ACWA Power shareholders to elect board members Jan. 5

Shareholders of International Company for Water and Power Projects (ACWA Power) will discuss, during the extraordinary general meeting (EGM) to be held on Jan. 5, 2022, dissolving the current board that started from July 5, 2019.

The company said in a statement to Tadawul that the board dissolution will be effective from the EGM date.

Shareholders will also elect board members for the next three-year term, commencing from the meeting date until Jan. 4, 2025.

Further, they will vote on dissolving the current audit committee, effective from the EGM date.

The agenda items also include voting on the formation of the audit committee, and the definition of its duties, work regulations and remuneration of its members for the new term.

The audit committee candidates are Khalid Rabiah as Chairman, as well as Mike Cheng, Abdullah Al Rowais, Li Ping and Rasheed Al Rasheed as members.

Shareholders will vote on the amendment of Articles No. 1 and 2 of the company’s bylaws relating to incorporation and the company's name, respectively.