BHC opens private market services to shareholding closed companies

TDT | Manama                                                                        

The Daily Tribune – www.newsofbahrain.com

Bahrain Clear (BHC) will today commence providing the services of Bahrain Private Market to shareholding closed companies. BHC had announced the launch of Bahrain Private Market at the beginning of this month.

The Bahrain Private Market is a new comprehensive platform for closed shareholding companies that aims to provide a full suite of bespoke share registrar services in a secure and electronic format in accordance with issued Decree No. (09) of 2022 in relation to commercial registration services published in the Official Gazette No. (3594).

The platform will enable closed shareholding companies to access, connect, manage and execute their transactions in an efficient and effective manner. The shares will be held in safe custody by Bahrain Clear to ensure the safe keeping and visibility to the company’s shareholders.

Bahrain Private Market will offer a range of services for closed shareholding companies with a total annual fee of BD 500 which includes change of partners (trading between existing shareholders), authorized signatories, directors, and company type and mergers.

In addition, closed shareholding companies can transfer company ownership, increase/ decrease in capital, preform pledging and unpledging transactions, discharge & lifting, and judicial custodianship. The platform also provides for additional add-on services such as AGM management services (physical and eAGM), cash dividend distributions, share options, and auction services, eVoting, and consolidated statements.

Chief Operating Officer of Bahrain Clear, Abdulla Abdin clarified, “The new services that have been provided to public shareholding companies are now being offered to closed shareholding companies via Bahrain Private Market.”