Latest news with #CorporateGovernanceCode
Daily Tribune
5 days ago
- Business
- Daily Tribune
Leadership shift at Bahrain Bourse
TDT | Manama A new chapter has opened in Bahrain's capital market with the election of Yousif Abdullah Al Yousif as Chairman of Bahrain Bourse, following a complete reformation of the exchange's Board of Directors by royal decree. The leadership change signals a strategic pivot as the bourse sharpens its focus on competitiveness and investor confidence. Strategic reset The board meeting on Sunday marked the first convening since His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, issued Edict (1) of 2025 to reform Bahrain Bourse's board. Alongside the chairman's election, Yousif Abdullah Ali Reza was named Vice Chairman, and new board committees were formed in line with the Corporate Governance Code. The revamped board includes Nabeel Saleh Abdulaal, Raed Abdulla Fakhri, Eman Jawad Al Asfoor, Habib Jawad Habib, Fatema Hamad Abul, Abdulla Abdulrazzaq Bukhowa, and Aisha Mohammed Abdulmalik. Pledging alignment During the meeting, the board expressed gratitude to HRH Prince Salman for the confidence placed in them and pledged to align closely with Bahrain's economic development vision. The leadership underlined its aim to reinforce the bourse's role as a key driver of growth, promising to create an investment environment that appeals to both domestic and international players. Chairman Yousif Al Yousif described the appointment as 'a privilege' and committed to working with fellow board members and the executive team to ensure Bahrain Bourse remains 'a dynamic and resilient financial market.' Focus on trust Shaikh Khalifa bin Ebrahim Al-Khalifa, Chief Executive Officer of Bahrain Bourse, welcomed the board's appointment and said the diverse expertise of its members would be instrumental in shaping long-term strategy, enhancing transparency, and building investor trust. The leadership reshuffle is expected to shape the next phase of Bahrain Bourse's evolution, as it positions itself more firmly within the Kingdom's broader economic transformation.
Straits Times
29-05-2025
- Business
- Straits Times
Industry code to be reviewed to enhance corporate governance, boost S'pore equities market
The review will be undertaken by the Corporate Governance Advisory Committee, which was set up by MAS in 2019. PHOTO: ST FILE SINGAPORE - The Code of Corporate Governance will be reviewed to enhance corporate governance practices and disclosures among listed companies in Singapore, said the Monetary Authority of Singapore (MAS) on May 29. The review will be undertaken by the Corporate Governance Advisory Committee, which was set up by MAS in 2019 as a permanent, industry-led body to advocate for good corporate governance practices among listed companies in Singapore. The review complements the ongoing work of the Equities Market Review Group, which was launched in 2024 to boost Singapore's equities market, MAS said, without stating the timeline for the completion of the review. Mr Bob Tan, chairman of the advisory committee, said: 'The committee will be reviewing the Corporate Governance Code for its continuing relevance and ensuring that its disclosure requirements are meaningful to both existing shareholders and potential investors of large cap and small and medium-sized (SME) listed companies. 'The objective is to make our listed companies more transparent and attractive in the capital market without unduly over-burdening them with inconsequential reporting guidance or requirements.' The review will be undertaken by two sub-committees. The first sub-committee, to be led by Mr Robert Yap, executive chairman of Swan & Maclaren Group, will consider measures to help the code be implemented more meaningfully. The measures include providing additional guidance and practical examples on implementing the code provisions, in a manner that is suited to companies' operating contexts, such as their size and industry, MAS said. The second sub-committee, to be led by Ms Stefanie Yuen-Thio, joint managing partner of TSMP Law Corporation, will consider new code provisions or guidance on corporate culture, board effectiveness, and risk management in emerging areas, such as artificial intelligence. 