Asharqiyah Development Co announces the results of its 9th Extraordinary General Meeting (3rd Meeting) held at 6:30 pm on Thursday 20/7/2017 at the Company Head Office located in Clock Tower in Dammam. The attendance rate (e-voting and actual) was 3.74% and the voting results were as follows

1) Approval of the Board of Directors annual report for the period ending 31/12/2016.
2) Approval of the external auditor report for the year ending 31/12/2016.
3) Approval of the financial statements and profit and loss account for the period ended 31/12/2016.
4) Approval of the selection of Crowe Horwath International (Al Azem & Al Sudairy CPAs) as the external auditors to review the quarterly and annual financial statements for the year 2017.
5) Approval of the discharge of the Board of Directors for the financial year ended 31/12/2016.
6) Approval of the election of the incoming Board of Directors for the new session for a period of three years starting from the date of the Assembly. The newly elected board constitutes of the following members:
1- Ziyad Ahmed Alrahmah 2- Mohammed Ahmed Alrahmah 3- Adel Ahmed
Alghamdi 4- Ahmed Nasser Alzarah 5- Khalid Abdul Hamid Al Shehab
7) Approval of the formation of the Audit Committee for the new session starting from the date of the Assembly for a period of three years and approval of its tasks and the compensation for the following candidates:
1- Khalid Abdul Hamid Al Shehab 2- Khalid Abdulaziz Alhoshan 3- Aziz
Mohammed Alqahtani 4- Adel Ahmed Alghamdi.
8) Approval of the approval of work covered by the Board of Directors after the expiration of its session on 16/4/2017 until the date of this Assembly.
9) Approval of the amendment of Articles of Association in line with the amended Saudi Corporate Law.
10) Approval of the amendment of Article (3) of the Articles of Association.
11) Approval of the amendment of Article (4) of the Articles of Association.
12) Approval of the amendment of Article (9) of the Articles of Association.
13) Approval of the amendment of Article (18) of the Articles of Association.
14) Approval of the amendment of Article (20) of the Articles of Association.