Shamiya Holding Company held its Extraordinary General Meeting (EGM) on Wednesday, 27 April 2022, and agreed to add Article (74) to the Company’s Articles of Association as follows: The board of directors is fully authorized to manage the Company’s affairs and run its business pursuant to its objectives without violating applicable laws, the company’s Memorandum of Incorporation or the resolutions issued by the General Assembly.
The board of directors may sell and mortgage the company’s real estate properties, and conclude the issuance of guarantees, arbitration, reconciliations, and donations on behalf of the company.