Logo of Development Works Food Co.
Development Works Food Co.'s shareholders rejected the board’s recommendation to increase capital through a SAR 216 million rights offering, during an extraordinary general meeting (EGM) held on Dec. 6.
The company said in a statement on Tadawul that the EGM refused to approve amending the company’s bylaws in accordance with the new companies’ bylaws.
Meanwhile, shareholders agreed to amend Article No. 7 of the company’s bylaws, related to the capital, and Article No. 8 related to subscription to shares.
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