Shams General Assembly Approves Removal of Board Members, Elects New Board
Shams Company logo. The ordinary general assembly of Shams approved the removal of the current board members based on a request submitted by some shareholders owning shares representing 10.04% of the company's capital, namely: - Saeed bin Saleh bin Abdulaziz Babiker. - Luma International Investment Company. - Sons of Saleh Abdulaziz Babiker for Trade and Contracting Company. The company stated in a statement on Tadawul that this was due to the company recording financial and operational results below shareholders' expectations and accumulated losses, therefore continued decline in shareholders' equity and suboptimal utilization of available resources...
Shams General Assembly Approves Removal of Board Members, Elects New Board
Shams Company logo
The ordinary general assembly of Shams approved the removal of the current board members based on a request submitted by some shareholders owning shares representing 10.04% of the company's capital, namely:
- Saeed bin Saleh bin Abdulaziz Babiker. - Luma International Investment Company. - Sons of Saleh Abdulaziz Babiker for Trade and Contracting Company. The company clarified in a statement on Tadawul that this was due to the company recording financial and operational results below shareholders' expectations and accumulated losses, and consequently the continued decline in shareholders' equity and suboptimal utilization of available resources to develop its business and main activities. The general assembly also approved the election of board members from among the candidates for the next term, which begins on 17/07/2026 and lasts four years, ending on 16/07/2030.
The voting result was the election of the following individuals to the board membership:
- Saif bin Fahid bin Ayed Al-Harbi. - Majid bin Nawar bin Saleh Al-Otaibi. - Fares bin Abdulrahman bin Ibrahim Al-Fares. - Nasser bin Khalaf bin Awad Al-Barak. - Sarah bint Fahd bin Abdullah Al-Subaie. - Khalid bin Mohammed bin Ali Al-Qazlan. - Fawaz bin Abdul Sattar bin Abdullah Al-Alami.
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Original source: Argaam
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