KIC Financial Brokerage Company held its (postponed) Extraordinary General Meeting (EGM) on Thursday, 28 April 2022, and passed a resolution to amend Article (14) of the company’s Articles of Association as follows:
The company is managed by a board of directors consisting of (8) members elected by the general assembly by secret ballot, provided that 20% of the company’s board of directors consists of independent members. Shareholders, individuals, or legal entities may cast their votes to elect board members pro rata to the number of shares they own. Shareholders who are represented on the Board of Directors may not participate with the other shareholders in the election of the remaining members of board members except within the remaining available limits for the appointment of their representatives. A group of shareholders may jointly agree to appoint one or more board members by adding their collective number of shares. 
These representatives shall have the same rights and responsibilities as elected members. The shareholder shall be responsible for the actions of his representatives towards the company, its creditors, and its shareholders.   
If it was not possible to elect a new board of directors on the date specified for that purpose, the existing board shall continue to manage the company’s affairs until the situation is resolved and a new board of directors is elected.