Zain group postponed its extraordinary general assembly that was due on Wednesday to September 22, since the quorum was not completed.
Only 66.733 percent of shareholders attended, short of the required quorum of 75 percent, the mobile and data provider said in a statement, noting that the agenda of the extraordinary meeting comprises two items.
The first item is related to approving the modification of the company’s basic system to cope with new laws, and decisions taken by the Board of Commissioners of Kuwait Capital Markets Authority (CMA) on issuing corporate governance rules, it added.
The other item on the agenda is on issuing bonds and sukuks (Islamic bonds) by a value that does not exceed the ceiling legally permitted.
Source : KUNA Kuwait News agency
