Riyadh – Mubasher: Al Baha Investment and Development’s extraordinary general meeting (EGM) will meet on 10 July to discuss liquidating the company ahead of schedule to carrying on with its operations.
The EGM will also vote on amending the company’s articles of association to be in in line with the new corporate law as well as vote on the financial statements and review the auditor’s report for 2015, according to a filing to the Saudi Stock Exchange (Tadawul) on Wednesday.
This EGM meeting will be the third for the company and will be final regardless of the number of shareholders present, the filing added.
Al Baha reported profits of SAR 185.3million in May 2016, marginally trimming its accumulated losses by the end of May to 123.5% of capital, which amounts to SAR 150 million.
