Sinad Holding shareholders grant OGM powers to board

Sinad Holding Co.’s shareholders approved granting the board of directors the authority of the ordinary general assembly (OGM) according to the Companies Law, during the OGM held on May 28, the company said in a statement on Tadawul.

OGM powers will be granted the board for a period of one year from the date of approval or until the end of the delegated board term, whichever is earlier.

Shareholders also approved the board as well as the auditor’s reports and the financial statements for 2022 and discharged the board of directors from liabilities during the same period.