Zain Saudi’s shareholders approve 2017 annual report, deals with Almarai

Mobile Telecommunications Company Saudi Arabia’s (Zain Saudi) ordinary’s general assembly approved on Monday the board of directors’ report and the auditor’s report for fiscal year 2017, the firm said in a statement to Tadawul.

Shareholders also approved the financial statement for the year.

They approved appointing Grand Thornton (Aldar Audit) as the external auditor for Q2-Q4 and annual results of 2018, as well as Q1 2019.

The general assembly also approved the service contract signed with Almarai Co. and renewed it for another year, as Chairman Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer is also a board member at Almarai. Last year’s deal amounted to SAR 973,260.

Shareholders discharged board members from liabilities for the fiscal year 2017, and approved a total remuneration of SAR 3.7 million for the board of directors and its committees for last year.