Maadaniyah shareholders to vote on board, audit reports on June 11

National Metal Manufacturing and Casting Co.’s (Maadaniyah) shareholders will vote on financial statements, as well as board and auditor reports for fiscal year ending Dec. 31, 2019, during the extraordinary general meeting (EGM) slated for June 11, the company said in a bourse statement on Thursday.

They will also appoint a new auditor for Q2, Q3, Q4, FY2020 and Q1 2021, in addition to vote on business contracts signed with The National Shipping Company of Saudi Arabia (Bahri) in 2019.

In addition, they will vote on dismissing the current board directors and electing a new board of directors for the coming board term ending May 24, 2023.

Shareholders will further vote on the formation of an audit committee for the 3-year term ending May 24, 2023, and determining its tasks and remuneration.

Shareholders will participate in the meeting through electronic voting as of June 7, 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.