Al-Jouf Agricultural shareholders to start e-voting for general meeting on May 2

Al-Jouf Agricultural Development Co. will adopt electronic voting as of May 2 on the agenda items of its ordinary general meeting (OGM) to be held on May 6, according to a bourse filing on Thursday.

Shareholders are set to vote on a 5% cash dividend at SAR 0.50 a share for H2 2019, as well as delegating the board of directors to distribute dividend for FY 2020 on an annual or a semi-annual basis.

The general assembly will also vote on the board’s recommendation to stop setting aside 10% of net profit for statutory reserve as the account reached over 30% of capital.

In addition, shareholders will endorse on audited financial statements as well as audit and board reports for the fiscal year 2019.

They will further vote on discharging members of the board of directors from liabilities during FY 2019 and vote on appointing an external auditor to audit the company’s financial statements for Q2, Q3 and Q4 2020 as well as FY 2020 and Q1 2021.