DEWA Opens Board Nomination for Shareholders
Dubai Electricity & Water Authority (DEWA) opens nominations for its Board of Directors, inviting eligible shareholders to apply.
Summary
DEWA has announced the opening of nominations for its Board of Directors, inviting eligible shareholders to apply. The nomination period runs from February 28 to March 10, 2025.
The Dubai Electricity & Water Authority PJSC (DEWA), a cornerstone of Dubai's infrastructure, has announced the opening of nominations for its Board of Directors. This significant move invites eligible shareholders to participate in shaping the future of one of the most critical utilities in the United Arab Emirates.
From February 28 to March 10, 2025, shareholders can submit their applications either physically at DEWA's headquarters or electronically. The process is part of DEWA's commitment to transparency and inclusivity, ensuring that the Board reflects a diverse range of perspectives and expertise.
DEWA, established in its current form in 2021, has been pivotal in supporting Dubai's rapid growth by providing reliable electricity and water services. The company’s decision to open up board nominations is a strategic move to align with modern corporate governance practices, as outlined in the UAE's commercial laws and the Joint Stock Companies Governance Guide.
With 11 positions available, the Board will significantly influence DEWA's strategic direction. Candidates must meet specific criteria outlined in Federal Decree-Law No. 32 of 2021 and the governance guide, ensuring that only qualified individuals are considered.
Investors should view this development as a positive step towards enhancing corporate governance and transparency at DEWA. The inclusion of new board members could bring fresh insights and strategies, potentially leading to improved operational efficiencies and financial performance.
Given DEWA's strong market position and its essential role in Dubai's infrastructure, the opening of board nominations is a promising sign of its commitment to adapt and grow. For investors, this could mean a stable and potentially lucrative investment opportunity. Therefore, the recommendation is to hold DEWA shares, as the company continues to evolve and strengthen its governance framework.
Source
Summary
Dubai Electricity and Water Authority PJSC (DEWA) has announced the opening of nominations for its Board of Directors. The nomination period is from February 28, 2025, to March 10, 2025. Eligible shareholders can submit their applications either in person at the company's headquarters in Dubai or electronically. Applications must include a brief introduction of the applicant and specify the type of membership desired (executive, non-executive, or independent). The necessary forms and requirements are available on DEWA’s investor relations website. Eleven board members will be elected, and candidates must meet specific legal and governance criteria. Once the nomination period ends, candidates cannot transfer their nomination to another person.
