Malath Cooperative to appoint board directors, audit committee in April

Malath Cooperative Insurance Co.’s shareholders on April 16 will elect new board members and a new audit committee for the coming three-year term starting as of April 16, 2018.

The board of directors’ report, an audit report and all financial statements for 2018 will be also endorsed during the meeting, the insurer said in a bourse filing.

Additionally, shareholders will discharge board members from liability associated with their activities in 2018, and select an external auditor for 2019 and Q1 2020.

Board bonuses at SAR 1.73 million for FY18 will be also approved during the meeting.