Knowledge City shareholders approve board, audit reports for FY2019

Knowledge Economic City Co.’ shareholders approved audited financial statements and audit report for the fiscal year 2019, during the ordinary general assembly meeting held on May 14, 2020.

Shareholders also approved the board report for the same period, discharging board members from liabilities during FY2019, as well as the board of directors’ remuneration of SAR 2.200 million for 2019.

Meanwhile, they approved appointing Ernst & Young as an external auditor to audit financial statements for Q2, Q3, Q4, FY2020 and Q1 2021.

In addition, shareholders ratified appointing Walid Mohamed Ibrahim Al-Essa as non-executive board member, effective from April 29, 2019 until the end of the current term on July 27, 2021, replacing Turki bin Nawaf Al-Sudairi, former board member.