TADCO shareholders disapprove amending board remuneration policies

Tabuk Agricultural Development Co.’s shareholders disapproved amending bylaws related to the remuneration of the board of directors and board committees, during the general assembly meeting held on June 17, 2020, the company said in a bourse statement.

Shareholders, however, approved audited financial statements and audit report for the fiscal year 2019.

They also approved the board report for the same period and discharged board members from liabilities during FY 2019.

In addition, they approved other items on the meeting’s agenda including appointing external auditor to audit the company’s financial statements for Q2, Q3, and Q4 2020, as well as FY2020 and Q1 2021.

Meanwhile, they approved appointing Mohammed bin Abdulaziz Al Shetwi and Tariq bin Abdulaziz Al Hamad as independent board members.