Shareholders of Saudi Paper Manufacturing Co. (SPM) approved, on June 30, to file a liability suit against former board members, Hassan Asiri and Badr Al Selea.
The current board of directors was authorized to take the procedures necessary for the claim, SPM said in a statement to Tadawul.
Moreover, shareholders declined to approve the board report for the fiscal year 2019. The board of directors was not also discharged from liability for the same fiscal year, the company added.
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