Riyadh – Mubasher: L'azurde Company for Jewellery said its extraordinary general meeting (EGM) approved on 22 November amendments to the company's bylaws, according to a statement.
The shareholders approved the company’s right to establish a limited liability or closed joint stock companies with a capital of not less than SAR 5 million.
The jewelry retailer is also entitled in to enter into partnerships with other firms which perform similar activities, or own stakes in other outstanding entities.
The company may also own shares in such companies and other existing ones, as well as merge with, be taken over by, or purchase such firms.
The company’s chairman and managing director were also given permissions to establish representation offices, and local or international agency offices, subject to the approval of the board.
