SAPTCO’s shareholders approve amending bylaws

Saudi Public Transport Co.’s (SAPTCO) shareholders approved amending bylaws to be inline with the new companies’ bylaws, during the extraordinary general meeting (EGM) held on May 13, the company said in a statement to Tadawul.

The amended articles include those related to management, board authorities, the authorities of the chairman, deputy chairman, managing director, and board secretary as well as liability claims.

Meanwhile, shareholders granted the board of directors the authorization powers of the general assembly stipulated in paragraph (1) of Article 27 of the Companies law, for a period of one year starting from approval or until the end of the delegated board term, whichever is earlier, in accordance with the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.