Mobile Telecommunication Company Saudi Arabia (Zain KSA) Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Zain KSA is pleased to announce the results of the Ordinary General Assembly meeting that was held after realizing the required quorum. |
| City and Location of the General Assembly's Meeting | At the Company’s Headquarter in Riyadh (Via modern technology means through Tadawulaty platform) |
| Date of the General Assembly's Meeting | 2023-06-22 Corresponding to 1444-12-04 |
| Time of the General Assembly's Meeting | 18:45 |
| Percentage of Attending Shareholders | 63.56 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The Following Board Members attended the Meeting:
1. HH Prince Naif Bin Sultan Bin Mohammed Bin Saud Al Kabeer 2. Bader Al-Kharafi 3. Ossama Matta 4. Saud Al-Bawardi 5. Kamil Hilali 6. Abdullah AlFaris 7. Saad AlMoussa 8. Talal AlMamari
The Board Member Martial Caratti was absent on the Meeting |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Saud Al-Bawardi (On behalf of Chairman of the Audit Committee)
2- Saud Al-Bawardi (Chairman of Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Director’s report for the fiscal year ending on 31/12/2022 was Reviewed and discussed.
2. The financial statements for the fiscal year ending on 31/12/2022 was Reviewed and discussed.
3. Approved on the External Auditor’s report for the fiscal year ending on 31/12/2022 after discussing it.
4. Approved to discharge the Board of Directors against their work during the fiscal year ending 31/12/2022.
5. Approved the decision of the Board of Directors to appoint Mr. Talal AlMamari as a (non-executive) member of the Board of Directors, starting from the date of his appointment on 09/05/2023 to complete the term of the Board until the date of the end of the current session on 24/04/2025, to succeed the previous member, Mr. Firas Oggar (non-executive).
6. Approved the appointment and fees of Ernst & Young & Co. (Certified Public Accountants) (EY) as the External Auditor, amongst the list of nominees, to review and audit the company’s financial statements for the second, third and fourth quarter and annual financial statements of fiscal year 2023, in addition to the first quarter of fiscal year 2024.
7. Approved the delegating the Ordinary General Assembly’s authorization powers stipulated in paragraph (1) of Article (27) of the Companies Law to the Board of Directors for a period of one year effective from the date of approval of the Ordinary General Assembly or until the end of the term of the delegated Board, whichever is earlier, pursuant to the terms mentioned in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
8. Approved the Board of Directors’ recommendation to distribute cash dividends to shareholders for the fiscal year ending on 12/31/2022 amounting to (SAR 449,364,588 ) at (SAR 0.5) per share representing (5%) of the nominal value per share. The eligibility of Cash dividends will be to shareholders who own the company shares by the end of the trading day of the General Assembly of the company and registered in the Company's shareholders record at Securities Depository Center Company (Edaa) by the end of the second trading day following the eligibility date noting that the dividends distribution date will be on Wednesday 12/07/2023.
9. Approved the payment of SR 4,500,000 to board members as remuneration for the fiscal year ending 31/12/2022. |
| Additional Information | The Board of Directors of the Zain KSA would like to thank the shareholders for their participation in the Ordinary General Assembly meeting (first meeting).
In the event of any inquiries, we hope to contact our Investor Relations Department Email: [email protected] |
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