Al-Samaani shareholders to vote on amending articles of association on Oct. 29

Al-Samaani Factory for Metal Industries Co.’s shareholders are set to vote on amending the articles of association during the extraordinary general meeting (EGM) scheduled for Oct. 29, 2020, the company said in a bourse statement on Wednesday.

Shareholders will discuss amending Articles 2 and 4 on the company’s name, acquisition and partnership, Article 5 on preferred shares and Article 6 on share buyback.

They will also vote on amending Article 46 on dividend distribution.

Other amendments will cover the board authorities, meetings, and quorum.

Shareholders will also discuss the board of directors’ decision to appoint Omar bin Abdul Aziz Al Zabin as an independent board member, as well as Abdullah Al Kobraish and Azzam Al Mufdi as new audit committee members.

Shareholders registered in Tadawulaty system will be able to participate and vote on the agenda items as of Sunday, Oct. 25.