Emaar The Economic City's (Emaar EC) shareholders approved financial statements, board's report, and auditor's report for fiscal year ending Dec. 31, 2019, the company said in a bourse statement.
Shareholders also discharged board members from liability for FY2019, and appointed a new auditor for FY2020 and Q1 2021.
During the meeting, a new audit committee was formed for the coming three-year term starting on April 27, 2020 and the policies of the nomination and remuneration committee were amended.
Board bonuses at SAR 4 million for FY2019 were also endorsed during the meeting.
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