Development Works Food shareholders expand audit committee seats, appoint 2 board members

Development Works Food Co.’s shareholders approved increasing the number of audit committee seats from three to four during the ordinary general meeting (OGM) held on June 16, according to a bourse filing. 

Shareholders gave the go-ahead for appointing Anas Alamoud as an independent audit committee member until the end of the current three-year term on Oct. 29, 2024.
 

They also approved the board and auditor’s reports and financial statements for 2021.  

In addition, shareholders discharged board members from liability for 2021 and appointed an auditor to review financial statements for Q1, Q2, Q3, Q4 2022, and Q1 2023.
 

They also ratified the disbursement of SAR 304,832 in board remuneration for last year.

Shareholders further appointed Abdullah Al-Fadli and Bashar Aba Al-Khail as independent board members until the end of the board term on Oct. 29, 2024.