GACO shareholders reject auditor appointment, board remuneration payout

24/06/2025 Argaam
Logo ofAl Gassim Investment Holding Co. (GACO)

Logo of Al Gassim Investment Holding Co. (GACO)

Shareholders of Al Gassim Investment Holding Co. (GACO) rejected appointing an external auditor from the proposed candidates. A recommendation was earlier submitted to appoint an auditor to examine and audit the company’s financial statements for Q2, Q3, and FY 2025, as well as Q1 2026, according to a statement to Tadawul.

 

At an ordinary general meeting (OGM) held on June 23, shareholders also voted against disbursing SAR 1.05 million in remuneration to the board of directors for 2024.

 

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However, they approved an amendment to the audit committee’s work regulation. Proposals to amend the work regulation of the remuneration and nomination committee, along with the remuneration policy for board members, board committees, and executive management, were rejected.

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