Alhokair’s shareholders approve financial, audit reports for FY16/17

Fawaz Abdulaziz Alhokair Co.’s general assembly on Tuesday approved the financial statements and audit report for the fiscal year ended March 31, 2017, the company said in a statement on Tadawul.

Shareholders also approved the board report for the same period and discharged the board members from liabilities during the fiscal year 2016/2017.

The general assembly also voted on transferring retained earnings as of March 31, 2017, to the next fiscal year.

Accounting firm, KPMG, was appointed as external auditor for the period between April 1, 2017 and March 31, 2018.

Alhokair’s shareholders also approved a board recommendation to pay a bonus of SAR 200,000 for each board member and passed all related party transactions to take place during the upcoming fiscal year.