Ash-Sharqiyah Dev postpones EGM for lack of quorum

21/01/2020 Argaam

 

Ash-Sharqiyah Development Co. said in a bourse statement on Tuesday that its extraordinary general assembly (EGM) slated for Jan. 20 was not held due to the lack of quorum.

 

The company will invite shareholders for another general meeting after obtaining the relevant approvals, the statement added.

 

According to data compiled by Argaam, the EGM was called to discuss increasing the company’s capital from SAR 75 million to SAR 120 million by issuing 4.5 million shares to acquire 2 real estate assets.

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