Red Sea elects board members, audit committee for upcoming term

Red Sea International Co.’s shareholders elected board members for the upcoming three-year term, starting May 10, 2021, during the extraordinary general meeting (EGM), held on May 2, 2021, the firm said in bourse filing.

Shareholders also approved the formation of an audit committee for the upcoming three-year term, and endorsed the payment of SAR 827,000 in board remuneration for 2020.

Additionally, they appointed Tareq Mohammed Telmesani as an executive member, for the current three-year term ending May 9, 2021.

Shareholders ratified the board and audit reports in addition to financial statements for 2020, and appointed external auditor to review financial statements for Q2, Q3, and Q4 2021, and Q1 2022.

During the meeting, shareholders approved amending articles of association pertaining to the company's head office.