ACIG shareholders to vote on board, audit reports on June 9

Allied Cooperative Insurance Group’s (ACIG) 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 9, it said in a bourse statement on Sunday.

They will also discharge board members from liability for FY2019, and appoint a new auditor for Q2, Q3, Q4, FY2020 and Q1 2021.

In addition, they will approve board remuneration of SAR 1.17 million for FY2019 and vote on business contracts signed with other entities in 2019, including Fuji Elevators and Escalators, Mayar Holding, Taya Real Estate Co., and Taya Feed Mil.

They will vote on appointing Adel Mohammed as a non-executive board member and Abdullah Abdulrahman Al Rebdi as an independent board member both as of March 17, 2020.

Shareholders will participate in the meeting through electronic voting as of June 5, 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.