Dur shareholders to vote on transforming into holding firm on June 30

08/06/2022 Argaam

Shareholders of Dur Hospitality Co. will vote on the company’s transformation into a holding entity during an extraordinary general meeting (OGM) scheduled for June 30, according to a bourse filing.

 

The holding company will acquire and lease real estate only.

 

In addition, shareholders will vote on establishing another company for hospitality, operation and management of properties owned by Dur and third parties.

 

Shareholders will also vote on a share buyback, part of which will be distributed among employees or allocated for the establishment of a staff fund.

 

They will discuss procedures for reducing the company’s statutory reserve to one-third of its capital pursuant to the Companies Law.

 

The meeting will be held online. Dur’s shareholders can start voting remotely on the agenda items from June 26.

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