Al-Khodari shareholders to vote on sacking 3 board members on July 23

Abdullah A. M. Al-Khodari Sons Co.’s (Al-Khodari) shareholders are set to vote on dismissing 3 board members during the general assembly meeting that will be held on July 23, 2020, the company said in a bourse statement.

In May, the company received a letter of request from a group of shareholders, who own about 5.007% shares of the company's capital, to dismiss Abdullah Al-Khodari, Jamil Abdullah Al-Khodari and Fawwaz Abdullah Al-Khodari from the board of directors.

Shareholders will also vote on filing a liability lawsuit against the former board of directors for their mismanagement of company affairs and delegating the current board to take all regulatory procedures for the lawsuit.

Additionally, they will authorize the current board of directors to delegate a company’s representative before the competent courts.

Meanwhile, they will vote on electing members of the board’s audit committee for the current three-year term ending on May 6, 2023.

Electronic voting on the meeting's agenda items will be allowed starting from July 19, 2020.