Arab Petroleum Pipelines Company (SUMED) announced that it has amended articles number 23 and 39 of its policy that accompanied its establishment law no (7) 1974, by adding two paragraphs for both articles, Al-Ahram reported.
As per article (23), the board of directors shall meet upon an invitation from the chairman of the board of directors or an invitation from at least half of the members, whenever the company’s interests require. Additionally, the Chairman will hold the meeting once every three months at least.
The meeting shall not be held in another place but the headquarters of the company or in Cairo unless circumstances demand other measures. It can be conducted via videoconference.
Meanwhile, article (39) stated that the general assembly meeting shall be composed of all shareholders and it shall not be held in any other place but the headquarters of the company or in Cairo, unless circumstances demand other measures. The general assembly can be conducted online too.
It is worth noting that these decisions came out during the irregular general assembly of SUMED.
SUMED Amends Two Articles of its Policy
Fatma Ahmed 1986 Posts
Fatma Ahmed is a staff writer with six years’ experience in Journalism. She is working in the field of oil and gas for four years. She also worked in the field of economic journalism for 2 years. Fatma has a Bachelor Degree in Mass Communication.
