Sadirat shareholders reject most items on OGM agenda

Logo of Saudi Industrial Export Co. (Sadirat)

Shareholders of Saudi Industrial Export Co. (Sadirat) disapproved most agenda items, during the ordinary general meeting (OGM) held on May 17, according to a statement to Tadawul.

They reviewed the board report and financial statements for 2022.

Meanwhile, they rejected the auditor’s report for the same year and the appointment of an auditor from among nominees, based on the audit committee’s recommendation to audit and review Sadirat’s financial statements for the second, third and fourth quarters of 2023, as well as the first quarter of 2024.

They also turned down the board’s decision on appointing Ghassan Al-Haidari as an audit committee member (independent board member) starting from July 21, 2022, until the end of the current term on June 15, 2025. Al Haidari was to replace the former member, Mohammed Al-Shuwaier (non-board member), provided the appointment will be effective from the board decision date.