'These enhancements aim to strengthen boards' capacities to steer companies through today's rapidly evolving landscape, while continuing to uphold long-term shareholder value,' MAS said of the areas that the second sub-committee will be looking into. MAS deputy managing director of financial supervision Ho Hern Shin said in the statement that upholding high standards of corporate governance is key for maintaining investor confidence. She said: 'Alongside the proposals of the Equities Market Review, companies must continue to maintain strong governance practices and make meaningful disclosures that keep stakeholders appropriately informed.' She added that the committee members' diverse expertise plays a vital role in strengthening the corporate governance framework, and that she looks forward to its recommendations. Alongside some members of the committee, industry practitioners with expertise in the priority areas of the review have also been invited to join the sub-committees. The code was last majorly reviewed in 2018. Since then, the advisory committee has recommended progressive enhancements to the corporate governance framework, particularly in the areas of director independence and remuneration disclosures. But the committee does not carry regulatory or enforcement powers, nor does it provide opinions on ongoing cases and investigations. The current 14-member committee serves a term from 2025 to 2028. Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance. Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
18-04-2025
- Business
- Yahoo
Invitation ordinary general meeting
Naamloze VennootschapNijverheidsstraat 2, 2340 BeerseVAT BE0403.807.337 – RPR Turnhout INVITATION ORDINARY GENERAL MEETINGWednesday 28 May 2025 at 11 a.m. The shareholders are invited to participate in the ordinary general meeting, which will be held on Wednesday 28 May 2025 at 11 a.m. at Hotel Botanique Sanctuary, Leopoldstraat 26, 2000 Antwerp, with the following agenda and proposals: 1. Reading and discussion about the report of the board of directors, the annual accounts and consolidated annual accounts of the financial year closed on 31 December 2024.2. Reading of and discussion about the auditor's report on the above-mentioned annual accounts. 3. Approval of the annual accounts of the financial year closed on 31 December proposal: The ordinary general meeting approves the annual accounts of the financial year closed on 31 December 2024.4. Approval of the appropriation of the result of the financial year closed on 31 December proposal: The ordinary general meeting decides to appropriate the result of the financial year closed on 31 December 2024 as proposed by the board of directors. The ordinary general meeting decides to distribute a dividend of € 6.75 mio (this means € 4.50 gross per share) against presentation of coupon no 16, with payment date: 13 June 2025 (ex-date: 11 June 2025 and record date: 12 June 2025).5. Approval of the remuneration policy of the proposal: The ordinary general meeting approves the remuneration policy as mentioned in the annual report 2024. 6. Approval of the remuneration report of the financial year closed on 31 December proposal: The ordinary general meeting approves the remuneration report of the financial year closed on 31 December 2024. 7. Discharge to the board members for the financial year closed on 31 December proposal: The ordinary general meeting grants discharge to the board members for the execution of their mandate during the financial year closed on 31 December 2024. 8. Discharge to the auditor for the financial year closed on 31 December proposal: The ordinary general meeting grants discharge to the auditor for the execution of his mandate during the financial year closed on 31 December 2024.9. Statutory nominations: 9a. Appointment of FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans, as independent Director. The mandate of FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans as independent board member ends. Proposal to appoint FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans as independent board member for a period of 4 years. The Board has determined that FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans, complies with all criteria required by the Companies and Associations Code and the Corporate Governance Code and thus can be considered as an independent board member . Resolution proposal: The ordinary general meeting appoints FLG Belgium SRL, represented by its permanent representative Ms Dina Brughmans, as independent board member for a period of 4 years. The mandate ends automatically, unless renewed, after the ordinary general meeting held in 2029. The mandate is remunerated according to the articles of association, the remuneration policy and the remuneration report. For 2025, the director's remuneration amounts to € 48,000; participation in committees is remunerated at € 1,750/committee. of Mr F.-W. Hempel as board member . The mandate of Mr F.-W. Hempel ends. Proposal to appoint Mr F.-W. Hempel as board member for a period of 4 years. Resolution proposal: The ordinary general meeting appoints Mr F.-W. Hempel, as board member for a period of 4 years. The mandate ends automatically, unless renewed, after the ordinary general meeting held in 2029. The mandate is remunerated according to the articles of association, the remuneration policy and the remuneration report. For 2025, the director's remuneration amounts to € 48,000; participation in committees is remunerated at € 1,750/committee. 