Saudi Arabia is grappling with the formidable task of reinventing its economy, steering away from the dependence on oil that has long defined its financial landscape.
Saudi Aramco is scheduled to digitally hold its first general meeting of shareholders later in the day for voting on the board of directors report for year ended December 31, 2019.
Considering the ongoing pandemic crisis the world’s biggest oil company had issued notices to shareholders to attend the meeting via digital conference.
“Saudi Aramco encourages all its shareholders to register in Tadawulaty system in order to be able to attend and vote in the ordinary general assembly meeting,” the company said in the shareholder’s notice.
The shareholders meeting agenda includes voting on the board of directors report for the fiscal ending December 31, 2019.
The agenda includes voting on the external auditor of the company determining the fees based on the recommendations of the board, to review and audit the company’s financial statements.
Earlier in the day, the company slashed its domestic gasoline prices for May in the Kingdom. The gasoline 91 grade and 95 grade are now priced at 0.67 riyals (Rs 13.51) and 0.82 riyals (Rs 16.54) per litre, respectively.
These new rates will come into effect from today (Monday) onwards.