WSM shareholders approve amendments to Articles of Association

WSM for Information Technology Co.’s shareholders approved amending the company’s Articles of Association, during the extraordinary general meeting (EGM) held on June 27, according to a statement to Tadawul.

During the meeting, shareholders approved amending Article 13 related to the company's repurchase, sale and mortgage of its shares and agreed on adding Article 16 related to debt and financing instruments.

They also ratified amending Article 19 on the powers of the board of directors and Article 21 on the powers of the Chairman, Vice Chairman, Managing Director and Secretary.

Meanwhile, shareholders approved amending the company's Articles of Association in accordance with the new Companies Law as well as rearranging and numbering the articles to be consistent with the proposed amendments.