Emaar EC approves board report, financials for FY19

Emaar The Economic City's (Emaar EC) shareholders approved financial statements, board's report, and auditor's report for fiscal year ending Dec. 31, 2019, the company said in a bourse statement.

Shareholders also discharged board members from liability for FY2019, and appointed a new auditor for FY2020 and Q1 2021.

During the meeting, a new audit committee was formed for the coming three-year term starting on April 27, 2020 and the policies of the nomination and remuneration committee were amended.

Board bonuses at SAR 4 million for FY2019 were also endorsed during the meeting.