Latest news with #auditcommittee
Argaam
5 days ago
- Business
- Argaam
Americana board to approve H1 2025 financials on July 29
Americana Restaurants International PLC announced that its board of directors will adopt the company's consolidated financial statements for H1 2025 on July, following a recommendation from the audit committee, according to a Tadawul statement. The board's decision will be disclosed in due course. According to data available with Argaam, Americana reported a net profit of SAR 122.4 million in Q1 2025, a 17% increase from SAR 105.1 million a year earlier.
Argaam
03-07-2025
- Business
- Argaam
Riyadh Development reappoints bin Ayyaf as Chairman, Al-Muajjil Vice Chairman
Riyadh Development Co.'s (ARDCO) board of directors reappointed, on July 2, Prince Faisal bin Ayyaf as Chairman and Ibrahim Al-Muajjil as Vice Chairman, according to a Tadawul filing. The board also appointed the board secretary effective from July 2, 2025. During the meeting, board members formed the nominations and remuneration committee including Abdulrahman Al-Qahtani as Chairman, Osama Al-Awaidi and Fahd Al-Zahrani. They also named members of the executive committee consisting from Majed Alsubeaei (Chairman), Ibrahim Al-Muajjil and Nayef Al-Hadithi. Meanwhile, the board appointed the company's representatives before the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), and the Securities Depository Center (Edaa) for all purposes related to the implementation of the Capital Market Law and its Implementing Regulations. In a separate statement, the company said that the board formed the audit committee for its new term, which will start its work as of July 2, 2025, for a period of four years. The audit committee includes Suleiman Al Hatlan (Chairman), Yazid Al-Jard, Ahmed Al-Kanhal and Saleh Al-Khalaf.
Bloomberg
03-07-2025
- Business
- Bloomberg
Korea's Reform Drive Gets a Boost as Lawmakers Vote for Changes
South Korea's ambitious plan to improve corporate governance standards got a boost after the parliament voted to approve changes that will help protect the rights of minority shareholders. The revisions to the so-called commercial code include making board members legally accountable to all shareholders, instead of catering largely only to those with significant stakes — such as the founding families of the nation's many conglomerates. Another key change is to limit the voting rights of the largest shareholders and related parties to 3% when appointing the members of an audit committee.
Argaam
24-06-2025
- Business
- Argaam
GACO shareholders reject appointing external auditor, disbursing board remuneration
Al Gassim Investment Holding Co.'s (GACO) shareholders disapproved appointing an external auditor from among the candidates based on the audit committee's recommendation to examine, review and audit the financial statements for Q2, Q3 and FY 2025 as well as the Q1 2026 and determine their fees, according to a statement to Tadawul. In an ordinary general meeting (OGM) held on June 23, shareholders also refused to disburse the board of directors' remuneration of SAR 1.05 million for 2024. Meanwhile, they approved amending the audit committee work regulation but rejected the amendment of the remuneration and nomination committee work regulation as well as the remuneration policy for the board members, the board committees, and the executive management.
BBC News
16-06-2025
- Business
- BBC News
Warrington Council could have to pay £1,100 per day for advisers
Warrington Council could face a £363,000 bill if the government ultimately decides to send special advisers to the town following concerns about the way it is inspection was ordered by the previous Conservative government after criticism of the council's £1.8bn debts, which mostly relate to its commercial inspectors' report found Warrington was failing in five areas, including leadership, culture and use of council said advisers, known as ministerial envoys, could cost £1,100 a day plus expenses. In May, Warrington Council said it welcomed the idea of ministerial envoys being appointed."This is a supportive decision and will help us to deliver the changes needed," it a report written for a full council meeting later said there would be "significant costs" associated with implementing the recommended example, hiring a new executive director and an independent chair for the council's audit and governance committee would cost the local authority an estimated £196, inspection report said there was "resistance" in the council's response to external challenges and that the inspectors were not confident that town hall bosses had the "will and capacity" to make changes without external also found a lack of strategic direction, councillors being "highly respectful" of powerful officers, and a "defensiveness to internal and external scrutiny".If the government decides to send three envoys to the town for the proposed five-year period, they would mainly advise the council, which would remain in day-to-day though, the envoys could step in and take over "as a last resort". See more Cheshire stories from the BBC and follow BBC North West on X. For more local politics coverage, BBC Politics North West is on BBC One on Sunday at 10:00am and on BBC iPlayer.
