The extraordinary general assembly of Zain mobile and internet provider on Monday agreed to amend the articles of association. Chairman Asa'ad Al Banwan and CEO Scott Gegenheimer attended the assembly.
Zain extraordinary general assembly has agreed to amend the articles of association in line with delegated legislation No 97/2013, its bylaw and resolution No 25/2013 of the Board of Commissioners of Kuwait Capital Markets Authority (CMA) on the rules of issuing corporate governance to be applied by companies subject to CMA supervision, the company said in statement.
It added that the extraordinary assembly also agreed to issue bonds and sukuks (Islamic bonds) by a value that does not exceed the ceiling legally permitted, after obtaining approval of relevant bodies.
66,79 percent of shareholders attended today's assembly.
The assembly was originally slated for September 10 but was then postponed as quorum did not complete.