GASCO board recommends transformation into holding company

17/12/2024 Argaam
Logo ofNational Gas and Industrialization Co. (GASCO)

Logo of National Gas and Industrialization Co. (GASCO)

National Gas and Industrialization Co.’s (GASCO) board of directors, on Dec. 16, approved the recommendation to transform the company into a holding company.

 

In a statement to Tadawul, the company said that this recommendation will be submitted to the extraordinary general meeting (EGM) for voting after obtaining the necessary approvals in accordance with applicable laws and regulations.

 

 

The decision aligns with the company's long-term strategy, which aims to enhance administrative and financial efficiency through the holding company's supervision of the management of its wholly owned subsidiaries.

 

GASCO will continue to provide all LPG-related services as usual and as currently practiced through its subsidiaries licensed by the Ministry of Energy. The move will not have any impact on the workflow or services provided, the statement said.

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