Riyadh — Mubasher: Tourism Enterprise Company (Shams) has issued an invitation to its shareholders to attend the Extraordinary General Assembly meeting (EGM) scheduled for 12 November 2026, according to a bourse filing.
The meeting will focus on a significant restructuring of the company’s internal governance framework and bylaws.
Shareholders will vote on amending 36 existing articles of the company’s bylaws and adding seven new articles.
Furthermore, key proposals include modifications to Article 12 and Article 14 regarding capital increases, and Article 13 concerning capital reductions.
The assembly will also address new regulations for the audit committee, the nomination and remuneration committee, and board membership standards.
The proposed remuneration policy sets annual compensation for the Chairman at SAR 150,000 and SAR 100,000 for board members.
Additionally, a monthly allowance of SAR 40,000 is proposed for the Chairman for specific duties.
Attendance fees are set at SAR 5,000 for board meetings and SAR 3,000 for committee sessions.
The meeting requires a legal quorum of shareholders representing at least 50% of the voting shares. Electronic voting is scheduled to begin on 8 November 2026 at 01:00.
