Elm shareholders approve amending articles of association

Elm Co.’s shareholders approved amending articles of association in accordance with the new Companies Law and rearranging the articles according to the proposed amendments, the company said in a statement to Tadawul.

During the extraordinary general meeting (EGM) held on Nov. 30, shareholders also approved the amendment to articles of association related to the purpose of the company, trading shares, company management, as well as the powers of the board of directors, chairman, deputy chairman, and secretary. 

In addition, shareholders agreed to amend the dividend policy, as well as the charters of audit and nominations and remuneration committees. They also approved amending the remuneration policy of the board of directors, its subcommittees, and the executive management, as well as the nomination policy and standards for board membership.