APICO approves appointment of Azhar Kenji as BOD member

Arabian Plastic Industrial Company (APICO) announced on Monday the results of the General Assembly Meeting which was held virtually by modern technology means, at 19:00, on Sunday 04-06-2023.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

– The Board of directors reports for the fiscal year ending on 31-12-2022 was reviewed and discussed.

-Approval of the company’s auditor’s report for the fiscal year ending on 31-12-2022.

– Reviewed and discussed the financial statements for the period ending on 31-12-2022.

– Approval of the decision of the Board of Directors to appoint Mr. Azhar Mido Mohieddin Kanji as an (independent) member of the Board of Directors, starting from the date of his appointment on 22-01-2023 to complete the session of the Board until the end date of the current session on 20-06-2026 to succeed the previous member, Mr. Hassan Omar Abu Bakr Balubaid Board Member (non-executive).

– Approval to absolve the members of the Board of Directors from liability for the fiscal year ending on 31-12-2022.

– Approval on the appointment of Dr. Mohamed Al-Amri & Co. as the external auditor of the company among the candidates based on the recommendation of the Audit Committee; to examine, review and audit the financial statements for the first half and annual of the fiscal year 2023 and determine their fees.

– Approval on disbursing an amount of 20,000 riyals as a reward for the members of the Board of Directors for the fiscal year ending on 31-12-2022.