Logo of Tourism Enterprise Co. (Shams)
Tourism Enterprise Co. (Shams) shareholders will convene an ordinary general assembly meeting on July 16, to vote on the dismissal of the current board of directors, based on a request submitted by some of its shareholders, who own shares representing 10.04% of the company’s capital. 
These shareholders are Saeed bin Saleh bin Abdulaziz Babiker, Lama International Investment Co., and Saleh Abdulaziz Babiker Sons Trading and Contracting Co.
According to a Tadawul statement, the justifications for the request are as follow: The company’s financial and operational results have fallen below shareholder expectations, accumulated losses led to a continued decline in shareholders’ equity, and failure to optimally utilize the company’s available resources to develop its core business and activities.
Shareholders will also vote on the election of new board members from among the candidates for the upcoming four-year term ending on July 16, 2030. This is subject to approval of the current board dismissal.
In March, Shams received a letter from shareholders, who hold 10.4% of the company’s capital, requesting a general assembly meeting to vote on the dismissal of the board of directors and its affiliated committees, according to Argaam’s data.
Logo of Tourism Enterprise Co. (Shams)
Tourism Enterprise Co. (Shams) shareholders will convene an ordinary general assembly meeting on July 16, to vote on the dismissal of the current board of directors, based on a request submitted by some of its shareholders, who own shares representing 10.04% of the company’s capital.
These shareholders are Saeed bin Saleh bin Abdulaziz Babiker, Lama International Investment Co., and Saleh Abdulaziz Babiker Sons Trading and Contracting Co.
According to a Tadawul statement, the justifications for the request are as follow: The company’s financial and operational results have fallen below shareholder expectations, accumulated losses led to a continued decline in shareholders’ equity, and failure to optimally utilize the company’s available resources to develop its core business and activities.
Shareholders will also vote on the election of new board members from among the candidates for the upcoming four-year term ending on July 16, 2030. This is subject to approval of the current board dismissal.
In March, Shams received a letter from shareholders, who hold 10.4% of the company’s capital, requesting a general assembly meeting to vote on the dismissal of the board of directors and its affiliated committees, according to Argaam’s data.
