JAZADCO shareholders reject 2023 auditor report, board remuneration

Logo of Jazan Development and Investment Co. (JAZADCO)

Jazan Development and Investment Co. (JAZADCO) announced that its shareholders refused to approve the auditor’s report for the fiscal year ended Dec. 31, 2023.

 

At the ordinary general meeting (OGM), held on May 15, shareholders also rejected to disburse an amount of SAR 700,000 as remuneration to the board of directors for FY2023.

 

In addition, they did not approve the amendment to the corporate social responsibility policy and the adoption of the competition policies and standards.

 

Shareholders voted against delegating the powers of the OGM to the board of directors for one year from the shareholders’ approval date or until the end of the board term, whichever is earlier.

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