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.
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