Nadec elects board members for new term

12/04/2018 Argaam

 

National Agricultural Development Co.’s (NADEC) shareholders on Tuesday elected board members for the new three-year term that started April 11, 2018, the company said in a bourse statement.

 

The new members are Mazin Al Jubeir, Ibrahim Abu Abah, Raed Ismail, Alaa Al Hashim, Sulaiman Al Twaijri, Khalid Al Moamar and Sulaiman Al Sakran.

 

Shareholders also approved audited financial statements and audit report for the fiscal year ended Dec. 31, 2017, the company said in a bourse statement.

 

They also approved the board report for the same period and discharged board members from liabilities during FY 2017.

 

Meanwhile, the assembly appointed KPMG Al Fozan accounting firm as an external auditor to audit the interim and annual financial statements 2018.

 

Remuneration of SAR 1.05 million was approved for board members for the fiscal year 2017 at SAR 150,000 per member.

 

Related party contracts were also approved during the meeting.

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