Ezdan to Become Private Joint Stock Company

 

May 24, 2017

 

The Extraordinary General Assembly of Ezdan Holding Group yesterday approved in principle to change the company from a public shareholding company to a private joint stock company upon fulfillment of all financial and legal requirements.   The general assembly authorized the Board of Directors to appoint evaluators to prepare the financial statement of the company’s assets, its deductions and its approximate value.


 In addition to fair statement of value of the share as it was on April 30, 2017.


These statements will be presented to shareholders during a meeting to be held later for approval.  
The General Assembly also authorized the Board of Directors to develop amended statute of the company in line with the type of the company which has been approved in principle (Private Joint Stock Company) in order to be approved by the shareholders in upcoming meeting.
Shareholders have the right to object the decision to change to Private Joint Stock Company, can apply for ending their shares within 60 days from the date of the decision.


 This also apply to absentee shareholders, a press notice from the company said yesterday.