Al-Omran approves board's report, financials for 2019

Al-Omran Industries & Trading Co.'s shareholders approved financial statements, board's report, and auditor's report for fiscal year ending Dec. 31, 2019, during the ordinary general meeting (OGM) held on June 11, 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, shareholders formed a new audit committee and determined its authorities and remuneration for the next three-year term.

Shareholders approved business contracts signed with other entities in 2019.

Board membership policies as well as criteria, audit committee regulations, conflict of interest policy and the regulations of the nomination and remuneration committee were also approved.