MESC shareholders grant board of directors same power of general assembly

Middle East Specialized Cables Co.’s shareholders have approved granting the company’s board of directors the same power of the general assembly during the meeting that was held on August 18, the company said in a bourse statement.

The power is granted for one year from approval or until the end of the current term, whichever is closer.

Shareholders have also elected members of the audit committee for the current term, the statement added.