Enma Al Rawabi’s shareholders disapprove board’s proposal for 5% cash dividend for 2021

Logo of Enma Al Rawabi

Enma Al Rawabi’s shareholders disapproved the board’s recommendation to pay a cash dividend at 5% of capital for 2021, during the ordinary general meeting (OGM), held on June 5, according to a bourse filing.

Shareholders, however, approved the election of the board of directors for the term started June 5, 2022. The board comprised Fahad Almousa, Abdulaziz Almousa, Anas Almousa among others.

Shareholders also approved the formation of the audit committee for the same three-year term. The committee was chaired by Ibrahim Alswailem and included Anas Almousa and Abdullah Alrabeea as members. 

They further ratified the audit committee’s bylaws, the board and the auditor’s reports, and the financial statements for 2021.

They discharged board members from liability for last year and named an auditor to review financial statements for Q2, and 2022.

During the meeting, shareholders approved the engagement of the chairman and some board members in competitive business activities, the statement added.