Osool & Bakheet Assembly Approves Amendments to Bylaws for Compliance with New Companies Law

Osool & Bakheet Investment Company announced on Sunday the results of the Extraordinary General Assembly Meeting (First Meeting), where the voting results included approval of amending the company’s Bylaws of Association to comply with the new Companies Law, and re-arranging and numbering the articles to comply with the proposed amendments, by (98.56%).

The rest of the results were as follows:

– Approval of amending Article 3 of the company’s Bylaws of Association related to the company’s purposes, by (98.56%).

– Approval of deleting Article 15 of the company’s Bylaws of Association related to the shareholders’ register, by (97.75%).

– Approval of amending Article 42 of the company’s Bylaws of Association related to the formation of the committee, by (98.56%).

– Approval of amending Article 44 of the company’s Bylaws of Association related to the committee’s competencies, by (98.56%).

– Approval of amending Article 45 of the company’s Bylaws of Association related to the committee’s reports, by (98.56%).

– Approval of the policy, standards and procedures for nominating membership in the Board of Directors, by (98.56%).