Maadaniyah shareholders approve board, audit reports for 2020

Shareholders of National Metal Manufacturing & Casting Co. (Maadaniyah) approved the board and audit reports, and financial statements for 2020, during the ordinary general meeting (OGM) held on June 24.

Shareholders also approved the payment of SAR 2.4 million in board remuneration for 2019 and 2020, and the disbursement of SAR 300,000 in audit committee remuneration for the same years.

During the meeting, board members were discharged of liability for 2020, and the audit committee regulations were amended.

Additionally, shareholders ratified appointing an external auditor to review financial statements for Q2, Q3, Q4, and 2021, and Q1 2022.