The Capital Markets Authority (CMA) has issued guidelines to firms holding their Annual General Meetings (AGMs) online This comes after the Ministry of Health gave orders banning all public gatherings in bid to curb the spread of COVID-19. The Court allowed companies listed on the Nairobi Securities Exchange to hold virtual AGMs, subject to CMA approval. The authority has waived the need for listed companies and market intermediaries to publish their financials in newspapers and instead use websites and social media channels. Boards of listed firms have also been allowed to pay dividends and appoint auditors, agenda items whose determinations can later be ratified once AGMs are convened.

Source: Standard Digital June 09, 2020 09:06 UTC