SAB GA approves amending bylaws article related to capital increase

The Board of Directors of the Saudi British Bank (SAB) announced the results of the Extra Ordinary General Assembly’s Meeting (First Meeting) held on Wednesday, whereas the items included approval of amendment of Article (13) of the Company’s bylaws related to Capital Increase.

Approved amending Article (2) of the Company’s bylaws relating to (Company Name).

Approved amending Article (16) of the Company’s bylaws relating to (Issuance and Offering of Debt Instruments).

Approved amending Article (22) of the Company’s bylaws relating to (Authorities of the Chairman, Vice-Chairman and Managing Director).

Approved amending Article (23) of the Company’s bylaws relating to (Authorities of the Managing Director).

Approved amending the Bylaws to align with the new Companies Law.

Approved the rearrangement of articles and their numbering in the Company’s Bylaws.

Approved amending the Audit Committee Terms of Reference.