Riyadh — Mubasher: The shareholders of Elm Company have approved a sweeping overhaul of the firm’s bylaws to align with the requirements of the Saudi Center for Economic Efficiency and Business, according to a bourse filing.
The decision was reached during an Extraordinary General Assembly meeting (EGM) held on 25 August 2026, which saw a shareholder attendance rate of 78%.
The primary resolution, involving the restructuring and renumbering of the company’s articles of association, passed with 98.72256% approval.
Shareholders also voted to amend specific articles governing the company’s name, headquarters, and capital structure.
Notably, the amendment to Article 2 regarding the company name received 99.2613% support, while changes to Article 7 concerning capital were approved by 99.26097% of the votes.
Beyond statutory changes, the assembly ratified updates to several internal governance frameworks. These included the audit committee’s work regulations, which passed with 99.25833% approval, and the remuneration policy for board members and executive management, supported by 99.25476% of voters.
Amendments to the dividend distribution policy and the criteria for board membership were also approved, each receiving 99.26093% of the vote.
The meeting was attended by Board Chairman Raed bin Abdullah bin Ahmed and other senior directors.
