ACWA Power board recommends adding one member

Logo of ACWA Power Co. 

ACWA Power Co. announced, on Nov. 28, a recommendation (through circular resolution) on amending the company’s bylaws to raise the number of board member seats from 11 to 12, the company said in a statement to Tadawul.

The recommendation is subject to the enforcement of the Companies Law issued pursuant to Royal Decree (M/132) and its executive regulation dated June 30, 2022, the statement added.

This expand aims at enriching ACWA Power board of directors with diversified experiences, qualifications and capacities, which will consequently have a positive impact on the board related committees.

ACWA Power further pointed out that all necessary approvals from the competent authorities will be obtained. The recommendation will be proposed during the next extraordinary general meeting, which will be announced later.