United Wire Factories Co. (Aslak) is set to adopt electronic voting as of Saturday, July 11 on the agenda items of its extraordinary general assembly meeting (EGM) that will be held on July 15, according to a bourse filing on Thursday.
The step follows the Capital Market Authority’s (CMA) directives enabling shareholders to participate and vote on related meeting agenda through Tadawulaty system in line with the government’s efforts to prevent spread of coronavirus.
Last month, the company invited its shareholders to vote on a 20% capital cut to SAR 351 million from SAR 438.75 million on having a capital surplus, according to data compiled by Argaam.
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