Adeer EGM approves amending articles of association

Adeer Real Estate Co.’s shareholders approved amending Articles of Association, including amending Article (2) regarding the company’s name, in their extraordinary general meeting (EGM) held on Sept. 10, the company said in a statement to Tadawul.

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Shareholders also approved the deletion of Article (9) regarding the shareholders’ register and the amendment of Article (10) on the trading of shares, Article (11) on the sale of unpaid shares, as well as Article (18) on the purchase, sale, and pledge of the company’s shares (treasury shares).

Additionally, they approved amending other Articles of Association related to debt instruments and sukuk, the powers of the chairman, vice chairman, managing director, and secretary and committees.

Meanwhile, new articles regarding additional powers of the board and chairman were ratified to be added.

During the meeting, shareholders also approved the amendment of the charter of the remuneration and nomination committee, the remuneration and compensation policy for the board of directors, its subcommittees, and the company’s executive management, the audit committee charter and the policies, standards, and procedures of the board membership.