Shams receives request from shareholders to dismiss board

Shams shareholders request board dismissal

Tourism Enterprise Co. (Shams) received a letter from shareholders, who hold 10.4% of the company’s capital, requesting a general assembly meeting to vote on the dismissal of the board of directors and its affiliated committees, according to a statement to Tadawul.

The company said it will take the necessary regulatory procedures in accordance with the applicable laws and regulations and will announce further details in due course.

According to data available on Argaam, Shams shareholders elected in October 2023 the board members for the current term ending on May 27, 2028.