Advanced’s shareholders appoint audit committee members, approve updated regulations

Advanced Petrochemical Co.’s (Advanced) ordinary general assembly on Dec. 28 has approved appointing Abdullah Abdul Rahman Bu Ali and Walid Mohammed Abdullah Al Jaafari as members of the audit committee, the firm said in a statement to Tadawul.

The new appointments came into effect immediately and will run until the end of the current term on Sept. 30, 2019, the statement said.

Shareholders also approved updated board membership policies, as well as updated regulations of the audit committee, and the nominations and remuneration committee.

It also approved the board, committees and executive management’s remunerations policies.