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Saudi Paper Manufacturing Company’s announcement of the Board of Directors’ recommendation to the extraordinary general assembly of shareholders
| Element List | Explanation |
|---|---|
| Announcement Detail | The Saudi Paper Manufacturing Company announces that, based on the issuance of the new companies’ system and its executive regulations, and the issuance of the amended corporate governance regulations by the Board of the Capital Market Authority, the Board of Directors decided on 08/03/1445 AH corresponding to 02/13/2024 AD to recommend to the extraordinary general assembly to amend the company’s bylaws. And harmonize it in accordance with the aforementioned regulations. Among the most prominent amendments are the following: 1- Canceling the limit of the company’s term specified in the company’s bylaws at (99) years. 2- Cancel the statutory reserve item in the bylaws, and submit to the General Assembly the transfer of the entire balance of the statutory reserve to the retained earnings account. These recommendations are subject to the approval of the competent authorities and the extraordinary general assembly of shareholders |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 69.0
Net Change 1.2 (+1.77%)
Value Traded (Sar) 8,135,235.1
Volume Traded 118,515
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