Al-Baha amends EGM agenda, postpones capital increase

Al-Baha Investment and Development Co. announced postponing the discussion of capital increase through rights issue after coordination with the Capital Market Authority (CMA) and Securities Depository Center Co. (Edaa) during the extraordinary general meeting (EGM) to be held on Feb. 21

The company will call for an EGM to vote on capital increase later, Al Baha said in a statement to Tadawul.

According to amended meeting agenda, Al Baha shareholders will also vote on amending the articles of association related to its objectives; bylaws; board authorities; meetings and quorums; the audit committee and financial documents.

They will also discuss authorizing the board of directors to grant the Ordinary General meeting (OGM) the authorization stated in Article 71 of the Companies Law, for a period of one year from the date of the OGM approval or until the end of the board term, whichever is earlier.

Other agenda items include the vote on appointing an auditor for Q2, Q3, 2022 and Q1 2023 financials, and determine its fees.