9c. Appointment of Mr Léonard Hempel as board member . Proposal to appoint Mr Léonard Hempel as board member for a period of 4 years. Resolution proposal: The ordinary general meeting appoints Mr Léonard Hempel, as board member for a period of 4 years. The mandate ends automatically, unless renewed, after the ordinary general meeting held in 2029. The mandate is remunerated according to the articles of association, the remuneration policy and the remuneration report. For 2025, the director's remuneration amounts to € 48,000; participation in committees is remunerated at € 1,750/committee. Please note that you are required to comply with the following conditions and requirements: CONDITIONS OF ADMISSIONOnly the person who is an official shareholder on the registration date (Wednesday 14 May 2025 at 12 p.m.) either by means of a registration in the Company's register of shares or by means of a registration on the accounts of the recognised account holders or clearing institution – are admitted to the ordinary general meeting, irrespective of the number of shares in his possession on the date of the ordinary general meeting. Furthermore, the shareholder confirms his participation to the ordinary general meeting ultimately on Thursday 22 May 2025 (4 p.m.). The shareholders are requested to provide their email address when registering: the holder of registered shares: in writing, preferably by email, to the company (see contact registered office); the holder of dematerialised shares: to Euroclear Belgium preferably by email: The recognised account holder, or the clearing institution issues the necessary certificate to the shareholder indicating the total number of dematerialised shares, respectively delivered or registered in his name in his account on the registration date, with which the shareholder wants to participate in this general meeting. ADD ITEMS TO THE AGENDAOne or more shareholders holding together at least 3% of the share capital may add items to the agenda of this general meeting and submit resolution proposals relating to topics already included or to be included on the agenda. These requests must be addressed to the Company (see contact registered office) ultimately on Tuesday 6 May 2025. The shareholders who exercise this right must: prove that on the date of their request, they possess the required percentage of the share capital (by a certificate of registration of the registered shares in the Company's register of shares or by a certificate issued by a recognised account holder or clearing institute indicating that the respective number of dematerialised shares are registered in their name in an account) and; prove that on the registration date they are still shareholder holding together at least 3% of the share capital. When appropriate, the revised agenda and adjusted form to vote by proxy will be made public on the website ultimately on 13 May 2025. Nevertheless, the proxies received by the Company prior to the publication of the revised agenda, remain valid for the items mentioned on the agenda. Exceptionally contradictory to the above mentioned, the proxy holder can - in compliance with article 7:130 of the Code on Companies and Associations - during this general meeting, deviate from possible instructions of the proxy principal, for items mentioned on the agenda, for which new resolutions were submitted, if the execution of these instructions could damage the interest of the proxy principal. The proxy holder has to inform the proxy principal in this case. The proxy should mention whether the proxy holder is entitled to vote on new items put on the agenda or whether he has to abstain from them. RIGHT TO ASK QUESTIONS Pursuant to the Code on Companies and Associations and under certain conditions, the shareholders can submit questions in writing, prior this general meeting, to the board of directors or the auditor regarding their report or items mentioned on the agenda. These questions will be handled during this general meeting if the shareholder complies with the participation formalities and as far as the communication of information or facts does not prejudice Campine nv's business interests nor the confidentiality to which Campine nv, its board of directors or auditor have committed questions can be submitted in writing or per email beforehand to the company (see contact registered office ultimately on Thursday 22 May 2025 (4 p.m.). VOTING BY PROXYEach shareholder who wants to be represented has to comply with the above mentioned registration and confirmation of participation procedures. Each shareholder who complies with the formalities for admission to this general