The Savola Group, a leading conglomerate in Saudi Arabia, recently held an extraordinary general meeting (EGM) which approved issuance of sukuk with total value not exceeding the company’s paid-up capital.
The EGM also voted to delegate to the Board the authority to issue such tradable debt instruments without reverting to the General Assembly (GA), said Dr Abdulraouf M Mannaa, managing director of the company………………………………………..Full Article: Source