Zain Saudi shareholders to vote on board, audit reports on June 3

Mobile Telecommunication Company Saudi Arabia’s (Zain Saudi) 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 3, it said in a bourse statement on Sunday.

Shareholders will discharge board members from liability for FY2019, appoint a new external auditor for Q2, Q3, Q4, FY2020 and Q1 2021, in addition to SAR 3.67 million remuneration for board and committee member for FY2019.

Meanwhile, they will also vote on various transactions and contracts concluded between the company and Almarai Company, Archiving and Warehousing Storage Solutions Company and Yamama Cement Co. in which chairman Prince Nayef bin Sultan bin Mohammed bin Saud Al Kabeer has an indirect interest.

Shareholders will participate in the meeting through electronic voting as of May 31, 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