Al-Etihad Cooperative Insurance Co.’s shareholders approved the board's recommendation on withholding dividend for FY ending on Dec. 31, 2019, during the ordinary general meeting held on June 24, 2020, the company said in a bourse filing.
They also approved financial statements, board's report, and auditor's report for fiscal year ending Dec. 31, 2019.
Shareholders discharged board members from liability for FY2019, and appointed a new auditor for FY2020 and Q1 2021.
During the meeting, shareholders approved the formation of an audit committee for the three-year term ending May 1, 2023 and determined its tasks and remuneration.
They endorsed business contracts signed with other entities in 2019, in addition to a board remuneration of SAR 1.4 million for FY2019.
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