Red Sea International approves board report, financials for FY19

Red Sea International Co.'s shareholders approved the board's as well as auditor's reports and financial statements for FY ending Dec. 31, 2019 during the ordinary general meeting held on April 22, 2020, the company said in a bourse statement.

Shareholders also approved board bonuses at SAR 626,450, and appointed four new board directors for the board term ending on May 21, 2021.

During the meeting, shareholders discharged board members from liability for FY19 and endorsed business contracts inked with other entities during the same year.

An external auditor was also appointed during the meeting for Q2,Q3 and Q4 2020 and Q1 2021.