The general assemblies of the joint-stock companies must play their role in accounting the boards of directors of these companies, given that the shareholders are the owners of the company, and they must have the final decision regarding the company’s performance, its dividends, board members ’bonuses, and other matters.

But this does not happen. In fact, we find that most shareholders are convinced of the futility of this role. Attending meetings means nothing but approval or silence. This reduced the role of the General Assembly, marginalized the participation of its members, and many of them became frustrated!

Although the companies law gave the general assembly - and they are in fact the owners of the company - the authority to approve the reward and value of the board of directors, as well as the authority to approve dividends, the logical question here is: Why did the general assemblies of companies fail to hold the corporate departments that achieved Accumulated losses of years past, and why were they not held accountable, or isolated, before shareholders ’rights were lost, as happened?

Mostly, and among the most important reasons that prevented this, since shareholders cannot discuss the proposals of the Board of Directors, they have only two options: either to accept or reject them, so is it reasonable for one of the shareholders to be able to comment on the company's financial position report and its performance? , During a general assembly meeting whose duration does not exceed one and a half hours at most, but sometimes the time does not exceed half an hour, especially since some shareholders are given the financial report just before they enter the meeting?

There are many practices that occur during the general assemblies of some companies, many questions arise, why are the notes addressed by some shareholders not documented in detail in the minutes of the meeting of the societies, and their objections are not recorded, but are often jumping to the results, except for a very small number of Companies?

And the most important question: Why has the number of companies that lost more than 50% of their capital reached 16 companies? And where were the general assemblies and the concerned authorities, when the losses were 10 or 20% ... why did no one interfere?

All of these matters, and others, have made the articles of the law regulating the role of general assemblies far from what these annual meetings witness, and have created a state of indifference and indifference by shareholders, so many laws and many notes that hinder the work of public assemblies must be reviewed, and increase The supervisory aspect of companies, and allows those concerned to intervene directly at the appropriate time, before the nominated companies reach the point of no return towards bankruptcy!

It is necessary not to forget to emphasize the importance of the pressures laid down, and the instructions approved by the Securities and Commodities Authority, by requiring some companies to explain the reasons for the accumulation of such losses, and to develop solid plans for restructuring, a step that deserves praise, but it would have been better and stronger had it been implemented in a tight manner as well, Instead of contradicting decisions about the obligatory signature of the customer on a mandatory declaration before trading in such shares, where the return went at once to the comprehensiveness of the obligation to sign, and then amend the mandatory declaration again to become only on those companies suspended from trading, which caused confusion regarding all the details, That included financing the trading of such stocks, the widening of the maze to include the postponement of re-trading, and many other details, did not produce positive results, but rather caused the market atmosphere to be negatively charged, which is essentially indispensable today!

There is a lot of work that the Securities Commission must do to ensure the activation of the role of general assemblies, and there are, as everyone knows, many necessary legal amendments, which must be expedited in order to preserve the shareholders ’money, and the state’s economy, these amendments await everyone, and the delay in approving them It will lead to a lot of losses, as the priority should be towards taking measures to protect shareholders, rather than letting them face a mysterious fate!

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