SIDC shareholders to vote on amending articles of association on Feb. 6

Saudi Industrial Development Co.’s (SIDC) shareholders will vote on amending the articles of association during the extraordinary general assembly meeting, slated on Feb. 6.

Shareholders will vote on amending the articles related to the incorporation and name of the company, the purposes of the company and participation and ownership in other companies, according to a statement to Tadawul.

Additionally, they will vote on amendments to articles concerning Head Office, the term of life of the company, board members' remuneration, the powers of the Chairman, Vice Chairman, Managing Director, and Secretary, the quorum

of the board meeting, the board's deliberations and shareholders’ rights and attendance at assemblies.

Meanwhile, they will vote on amending to the company's Articles of Association as aligned with the new Companies Law and reordering and renumbering the articles to match the proposed amendments.