Riyadh – Mubasher: Arabian Pipes Company has postponed its extraordinary general meeting (EGM), which was scheduled to discuss a proposed capital increase, due to a lack of legal quorum.
The company reported that attendance for the sessions reached 23.24%, falling below the statutory requirement for the meeting to proceed.
The sessions were originally scheduled to take place on 27 July 2026, at 18:30, via modern technology means at the company's headquarters in Riyadh.
Despite the scheduling of a second meeting one hour after the first, the quorum remained insufficient to conduct official business or vote on the capital restructuring.
The company stated it will issue a subsequent invitation for a third extraordinary general meeting after coordinating with relevant authorities and securing the necessary approvals.
Under Saudi regulations, the third meeting will be considered valid regardless of the number of voting shares represented.
No immediate impact on the company's financial recommendations or auditor activities was reported following the postponement.
