GACO shareholders refuse to discharge board members from liability for 2020

Al Gassim Investment Holding

Al Gassim Investment Holding Co.'s (GACO) shareholders refused to discharge the board members from liabilities for 2020, during the ordinary general meeting (OGM) held on June 27.

The company said in a bourse statement that shareholders also disapproved amendments to the audit committee as well as remuneration and nomination committee’s work regulations.

They refused to endorse the remuneration policy for members of the board of directors, committees emanating therefrom, and the executive management.

Meanwhile, they approved the board and auditor reports, as well as financial statements for 2020.

Shareholders also gave the go-ahead for appointing Al Bassam & Partners Company PKF as external auditor to review Q2, Q3, and 2021, and Q1 2022 financial statements, as well as determining their fees.