Al-Fatah Real Estate Co. amended Article (17) of its Articles of Association

تم النشر على almowazi.com في 13 أغسطس 2023

Al-Fatah Real Estate Company held its Extraordinary General Meeting (EGM) on Monday, 26 July 2023. During the EGM, a revision to Article (17) of the company's Articles of Association was approved, with the following amendments: The Chairman of the Board of Directors and all board members are prohibited from engaging in business activities similar to or competitive with those of the company. They are also restricted from having any direct or indirect interest in agreements or transactions conducted with the company or on its behalf. Furthermore, any conflicts of interest with the company must be avoided, unless specific permission is granted by the company's Annual General Meeting (AGM). Board members are not allowed to be involved in the management of a company that operates in similar or competing activities. Additionally, the Chairman of the Board of Directors or any of its members, even if they represent a legal entity, are barred from utilizing information acquired in their capacity to benefit themselves or others. Board members may engage in trading their shares during their tenure as board members.

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