meeting provided for by the law and the company's articles of association may designate one person, preferably Ms Karin Leysen, company secretary, - to represent him at this general meeting in accordance with the Code on Companies and Associations by means of the form to vote by proxy which can be found on the website and is available on request (see contact information). Every appointment of a proxy holder has to be made in compliance with Belgian legislation, especially regarding conflict of interest and the register keeping. The notification of the appointment of a proxy holder must be received ultimately on Thursday 22 May 2025 (4 p.m.) -in writing or by electronic means to the company (see contact registered office) or to Euroclear Belgium: preferably by email: FORMALITIESThe documents to be presented to this general meeting are available on the website information/general meetings and financial publications): the annual financial report as of today, the other documents as of Friday 25 April 2025 or can be consulted at the registered office and are also available – free of charge – on request to the registered office. Contact registered officeCampine nv, Nijverheidsstraat 2, 2340 Beerse, Karin Leysen: tel: 014/60 15 49 Attachments Decision to appoint FLG invitation gav proxy gavSign in to access your portfolio
Yahoo
22-02-2025
- Business
- Yahoo
ECOPETROL S.A.: Call for General Shareholders' Meeting
GENERAL SHAREHOLDERS' MEETING OF ECOPETROL S.A. BOGOTA, Colombia, Feb. 21, 2025 /PRNewswire/ -- The Chief Executive Officer of Ecopetrol S.A. ("Ecopetrol") hereby summons all Shareholders to the General Shareholders' Meeting to be held on Friday, March 28, 2025, starting at 9:00 a.m., at the Centro Internacional de Negocios y Exposiciones (Corferias), located on Carrera 37 No. 24 - 67 in Bogota, D.C. The agenda for the meeting will be the following: Safety guidelines Quorum verification Opening of the General Shareholders' Meeting by the Chief Executive Officer of Ecopetrol Approval of the Agenda Appointment of the Chairperson presiding over the General Shareholders' Meeting Appointment of the commission responsible for scrutiny and counting of the votes Appointment of the commission responsible for the revision and approval of the minutes of the meeting Presentation and consideration of the Board of Directors' report on its performance, development, and compliance with the Corporate Governance Code Presentation and consideration of the 2024 Integrated Management Report Presentation and consideration of the individual and consolidated audited financial statements as of December 31, 2024 Reading of the Independent Auditor's opinion Approval of the Board of Directors' report on its performance, development, and compliance with the Corporate Governance Code Approval of the 2024 Integrated Management Report Approval of the individual and consolidated audited financial statements as of December 31, 2024 Presentation and approval of the profit distribution project Election of the Statutory Auditor for the 2025 – 2029 period and assignment of his remuneration Election of Board Members for the 2025 - 2029 period Presentation and approval of amendments to the Internal Regulations of the General Shareholder´s Meeting Presentation and approval of amendments to the succession policy for the members of the Board of Directors. Interventions and miscellaneous The Meeting will be broadcast live via streaming on Ecopetrol's website. The voting process will be conducted electronically. Shareholders are requested to attend the Meeting with their smart mobile devices. If any Shareholder does not have access to a device with the technical requirements required, the company has provided an alternate mechanism for Shareholders to exercise their right to vote. Shareholders may exercise the right to inspect the Company's books and other documents referred to in Articles 446 and 447 of the Commercial Code as of March 6, 2025. Shareholders, their proxies and/or their representatives may request an in-person appointment to the email derechodeinspeccion2025@ at least one business day prior to the date on which they intend to exercise said right, following the regulations for the proper exercise of it (available at The aforementioned mailbox is intended solely and exclusively for scheduling the in-person appointment. Any other concerns or request related to other matters must be requested through the Shareholder Service Office mailbox accionistas@ Shareholders who cannot attend the Meeting may be represented by power-of-attorney duly granted in writing to a trusted legal representative, who must meet the requirements established in Article 184 of the Commercial Code. The power of Attorney templates in both Spanish and English can be downloaded from the website at For the legal