Riyadh – Mubasher: Mohammad Al Mojil Group Company announced Sunday that its ordinary and extraordinary general meeting (OGM, EGM) on 2 May.
The EGM will discuss the liquidation of the company or continuing its business activity, and authorising the company’s board of directors to take necessary measures with competent authorities.
Shareholders are also set to vote on amendments to the articles No. (16) in the company’s statute to cut the number of board member from 7 to 5.
Meanwhile, the EGM will look into the board’s report on the fiscal year 2015.
The company’s accumulated losses reached SAR 3.56 billion at the end of February, or nearly 285% of the capital amounting to SAR 1.25 billion.
