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Wafrah approves impeachment of board, audit committee

Wafrah for Industry & Development Co. approved the impeachment of the board of directors and audit committee, as applied for by shareholders in possession of 7.14 percent of the total shares of the company, the firm said in a bourse filing today, Jan. 17.
The decision came during the company’s ordinary general assembly meeting (OGM) held virtually through the Tadawulaty system on Thursday, Jan. 14, 2021.
Additionally, the meeting elected the board of directors for three-year term starting Jan. 14, 2021. The members elected include Ayad Abdulrahman Mohammed Al-Bunyan, Mohammed Abdulrazaq Aboud Al-Baghdadi, Faisal Mohammed Abdulaziz Al-Khudairi, Mohammed Saud Abdalla Al-Samari, Faisal Abdalla Mohammed Al-Qahtani, Mohammed Yagoub Yossif Al-Mukhadab, and Mohammed Hindi Shujaa Al-Otaibi. ....

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10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Advanced Petrochemical Co.’s (Advanced) board of directors recommended a 6.5 percent cash dividend for the fourth quarter of 2020, at SR0.65 ($0.17) per share, amounting to SAR 140.7 million.
2) Al Yamamah Steel Industries Co. posted a net profit after Zakat and tax of SR50.7 million for the fiscal year ending on Sept. 30, 2020.
3) Samba Financial Group’s board of directors approved the resignation of Rania Mahmoud Nashar from the position of Group CEO, effective Jan. 31, 2021.
4) Saudi Industrial Investment Group’s (SIIG) board of directors recommended a 5 percent cash dividend for the second half of 2020, at SR0.5 per share. ....

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