On May 24, 2019, the annual general meeting of shareholders of UZEX JSC in 2018 was held at the central office of the exchange.
During the event, shareholders approved the company's annual report on financial and economic activities, reports of the Supervisory Board and the Audit Commission for 2018. The meeting elected a new composition of the Supervisory Board and the Audit Commission.
For the first time in the history of the activities of UZEX JSC, a foreign investor took part in the joint-stock meeting of the company, which gave a positive assessment of the exchange for 2018.
In his speech to shareholders, Chairman of the Board of UZEX Ibragimov Farohidin noted that the activities of the exchange in 2018 were aimed at the practical implementation of the most important priorities of the economic development program of the country and the Exchange Development Strategy for the medium term (2016-2018) years) periods.
At the end of 2018, the volume of transactions concluded on the stock exchange amounted to 31.8 trillion soums, which is 129.6% or 2.3 times more than the 2017 figure. At the same time, growth was noted across all trading platforms. Exchange exports grew 2.1 times and amounted to $ 125.9 million.
The total volume of transactions concluded with the participation of small businesses and private entrepreneurship reached 15.9 trillion soums, which is 70% more than in 2017. Entrepreneurs purchased commodity resources for 11.2 trillion soums through the exchange and sold their own products for 4.7 trillion soums.
On the exchange trading platform, the company-sellers received additional income due to the formation of real market prices at the auction in the amount of 3.9 trillion soums.
During the reporting period, large-scale work was carried out to develop external relations, expand the trade infrastructure, increase trading transparency and ensure the information security of electronic exchange systems.
Communication was established and cooperation with the ETS Commodity Exchange (Kazakhstan), the Belarusian Universal Commodity Exchange, the Kyrgyz Stock Exchange, the State Commodity and Raw Materials Exchange of Turkmenistan, the Caspian Commodity Exchange (Kazakhstan), Moscow Exchange JSC, Saint Petersburg St. Petersburg International Commodity Exchange ”, St. Petersburg Commodity Exchange, Istanbul Exchange, Armenian Exchange and other foreign exchanges.
In Kazakhstan, Belarus, China and Russia, 8 foreign trading platforms have been opened, 20 foreign brokerage houses and over 110 foreign bidders have been accredited.
In accordance with the recommendations of the Supervisory Board, shareholders decided to allocate 52.2% of net profit for 2018 to dividend payments. A dividend per ordinary share provides 87.3% of the dividend yield to shareholders.
In accordance with the requirements of the Corporate Governance Code, an independent evaluation of the corporate governance system of UZEX JSC was carried out, according to the results of which the final assessment was recognized high and amounted to 1177 points, which is 98.08%. These events allowed to increase the transparency of the exchange and strengthen the role of shareholders in the strategic management of the company.
The priority tasks for 2019 are the improvement of trading systems and the introduction of new exchange services, the automation of business processes, the development and implementation of new types of electronic services in settlements and logistics.
According to the results of the meeting, the work of the Management Board of UZEX JSC for 2018 was found to be satisfactory.
Source: : Пресс-служба АО УзРТСБ
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