Saudi German Hospital to vote on withholding FY2019 dividend on June 29

Shareholders of Middle East Healthcare Co. (MEAHCO), the owner and operator of the Saudi German Hospitals (SGH), are set to vote on withholding dividend for the fiscal year 2019, during the general assembly meeting that will be held on June 29, 2020. 

The company said in bourse filing on Monday that shareholders will also vote on audited financial statements, as well as audit and board reports for the fiscal year 2019. 

Furthermore, they will vote on appointing an external auditor to audit Q2, Q3, Q4 and FY2020, in addition to Q1 2021.

They will vote on discharging board members from liabilities for FY2019, and board remuneration of SAR 1.400 million for the last year (SAR 200,000 for every board member).

They will also vote on granting the board of directors the powers of the general meeting - as per the Companies Law - for one year from the general meeting date or until the end of the current board term, whichever comes first.

Additionally, shareholders will vote on appointing Amr Mohamed Khashoggi as independent member in the board of directors and audit committee, replacing Saleh Ahmed Ali Hefni.

They will also endorse several business contracts signed in 2019.

Shareholders will participate and vote on the meeting agenda items through Tadawulaty system as of June 25, 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.