representation of the shareholders, compliance will be given to the provisions of the Legal Circular 029 of 2014 regarding the illegal, unauthorized and unsafe practices of securities issuers. Except in cases of legal representation, Ecopetrol administrators and employees may not represent shares other than their own while they are employed by the company, nor substitute the powers conferred thereon. Additionally, they may not vote on the Company's financial statements. RICARDO ROA BARRAGÁNChief Executive Officer RECOMMENDATIONS If an individual is acting as a proxy representative, the corresponding proxy form must be submitted in its physical form at registration along with any additional documentation required. Certificates of incorporation and legal representation of the companies must have an issuance date not exceeding one month. To avoid overcrowding, guarantee the adequate participation of all shareholders, the doors of Corferias and registration points will open as of 7:00 a.m. To expedite the registration process and ensure appropriate participation at the Meeting, in the case of individuals representing as proxy multiple shareholders, it is suggested a proxy representative is only responsible for at most 50 proxy forms. Only one helper per shareholder requiring additional assistance will be allowed entry. Only one kit will be provided per shareholder or proxy, regardless of the number of people they represent. The substitution or revocation of the power of attorney will not entitle the delivery of a new kit. Publicity material or any other type of material that might hamper the normal course of the meeting will not be allowed in the facility and their distribution is strictly prohibited. If you experience symptoms of acute respiratory infection (cough, fever, sore throat, muscle pain), we recommend that you refrain from attending the Meeting and instead follow it live via streaming. If you do attend please wear a face mask during the Meeting. Shareholders are invited to update their personal information through the Shareholder Services´ Office mail box and/or phone number and/or the Shareholder portal available on Ecopetrol's website. Additional information is available at:Shareholder Services' OfficeTelephone Bogotá: +(57) 601307 70 75; rest of the country: +(57) 01 8000 113434 Email: accionistas@ View original content: SOURCE Ecopetrol S.A. Sign in to access your portfolio
Asia Times
31-01-2025
- Business
- Asia Times
Western private equity firms return to Japan
They're back. After a hiatus earlier in the new century, Western private equity firms are increasingly targeting Japan for their Asian investment strategies. And the Japanese government and regulators have introduced bold initiatives to welcome them and facilitate remaking Tokyo as Asia's premier global financial market. Back in the late 1990s and early 2000s Japan was a preferred target for Western alternative asset managers. In 1999, for example, Newbridge Capital, co-founded by Texas Pacific Group (now TPG), took a majority stake in the internet service provider Livedoor. And, in 2000, J. Christopher Flowers and Ripplewood Holdings organized a consortium of investors to purchase Japan's distressed Long Term Credit Bank, renaming it Shinsei (translation: 'rebirth'). After Shinsei went public in 2004, the deal was widely regarded as one of the most successful private equity transactions, not only in Asia, but in the history of private equity investing at that time. But by the time of the Great Financial Crisis, Western firms began to find other Asian countries, most notably China and South Korea, more open and welcoming –countries where investors could attain greater financial rewards with fewer regulatory roadblocks. While Western investors retreated, Asian PE funds continued to commit to Japan. The Asian PE giant PAG continued to build its team and investments in Tokyo. The firm bought Universal Studios Japan in 2015 and reportedly exited three years later with a five-times return on their investment. PAG's most significant investment of late is the largest theme park by physical size, Nagasaki's Huis Ten Bosch. Nagasaki's Huis Ten Bosch theme park. Photo: Japan Guide One industry observer told Asia Times that while, about a decade ago, there were a few of what he calls one-off 'predecessor transactions' by mega global funds including KKR and Bain, Western PE firms had largely remained circumspect about Japan – at least until recently when the country made a conscientious effort to win them back by committing to a series of sweeping regulatory initiatives. These included: • Implementation of the Corporate Governance Code (2015, revisions in 2018 and 2021): Introduced to improve transparency, accountability, and decision-making in Japanese corporations, which aligns with