AlSagr shareholders say ‘no’ fifteen times at AGM

AlSagr shareholders say ‘no’ fifteen times at AGM
Investors also refused to endorse a number of contracts involving firms with links to some of its existing and former board members. (Shutterstock)
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Updated 20 June 2021

AlSagr shareholders say ‘no’ fifteen times at AGM

AlSagr shareholders say ‘no’ fifteen times at AGM
  • Shareholders did not approve 15 of the 20 items for discussion – including the company’s 2020 financial results

RIYADH: Shareholders of Saudi Arabia's AlSagr Cooperative Insurance rejected 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.