Jabal Omar shareholders to vote on 2021 financials, board report on June 29

Jabal Omar Development Co.’s shareholders are set to vote on audited financial statements, as well as audit and board reports for 2021, during the extraordinary general meeting (EGM) slated for June 29.

In a bourse statement, the company said shareholders will vote on discharging board members from liabilities for 2021 and appoint an auditor to review financial statements from Q3 2022 until Q1 2025.

Shareholders will also discuss increasing audit committee members from three to four by appointing Alma Al-Moter, a non-board member, from the date of the assembly's approval until the end of the current committee term on June 29, 2024.

Meanwhile, they will vote on paying additional fees to the previous and current external auditors, PWC and EY, amounting to $6,500 and SAR 915,000, respectively, for work beyond the agreed scope of work.

Additionally, shareholders will discuss amending bylaws, including articles related to share subscription, trading in shares held by Awqaf and distribution of in-kind dividends.

Shareholders will participate and vote on the meeting agenda items through Tadawulaty system as of June 25.