Banan shareholders to vote on granting OGM powers to board on Sept. 11

20/08/2023 Argaam

Banan shareholders to vote on granting OGM powers to board on Sept. 11

Logo of Banan Real Estate Co.

Banan Real Estate Co.’s shareholders will vote on delegating the ordinary general meeting (OGM) powers to the board of directors, during the extraordinary general meeting (EGM) scheduled for Sept. 11. 

The OGM powers will be granted for one year from the approval date or until the end of the delegated board term, whichever is earlier, according to a statement to Tadawul. 

The authorization will be valid for real estate, construction, and development activities.  

Shareholders will also vote on amending some articles of association, the statement added.

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