Herfy shareholders to vote on Chairman’s dismissal on Nov. 4

A branch of Herfy Food Services Co.

Herfy Food Services Co.’s board of directors invited shareholders to attend and vote on the dismissal of Chairman Moataz Al-Azzawi at the ordinary general meeting (OGM) scheduled for Nov. 4.

For more news on listed companies

In a statement to Tadawul, the company pointed out that the move followed a request from a major shareholder, Ahmed Al-Saeed, who owns more than 10% of Herfy’s capital.

In March 2022, Al-Saeed requested a general meeting to vote on the dismissal of Al-Azzawi and board member Khalid Al Saeed. The shareholders disapproved the request.

The shareholders rejected the proposal to remove the chairman but approved the dismissal of Al Saeed, Argaam earlier reported.

Al-Saeed holds a 15.30% stake in Herfy, while Savola Group owns 49% of the company’s share capital.