Saudi Steel Pipe shareholders approve board, audit reports for 2020

Saudi Steel Pipe Co.’s shareholders approved the board and audit reports, as well as consolidated financial statements for 2020, during the ordinary general meeting (OGM) held on May 5, 2021, according to a bourse filing.

Shareholders also approved appointing Maged Al-Dakheel as an independent board member and audit committee member, succeeding the former, Nader Ashoor, for the remaining period of the current term ending June 6, 2022.

They approved appointing Claudio Tocco as an audit committee member, succeeding the former, Carlos Ferreyra, for the remaining period of the current term.

In addition, shareholders endorsed the payment of SAR 1.338 million in remuneration to the board members for 2020.

They also approved appointing external auditor to examine, review and audit the financial statements for Q2, Q3, 2021 and Q1 2022, and discharged board members from liabilities for 2020.

Meanwhile, shareholders approved all other items on its agenda including related party transactions.