Red Sea to vote on board, audit reports on April 22

Red Sea International Co.’s (Red Sea) shareholders will vote on audited financial statements, as well as audit and board reports for the fiscal year 2019, during the ordinary general meeting that will be held on April 22, according to a bourse filing on Wednesday.

Moreover, shareholders will vote on appointing an external auditor for FY 2020 and Q1 2021, in addition to a board remuneration of SAR 626,450 for FY2019.

They will also vote on businesses and contracts that were concluded between the company and Gulf General Cooperative Insurance Co., Saleh Mohammed Awad bin Laden and Petromin Corporation.

Shareholders will further vote on appointing Amr Abdullah Al Dabbagh and Taher Mohammed Amr as non-executive members, effective September and October 2019, respectively.

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