international standards, the code encourages companies to have more independent directors to provide companies an outside perspective and commitment to shareholder rights, making Japanese companies more attractive to foreign investors, including PE firms. • Implementation of the Stewardship Code (2014, revised 2020): This code encourages institutional investors to engage more actively with the companies they invest in, focusing on sustainable growth and shareholder returns. Western PE firms find environments with active shareholder engagement conducive to implementing value-adding strategies. • Tokyo Stock Exchange market restructure (2022): This initiative simplified and restructured the TSE into three new segments: Prime, Standard, and Growth Markets. The restructuring aims to clarify market dynamics, improve market visibility, and attract international investments by highlighting promising growth sectors. • Guidelines for Corporate Takeovers (2023): This bold action by The Ministry of Economy, Trade and Industry (METI) is designed to facilitate mergers and acquisitions (including hostile takeovers), recognizing them as critical to business revitalization and growth. The 2023 Guidelines aim to bring Japanese public M&A practices closer to global standards by incorporating principles such as shareholders' intent and the board's responsibility as fiduciary, to make the Japanese corporate control market more accessible to international buyers. This directly benefits private equity firms, which are a major driver of inbound M&A and as a 'white knight' alternative to hostile activists. Industry observers today say the regulatory shift toward encouraging greater foreign investment is also aided by a weak yen and consistently low interest rates. The impact on deal growth has been impressive. The Japanese Private Equity Association and the Japanese Venture Capital Association track the number of private equity deals in the country as well as the value of those transactions. In 2020, there were 96 private equity transactions valued at 1.2 trillion yen. By 2023, the deal numbers and size had jumped to 125 private equity transactions valued at 5.9 trillion yen. Expediting the re-entry of western private equity firms has fallen largely to FinCity Tokyo, founded in 2019. FinCity Tokyo, a public-private collaboration, was created to help investors understand and maximize value in the new regulatory environment. Its stated goal is making Japan's capital an 'international financial center.' To do so, FinCity Tokyo coordinates with the government of Japan, the Tokyo Metropolitan Government and 57 member organizations including industry associations, major financial institutions, global investors and service providers. The organization also provides strategic support to financial firms seeking to enter and operate smoothly in Japan. Since 2022, it has helped nine global firms, with assets of nearly $1.3 trillion, to successfully enter and compete in Japan. FinCity Tokyo's Executive Director Keiichi Aritomo says one of its roles is helping foreign investors secure personnel in a tight labor market. The organization even subsidizes recruiting fees for PE investors in search of experienced personnel. The failure of Japanese business owners to establish family succession plans used to strike Western investors as a stigma, but owners now have come to welcome external ownership and professional management by Western buyers. Or as FinCity Tokyo's Aritomo notes, 'Private equity firms offer the experience to offset labor shortage with skilled management and productivity gains.' Bain & Company, in a report published last spring, said that Japan was the leading deal market in Asia-Pacific in 2023 with private deals as the dominant strategy, noting 'more companies are preferring to go private.' And the capital needed to complete deals via limited partnerships is plentiful. 'There is increasing LP appetite for Japan,' noted Sebastien Lamy, co-head of Bain & Company's Tokyo-based Asia Pacific PE practice. PE firm Carlyle, based in Washinton, DC, with investments and operations globally, is also focused on Japan. In a report last September, the firm pointed to the positive regulatory changes, the attractive valuations, the stable political climate and the continued investment opportunities. 'We are seeing many overseas GPs [general partners] establish offices in Japan for the first time,' the firm said. And, in an analysis last year, the management consulting firm, McKinsey & Company, noted that, while Japanese private equity is a growing presence in the financial landscape, the industry still has more room to grow. Increasingly, western private equity players have gotten the message. Owen Blicksilver is a New York-based public relations executive specializing in private equity.
