SPIMACO shareholder calls for meeting to vote on dismissing board

Saudi Pharmaceutical Industries and Medical Appliances Co. (SPIMACO) said it received a letter from shareholder Amin Shaker, requesting to hold an extraordinary general assembly meeting to vote on dismissing all board members.

Shaker also asked to vote on dismissing the audit committee and electing a new board for a three-year term, the company said in a bourse statement.

The current board of directors’ term ends on April 2, 2019.

The company opened new board nominations on August 1, 2018.

SPIMACO said it would disclose the date of the general assembly meeting as per the shareholder’s request after obtaining required approvals.