Lazurde shareholders to vote on board, audit reports on June 3

Lazurde Company for Jewelry’s (Lazurde) shareholders will vote on financial statements, as well as board and auditor reports for fiscal year ending Dec. 31, 2019, during its ordinary general meeting (OGM) slated for June 3, it said in a bourse statement on Thursday.

Shareholders will also discharge board members from liability for FY2019, and appoint a new external auditor for Q1, Q2, Q3, FY2020 and Q1 2021.

In addition, they will vote on approving the board’s recommendation of withholding dividends for FY 2019 as well as authorizing the board to distribute interim dividends for the FY 2020 on a semi-annual or quarterly basis.

They will discuss the consultancy services agreement signed between the company and board member Brian Norman Dickie, who has a direct interest.

Meanwhile, shareholders will vote on a board remuneration of SAR 1.49 million for FY2019 and appointing Khalifa Hassan Khalifa Al-Jalahma as a non-executive board member and Abdullah Abdulrahman Al Rebdi as an independent board member.

They will also vote on granting the board of directors the powers of the general meeting - as per the Companies Law - for one year from the general meeting date or until the end of the current board term, whichever comes first.

Shareholders will participate in the meeting through electronic voting as of May 31, in line with the Capital Market Authority's (CMA) circular issued, on March 16, enabling shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent spread of coronavirus.