BCI’s shareholders approve amending articles of association

Basic Chemical Industries Co.’s shareholders approved amending the company’s articles of association to be consistent with the new companies’ law, and re-arranging and numbering the articles to match the proposed amendments.

The decision came during the extraordinary general meeting (EGM) held on Oct. 2.

In a statement to Tadawul, the company said that shareholders also approved amending the working regulations of the audit committee and nominations and remuneration committee.

They also ratified the amendments to the policies, standards, and procedures for membership of the board of directors and the amendment of the remuneration regulations for the board members and senior executives.

The EGM further amended Article (20) of the company's Articles of Association related to board meetings.

Meanwhile, they accepted the board decision to appoint Jassim Al Rumaihi, an independent member from outside the board, as a member of the audit committee starting from June 10, 2024, until the end of the current committee’s term on June 15, 2025. To replace the former committee member, Aziz Al Qahtani. This appointment comes in accordance with the audit committee’s work regulations.