SIDC shareholders to vote on granting general assembly powers to board on June 8

Logo of Saudi Industrial Development Co.’s (SIDC)

Saudi Industrial Development Co.’s (SIDC) shareholders will vote on granting the general assembly’s powers to the board of directors, during the ordinary general meeting (OGM) that will be held on June 8, according to a Tadawul statement today, May 17.

This will be in accordance with the Companies Law for a period of one year from the date of approval by the general assembly or until the end of the delegated board of directors’ term, whichever is earlier.

Shareholders will also vote on the company’s financial statements as well as the board and auditors’ reports for 2022. They will vote on absolving board members for the same year.

The shareholders will start e-voting on the meeting agenda on June 5.