10.12.2012 - Saudi Savola Group EGM gives debt issuance the nod
Following the extraordinary general meeting held on 5 December, Savola Group reports that the EGM approved the proposed amendment to the company’s by-laws, giving it the green light to issue debt instruments. The company may now issue any type of tradable debt instruments such as bonds or Sukuk whether within or outside the Kingdom of Saudi Arabia in accordance with the applicable laws and regulations, and the General Assembly (GA) has the right, pursuant to a resolution issued by it, to delegate to the Board the authority to issue such debt instruments including bonds or Sukuk ..............................................Full Article: Source
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