The Capital Market Authority (Tadawul) has called on 381,700 holders of 188,635,000 old share certificates worth SR7.5 billion to report to the Authority for updating their portfolios to receive their profits from previous years. In a statement to Saudi Press Agency (SPA), the Authority's Chief Executive Officer Abdullah Al-Suweilmi pointed out that these holders, with no information, possess about 448,000 certificates which were not listed in investment portfolios. He stressed the importance of depositing these certificates in investment portfolios. He added that shareholding companies are keen on shareholders depositing their shares. Meanwhile, listed companies attach great importance to updating their records and information on shareholders so as to ensure communicating with them. He said they have developed “Tadawulaty” system besides adding direct contact facility with the shareholder, with the objective of providing him/her with all the news and the latest developments and distribution of profits in cash or in kind. Al-Suweilmi further said the company has facilitated matters for certificate holders and has taken their geographical distribution and the regions where they are living. It has enabled them to confirm if they own certificates through the website http://tadawulaty.tadawul.com.sa aside from other methods available to shareholders.
