TADCO approves FY 2018 board, audit reports

Tabuk Agricultural Development Co. (TADCO)’s shareholders have approved audited financial statements and audit report for the fiscal year 2018 during the general assembly meeting that will be held on June 20, the company said in a bourse statement.

Shareholders have also approved the board report for the fiscal year 2018. However, they disapproved board remuneration for the same period.

Meanwhile, they have approved the replacement of the potato processing project included in the capital hike proceeds in 2015 and approved the participation of 50 percent of capital shares in Afaq Food Company as an alternative.

They have also approved the replacement the integrated feed project, included in the capital hike proceeds in 2015 and approved the participation of 60 percent of capital shares in Masader Agricultural Feed Company.