Riyadh — Mubasher: Development Works Food Company announced that its second extraordinary general meeting (EGM), scheduled for 16 September 2026, failed to convene due to a lack of legal quorum.
The meeting was originally set to take place at 20:30 at the company's headquarters in Riyadh via modern technology.
The company reported that shareholder attendance reached 14.21%, which was insufficient to proceed with the session.
This second meeting had been scheduled to occur one hour after the first meeting, which also failed to meet the necessary quorum requirements.
Development Works Food stated it will issue a call for a third extraordinary general meeting after coordinating with relevant authorities to determine a new date.
Under Saudi regulations, the third meeting will be considered valid regardless of the number of shares represented by the attending shareholders.
The company confirmed that the lack of quorum has no impact on the board’s recommendations regarding capital changes or dividends at this stage.
