Abdullah Alkahtani

Securities Depository Center Company (Edaa)

Securities Depository Center Company ("Edaa") was establish in 2016 as a closed joint stock company in accordance with the Saudi Companies Law issued by Royal Decree No. M/3 dated 28/01/1437, with a capital of SAR 400,000,000 divided into 40,000,000 shares, with a nominal share value of SAR 10, and is fully owned by Saudi Stock Exchange (Tadawul). The establishment was upon the Capital Market Authority (CMA) approval of Tadawul's Board of Directors request in relation to converting the Securities Depository Center into a joint stock company in accordance with the Capital Market Law (CML) issued by Royal Decree No. M/30 dated on 2/6/1424H. "Edaa" aims to emulate Capital Market Strategic objectives in relation to developing infrastructures and subsequent procedures to execute transactions in alignment with international standards. It also aims to enhance the efficiency of securities deposit and registration services offered by the securities depositary center in alignment with Saudi Vision 2030 through developing a more resourceful environment that fosters excellence within all sectors related to the capital market. The principal activities of "Edaa" is to operate and maintain the Depository and Settlement System (DSS), an electronic book-entry system used to record and maintain securities and to register the ownership of securities. In addition to linking center members through the DSS. "Edaa" also offers several added-value services such as the management of issuers' general assemblies (GM) including remote voting services (e-Voting), reporting, notifications, and maintenance of critical core data as well as providing other related services. "Edaa" facilitates equity, debt, Sukuk and bonds, ETFs, REITs, Mutual Funds and other financial instruments in the Saudi Arabian Capital Market.