Samba to start e-voting on EGM agenda today

25/02/2021 Argaam

Samba Financial Group will start today, Feb. 25, 2021, the electronic voting on the agenda of its extraordinary general meeting (EGM), slated for March 1, 2021, according to a bourse filing.

 

Shareholders will vote on the planned merger with National Commercial Bank (NCB), which will take place through the issuance of 0.739 new share in NCB for each share in Samba. They will also endorse the merger agreement signed between the two sides on Oct. 11, 2020.

 

The move came after the Capital Market Authority (CMA) issued, on March 16, a circular to enable shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent the spread of coronavirus.

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