The Extraordinary General Assembly Meeting (Deferred) of The Securities House Company was held on Sunday, 17th May 2026, at 11:00 a.m. in the meeting hall at Al Dhow Tower – Sharq Area.
The total attendance of shareholders (electronic and in-person) reached 54.559%. The meeting was chaired by Mr. Yousef Ibrahim Alghanim, Vice Chairman and Chief Executive Officer, who welcomed the attendees. The items listed on the agenda were discussed and approved as follows:
- Approval of the amendment to Article (18) of the Company’s Articles of Association as follows:
Text of Article Before Amendment:
The Company shall be managed by a Board of Directors consisting of five members elected by the shareholders through secret ballot voting.
Any shareholder, whether a natural or legal person, may appoint representatives to the Company’s Board of Directors in proportion to the shares owned by such shareholder in the Company. The number of Board members appointed in this manner shall be deducted from the total number of Board members to be elected. Shareholders having representatives on the Board may not participate with other shareholders in electing the remaining Board members, except to the extent of shares exceeding the percentage used for appointing their representatives to the Board. A group of shareholders may also form an alliance to appoint one or more representatives to the Board in proportion to their combined shareholding.
Such representatives shall have the same rights and obligations as elected Board members. The shareholder shall be liable for the acts of its representatives towards the Company, its creditors, and shareholders.
If the election of a new Board of Directors cannot be completed within the prescribed period, the existing Board shall continue to manage the Company’s business until the reasons preventing the election cease to exist and a new Board is elected.
Text of Article After Amendment:
The Company shall be managed by a Board of Directors consisting of five members elected by the shareholders through secret ballot voting.
Any shareholder, whether a natural or legal person, may appoint representatives to the Company’s Board of Directors in proportion to the shares owned by such shareholder in the Company. The number of Board members appointed in this manner shall be deducted from the total number of Board members to be elected. Shareholders having representatives on the Board may not participate with other shareholders in electing the remaining Board members, except to the extent of shares exceeding the percentage used for appointing their representatives to the Board. A group of shareholders may also form an alliance to appoint one or more representatives to the Board in proportion to their combined shareholding.
Such representatives shall have the same rights and obligations as elected Board members. The shareholder shall be liable for the acts of its representatives towards the Company, its creditors, and shareholders.
The General Assembly may, upon the request of the regulatory authorities, appoint one or more independent members possessing the required expertise and competence, provided that at least 20% of the Board members shall be independent members. In the event of a fraction resulting from the calculation of such percentage, the figure shall be rounded up to the next whole number, provided that the number of independent members shall not exceed half of the Board members.
If the election of a new Board of Directors cannot be completed within the prescribed period, the existing Board shall continue to manage the Company’s business until the reasons preventing the election cease to exist and a new Board is elected.
*These recommendations remain subject to the approval of the competent authorities.
Impact of the Material Information on the Company’s Financial Position:
There is no impact on the Company’s financial position.
