SACO shareholders to elect new board of directors on May 20

Shareholders of Saudi Company for Hardware (SACO) will vote on electing a new board of directors for the next three-year term, starting July 20, 2020 in the general meeting scheduled for May 20.

The general meeting will also vote on the formation of the audit committee for the next three-year term, the home appliance retailer said in a bourse statement on Wednesday.

Shareholders of record at the Securities Depository Center Co. (Edaa) will be able to participate and vote on the agenda items through Tadawulaty services as of May 16.

On March 16, the Capital Market Authority (CMA) issued circular enabling shareholders to participate and vote on general meeting agenda items through Tadawulaty in line with the government’s efforts to prevent spread of coronavirus, Argaam earlier reported.