Naseej postpones EGM due to lack of quorum

Naseej International Trading Co. postponed its extraordinary general assembly meeting (EGM) scheduled for Oct. 12, after quorum was not met for first and second meeting, according to a bourse filing.

The attendance rate was 23.17% and 23.57% for the first and second meeting, respectively.

Shareholders were to vote on increasing the company's capital by SAR 150 million to SAR 211.6 million from SAR 61.6 million, during the EGM. 

Naseej will call the third EGM after setting its date and obtaining approvals from the competent authorities, the statement said.

If shareholders approve the capital increase during the third meeting, those holding shares on the day of the EGM will be eligible, along with shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the eligibility date.