Friday, 29 March 2024

ACWA Power BOD recommends increasing number of board seats to 12

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ACWA Power Co. (the Company) announced on Tuesday that the Board of Directors recommended (circular resolution) on Monday, November 28, 2022to amend the Company’s bylaws to add one (1) additional board seat, bringing the total number of board seats to twelve (12).
This recommendation is linked to enforcing the new Companies Law issued pursuant to the Royal Decree number (M/132) and its implementing regulations.
The recommendation aims to boost and diversify the experiences and qualifications of the board of directors, further enriching its interaction with and contribution to the related committees.
The Company will get the necessary approvals from the relevant authorities and present this recommendation to the next extraordinary General Assembly, which will be announced separately.

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