Riyadh – Mubasher: Basic Chemical Industries Company (BCI) revealed that its shareholders approved several significant amendments to the Articles of Association during an extraordinary general meeting (EGM) held on 17 June 2026, according to a bourse filing.
The assembly addressed fundamental aspects of the company’s governance, including the authorities of the board and the chairman, as well as the company’s registered purposes and headquarters.
A primary focus of the assembly was the formal amendment of four specific articles within the company’s bylaws. Shareholders granted their approval for the modification of Article 3, which pertains to the company’s head office location, and Article 4, which defines the company’s purposes and business objectives.
These updates ensure that the foundational legal documents of BCI accurately reflect its current administrative structure and the scope of its industrial and commercial operations.
Furthermore, the EGM approved amendments to Article 16 and Article 18 of the Articles of Association. Article 16 governs the powers and responsibilities of the Board of Directors, while Article 18 specifies the authorities granted to the Chairman of the Board.
These revisions are designed to refine the company’s internal governance framework, clarifying the roles and decision-making powers of the senior leadership.
The approval of these amendments signifies a formal update to BCI’s corporate charter. By securing shareholder consent for these changes, the company ensures that its legal and operational structures remain in alignment with its current strategic direction and the broader regulatory environment in the Kingdom of Saudi Arabia.
This modernization of the company’s bylaws provides a clearer framework for executive oversight and operational management, marking a significant step in the company’s ongoing commitment to robust corporate governance.
