Al Sagr shareholders to vote on board, audit reports on June 1

Al Sagr Cooperative Insurance Co.’s shareholders will vote on financial statements, as well as board and auditor reports for fiscal year ending Dec. 31, 2019, during its ordinary general meeting (OGM) slated for June 1, it said in a bourse statement on Monday.

The shareholders will also vote on appointing a new external auditor for Q2, Q3, Q4, FY2020 and Q1 2021 financial statements.

In addition, they will vote on approving a board remuneration of SAR 2.17 million for FY2019 and electing a new board of directors for the upcoming 3-year term, starting June 16, 2020.

Shareholders will participate in the meeting through electronic voting as of May 28, in line with the Capital Market Authority's (CMA) circular issued, on March 16, enabling shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent spread of coronavirus.