Saudi Kayan shareholders to vote on board, audit reports on March 18

Saudi Kayan Petrochemical Co.’s (Saudi Kayan) shareholders will vote on audited financial statements, as well as audit and board reports for 2020, during the ordinary general meeting that will be held on March 18, the company said in bourse filing today, Feb. 25, 2021.

They will also vote on appointing an external auditor to audit Q2, Q3, Q4 and FY2021, in addition to Q1 2022.

Furthermore, they will vote on discharging board members from liabilities for 2020, and board remuneration of SAR 1.4 million for the last year.

Shareholders will also endorse the election of board members for the next three-year session, which starts on March 20, 2021, provided that among them there are four members appointed by Saudi Basic Industries Corp. (SABIC).

They will also vote on the formation of the audit committee, its role, responsibilities, and the remuneration for the next three-year session.

Shareholders will participate and vote on the meeting agenda items through Tadawulaty system as of March 14, as per the Capital Market Authority’s (CMA) circular issued on March 16, in line with the government’s efforts to prevent the spread of coronavirus.