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The following note was sent by one of Tehran Stock Exchange’s foreign shareholders after the annual meetings held on 17 July 2016.
Yesterday I had the luck to visit my first yearly shareholder meeting (AGM) of the Tehran Stock Exchange (TSE) in Iran. As a foreigner it was important for me, to see and to understand, how an Iranian shareholder meeting is. We foreigner we talk a lot about Iran, mostly without personal experience and only with the source, somebody said or I heard something.
When I arrived I was impressed about the size and the interest of the Iranian shareholders. Around 10 registration desks were prepared and as soon the people recognized I am from abroad, I felt again the hospitality of Iran. The stuff treated me very professional and helpful. The registration itself was quick and I got an explanation about my voting rights here in Iran. After finishing the procedure, the CEO Dr. Ghalibaf Asl arrived. For me it was interesting to see, how the CEO got welcomed by the shareholders. It was a warm welcome and he took the time for short small talks and handshaking. Some European CEO´s should learn about this and not to be afraid of their investors. The hall itself was huge and I was impressed by the interest of the retail investors. For the foreign guests was also a reserved area. It seems the Tehran Stock Exchange is expecting foreign investors. At the board I could see the registered shareholders. Over 500! During the meeting it was nearly 700. The updates were real-time. Also the shareholders could see the structure of the visiting shareholder groups of the banks, the brokers and the retail investors; transparency and information are important. The event started nearly on time. After a short introduction of the board, Dr. Ghalibaf Asl was presenting the last year and an outlook. It followed the general debate of the shareholders. This part was again very interesting to see and to compare with the European AGM`s. There was no limitation of the speaking time of the shareholders. The board and the CEO were very patient and the answers very professional. After the debates, voting followed.
My personal conclusion is, Tehran Stock Exchange was very well organized, high standards and an important event for the shareholders. Also I saw and talked to many well-known people of the capital market. It should be not my last shareholder meeting here in Iran.
Stefan R. Kille
