SAPTCO to start e-voting for general meeting on April 23

Saudi Public Transport Co. (SAPTCO) will adopt electronic voting as of April 23 on the agenda items of its ordinary general meeting to be held on April 27, 2020, according to a bourse filing on Tuesday.

The company said in a statement to Tadawul that shareholders will participate and vote on the meeting agenda through Tadawulaty system, as per the Capital Market Authority’s (CMA) circular, issued on March 16, in line with the government’s efforts to prevent the spread of coronavirus.

SAPTCO’s shareholders are set to vote on withholding dividend for the fiscal year 2019 and on businesses and contracts concluded between the firm and its 50% owned subsidiary, Saudi Emirates Integrated Transportation Co. (SETCO), Argaam earlier reported.

The contracts include a technical and services agreement worth SAR 3.4 million, selling 350 used buses worth SAR 32 million and providing a SAR 10 million interest-free loan to SETCO to meet its operational commitments.