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AlSagr shareholders shout ‘no’ 15 times to reject 15 of 20 items during AGM

By Hilal Mir
June 20, 2021 6:04 am
  • Appointment of Baker Tilly and Alkharashi & Co. as external auditors among proposals rejected
  • Investors also refused to endorse contracts involving firms with links to some board members

Not once, or twice, or even five times, AlSagr shareholders shouted no 15 times to reject three-quarters of the items tabled at its annual general meeting last week.

Shareholders did not approve 15 of the 20 items for discussion – including the company’s 2020 financial results, the insurer revealed in a Tadawul filing.

Among the other proposals rejected was the appointment of Baker Tilly and Alkharashi & Co. as external auditors to review the company’s financial results up to the first quarter of next year.

Investors also refused to endorse a number of contracts involving firms with links to some of its existing and former board members.

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