‎GASCO shareholders authorize board to pay interim dividend for 2023, refuse to appoint auditor

‎GASCO shareholders authorize board to pay interim dividend for 2023, refuse to appoint auditor

National Gas and Industrialization Co.’s (GASCO) shareholders authorized the board of directors to distribute interim dividends on semi-annual or quarterly basis for 2023, during the ordinary general assembly meeting (OGM) held on May 29.

Shareholders, however, disapproved appointing the company’s auditor from among the candidates based on the recommendation of the audit committee, to examine, review and audit the financial statements for Q2, Q3 and FY 2023, as well as Q1 2024, and determine fees, according to a statement on Tadawul.

Due to the failure to approve the appointment of the company's auditor due to the lack of quorum required for approval, a general assembly will be held to vote on this item, the statement added.