9 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Monday.

1) Fawaz Abdulaziz Alhokair Co. opened the nomination process for board of directors’ membership for the upcoming 3-year term, starting July 1, 2020.

2) Saudi Vitrified Clay Pipes Co. (SVCP) acquired a 75% stake of Advanced Piping Solutions for SAR 56.25 million.

3) Saudi Enaya Cooperative insurance Co. (Enaya) will face termination it fails to hold an extraordinary general assembly meeting by April 30 to vote on a 50% capital cut to offset accumulated losses.

4) SEDCO Capital, the fund manager for SEDCO Capital REIT Fund, successfully completed the negotiations with its strategic partner Al Rajhi Bank to reduce the annual financing fees.

5) Saudi Marketing Co.’s (Farm Superstores) shareholders will vote, on May 14, on withholding dividend for the fiscal year 2019.

6) Saudi Industrial Development Co. (SIDC) was unable to disclose financial statements for FY2019 on time due to the delayed auditing process.

7) Osool and Bakheet Investment Co., fund manager of Al-Maather REIT Fund, received requests from real estate tenants to either reduce, reschedule or suspend due rents during the COVID-19 measures period. These request amount to less than 5% of total annual rents.

8) Shareholders of National Petrochemical Co. (Petrochem) approved the board's recommendation on paying 5% cash dividend for FY2019, at SAR 0.50 per share, amounting to SAR 240 million.

9) Brent crude on Monday declined 20 cents to reach $27.88 per barrel. WTI Crude also decreased $2.97 to reach $15.30/bbl.