Al Ahsa Development shareholders approve board, audit reports

Al Ahsa Development Co.’s shareholders approved on Monday audited financial statements and audit report for fiscal year 2017, the company said in a bourse statement.

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

In addition, the general assembly approved all other items on the agenda including appointing an external auditor, updating the charters of board committees, and executive remuneration policies.

In a separate statement, Al Ahsa said that its shareholders approved amending an article of association in the company’s bylaws regarding board remuneration.