Raydan Food shareholders refuse to absolve board of 2022 liability

21/06/2023 Argaam

Raydan Food shareholders refuse to absolve board of 2022 liability

A Raydan Food branch

Raydan Food Co.’s shareholders voted against discharging board members of liability for 2022, during the extraordinary general meeting (EGM) held on June 20. 

 

In a statement to Tadawul, the company pointed out that shareholders also disapproved paying SAR 1.9 million in remuneration to board members for 2022.

 

On the other hand, shareholders approved a number of transactions and contracts that were concluded with Aljonah Excellence Company for Sweets and Parties Ltd., in which former board member Meshaal Al-Salami has indirect interests.

 

The total value of approved transactions, including sales/rentals, purchases, payments and collections,  amounted to SAR 17.6 million in 2022, the statement added. 

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