Red Sea shareholders to review 2021 financials on June 23

Logo of Red Sea International Co.

Red Sea International Co.’s shareholders will vote on the board and auditor’s reports, as well as financial statements for 2021, during the ordinary general meeting (OGM) slated for June 23, according to a bourse statement.

They will also vote on appointing an external auditor to review Q2, Q3 and Q4 2022 as well as Q1 2023.

In addition, they will discuss paying SAR 1.38 million as remuneration for board members for 2021.

The agenda items also include the vote on delegating the OGM powers to the board as stipulated in Article 71 of the Companies Law, for a period of one year from the OGM approval date, or until the end of the board’s term, whichever is earlier, as per the terms stated in the Regulatory Rules and Procedures issued pursuant to the Companies Law related to listed joint stock companies.