Saudi Telecom Company (stc) announces the results of the Ordinary General Assembly meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Telecom Company-stc- (the Company) is delighted to announce to its esteemed shareholders the results of the Ordinary General Assembly meeting (First Meeting). |
| City and Location of the General Assembly's Meeting | The Assembly meeting was held remotely through modern technology. |
| Date of the General Assembly's Meeting | 2022-02-21 Corresponding to 1443-07-20 |
| Time of the General Assembly's Meeting | 19:30 |
| Percentage of Attending Shareholders | 81.14 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. HRH Prince Mohammed K. A. Al-Faisal (Chairman of the Board).
2. H.E. Dr. Khaled H. Biyari (Member) 3. H.E. Mr. Mohammed T. Alnahhas (Member) 4. Mr. Yazeed A. AL-Humied (Vice Chairman) 5. Ms. Rania M. Nashar (Member) 6. Mr. Jameel A. AlMulhem (Member) 7. Mr. Waleed I. Shukri (Member) Members of the Board of Directors Mr. Arndt Rautenberg, Mr. Sanjay Kapoor, Ms. Sarah J. AL-Suhaimi and Mr. Ahmed M. Alomran apologized for not being able to attend . |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. HRH Prince Mohammed K. A. Al-Faisal (Chairman of the Board, the Executive Committee, and the Investment Committee).
2. Mr. Jameel A. AlMulhem (Member of the Board and Chairman of the Nomination and Remuneration Committee). 3. Ms. Rania M. Nashar (Member of the Board and Chairperson of the Risk Committee). 4. Mr. Waleed I. Shukri (Member of the Board and Chairman of the Audit Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approve appointing the auditor Ernst & Young & Partners (EY) as auditor of the Company from the selected candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the (second and third) quarters and annual financial statements of the fiscal year 2022, and the first quarter of the fiscal year 2023. In addition to, the determination of the auditor's remuneration.
2. Approve amending the Audit Committee Charter. 3. Approve the business and contracts between stc and Wala’a Cooperative Insurance Co. (Walaa), in which Mr. Jameel A. Al-Mulhem, has an indirect interest being a Member of the Boards of Directors of stc and Walaa.. The disclosed indirect interest is regarding the agreement with Walaa, which includes signing a supplementary contract to provide stc with insurance coverage for six years starting 10-12-2021 for an amount of S.R. 19.3 million. The signed supplementary contract was part of the ordinary businesses that have offered no preferential advantages. |
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