Alhokair Group shareholders approve redirecting offering proceeds usage

Shareholders of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) approved redirecting the use of the offering proceeds as mentioned in the results announcement on Aug. 8 and the prospectus published on June 20, during the ordinary general meeting (OGM) held on Dec. 15.

They also ratified the business contracts, which were concluded between the company and other business parties, the company said in a bourse statement.

During the meeting, shareholders approved amending the investment agreement of Half Moon Hotel - Mena Holiday Resort - with Halfmoon Resort Company (a related party).

In addition, they endorsed amending the remuneration policy for the board of directors, its committees, and the executive management.