SIDC shareholders elect board members for new term

Logo of Saudi Industrial Development Co. (SIDC)

Shareholders of Saudi Industrial Development Co. (SIDC) elected board members for the upcoming three-year term starting June 1, 2025, during the ordinary general meeting (OGM) held on June 13.

The newly elected members are Ibrahim Al-Humaidi, Ahmed Al-Kanhal, Ahmed bin Abdullah Al-Mohsen, Bandar Al-Humaidi, Saled Al-Shuraim, AbduIlah Al-Asaker, Ali Al-Tharwi, Omar Al-Nasser, Nasser Al-Farhoud and Saeed Al-Zahrani, SIDC said in a statement to Tadawul.

For more news on listed companies

On the other hand, shareholders rejected to vote on paying SAR 150,000 in board remuneration for 2023, and on mandating the board with the powers of the general assembly for one year from the meeting date or until the end of the board term, whichever comes earlier.

SIDC added that 50.6% of the attendees abstained from voting on the previous agenda item.

The remaining agenda items were approved, the statement added.