Arriyadh Development shareholders approve amendment to audit committee regulations

Arriyadh Development Co.'s (ARDCO) shareholders approved amending the work regulations of the audit committee and the remuneration and nominations committee, during the ordinary general assembly meeting (OGM) held on Sept. 15, according to a bourse statement.

Shareholders also approved the remuneration policy of the board of directors, its sub-committees, and the executive management.

They also ratified the criteria and controls for the board members’ competition for the company’s business or any of its branches.

Shareholders also approved the appointment of Suleiman bin Nasser Al-Hattlan (an independent member from outside the board) as a member of the audit committee, starting May 5, 2021 until the end of the current term on June 24, 2022.