Naseej EGM Called Off Over Quorum Shortfall

Naseej International Trading Co. said its extraordinary general meeting to vote on a proposed capital increase was not held because the required quorum was not met. The company announced the meeting had been scheduled for Sunday but did not proceed after insufficient shareholder attendance. Naseej did not immediately set a new date for the vote. The capital increase, if approved, would expand the company's equity base, though management has not disclosed further details on the planned use of proceeds. Shareholders will need to be reconvened for a fresh meeting; under Saudi corporate law, a second call typically requires a lower quorum threshold.