Arab Sea shareholders reject board discharge for 2025 fiscal year

Arab Sea Information Systems Co. shareholders voted against discharging board members from liability for the 2025 fiscal year during an ordinary general meeting held Sunday.

The resolution to absolve directors of responsibility for the period failed to pass, the company said in a filing to the Saudi stock exchange. A second proposal to set directors' remuneration for the same fiscal year was also rejected by shareholders.

No further details on the vote tallies or shareholder rationale were disclosed in the filing. The company did not indicate whether a follow-up meeting would be called to revisit either resolution.

Arab Sea Information Systems provides IT services and software solutions in Saudi Arabia.