‎Malath Insurance shareholders refuse to discharge board member for 2022

‎Malath Insurance shareholders refuse to discharge board member for 2022

Malath Cooperative Insurance Co.’s shareholders voted against discharging board members of liability for the fiscal year (FY) ended Dec. 31, 2022, during an ordinary general meeting (OGM) held on May 1.

In a statement to Tadawul, the company pointed out that shareholders also disapproved of paying SAR 2.87 million in remuneration to board members for 2022.

Proposals to amend the work regulations of the remuneration and nomination committee as well as the remuneration policy for the board, committees and executive management were also rejected.

The OMG, moreover, witnessed the shareholders’ disapproval of the external auditors’ report for 2022, the statement added.