SIDC shareholders to vote on 2020 board, audit reports on June 30

Shareholders of Saudi Industrial Development Co. (SIDC) will vote on the audited financial statements, as well as board and audit reports for 2020, during the ordinary general assembly meeting (OGM) to be held on June 30, 2021.

The company said in a bourse statement that shareholders will vote on discharging the board members from liabilities for 2020, in addition to appointing an external auditor to review Q2, Q3, 2021, and Q1 2022, and determine the fees.

Moreover, they will also endorse delegating the authority of the OGM to the board of directors with the license mentioned in Paragraph (1) of Article 71 of the Companies Bylaw, for a period of one year from the date of OGM approval or until the end of the term, whichever is earlier, in accordance with the conditions mentioned in the related regulations.