Page 21 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

Seventh: ISX General Assembly

The general assembly of companies listed on the Iraq Stock Exchange held its annual meeting
on Saturday, May 27, 2023, at 10 am, with the presence and participation of 53 out of 101
companies entitled to vote. The meeting was set to elect a representative of the joint-stock
companies to membership of the ISX Board of Governors for the term 2023-2024.
The Exchange General Assembly held its annual meeting at Babylon Hotel on Sat May 27,
2023, in the presence of 30 out of 38 members of the GA who represent brokerage companies
operating at the ISX, which are eligible to vote. Among the outcomes of the meeting were:

1. Approving the ISX's final financial statements and the Auditor's report for the
fiscal year ended Dec 31, 2022.
2. Approving the 2022 Year Book.
3. Approving the Exchange Board of Governors’ plan of action.
4. Electing members of the Exchange Board of Governors for the term 2023-2024.

The Commission was represented by its Oversight and Legal Departments to observe the
procedures being taken for organizing the meeting. Pursuant to Law No. 74 of 2004, Internal
Administrative By-laws of the Iraq Stock Exchange for 2008, and the decisions made by the
ISX General Assembly, the new board consists of the following members:

1. Tha'er Adnan Hashim: Chairman of the ISX Board of Governors.
2. Taha Ahmed Abdulsalam: (member) CEO of the ISX.
3. Mu’taz Waleed Ahmed: (member) representative of shareholding companies whose
membership was terminated in Dec. 2023.
4. Ahmed Basim Mohammed: (member) representative of the Iraqi Association of
Securities Dealers (IASD).
5. Ashraf Akram Salih: (member) representative of authorized brokerage firms.
6. Dr. Thamir Ja’fer Abbas: (member) expert in information technology.
7. Rami Abbas Al-Tamimi: (member) independent expert.
8. Mohammed Abdulameer: (member) independent expert.
9. Yasir Yahia Abdulkareem: (member) independent expert.

The Iraqi Securities Commission issued its official letter No. 13l17 on Oct. 31,2023, amending
the Internal Administrative By-laws of the Iraq Stock Exchange for 2008 so as to include the
following:

i. Amending Paragraph 4-2-2 to read as follows: “All Governors shall be elected for a
term of two year, with three possible extensions, except for the CEO who shall be
appointed in accordance with the procedures set out in these By-laws regarding the
appointment of the Exchange employees.”
ii. The Commission has the authority to make exceptions to what is indicated in the first
paragraph above according to the requirements of public interest.
iii. Any change to membership structure of the Exchange Board of Governors must obtain
a prior approval of the Commission.

Pursuant to this amendment, the ISC agreed to extend the term of the current Board of
Governors as mentioned above.

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