Ilm shareholders approve governance changes

Shareholders of "Elm" Company approved during the extraordinary general assembly meeting, which was attended by 78% of the company's shares, numerous amendments to the company's bylaws and the regulations of the committees established by the Board of Directors. The amendments included reordering and renumbering articles to comply with the requirements of the Saudi Center for Competition. They also involved modifications related to the company's establishment, name, objectives, main headquarters, capital license, and share subscription. All these amendments received approval exceeding 99%. Additionally, changes were adopted concerning company management, the termination of board memberships, board powers, member compensation, and the quorum for board meetings. Updates were also made to internal policies related to the working regulations of the Audit and Nominations Committees, criteria for board membership nominations, and the dividend distribution policy.

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