The Saudi British Bank (SABB) Announces the Results of its Ordinary General Meeting (first meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of SABB is pleased to announce the results of the Ordinary General Assembly’s Meeting (First Meeting) |
| City and Location of the General Assembly's Meeting | Head Office, Prince Abdulaziz Bin Musaid Bin Jalawi Street in Riyadh |
| Date of the General Assembly's Meeting | 2019-12-18 Corresponding to 1441-04-21 |
| Time of the General Assembly's Meeting | 19:30 |
| Percentage of Attending Shareholders | 80.59004 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following members of the board of directors attended the meeting:
1. Ms. Lubna Suliman Olayan (Chair)
2. Mr. Khalid Abdullah Al Molhem (Vice Chair and Chairman of Audit Committee)
3. Mr. Mohammed Omran Al Omran (Chairman of Nomination and Remuneration Committee)
4. Mr. Suliman Abdulqader Al Muhaideb
5. Mr. David Dew( Chairman of Executive Committee )
6. Mr. Stephen Moss
7. Ms. Maria Ramos
8. Mr. Martin Powell
While the following directors excused themselves from attending:
1. Mr. Samir Assaf
2. Mr. Ahmed Farid Al-Aulaqi
3. Mr. Saad Abdulmohsen Al Fadly (Chairman of Board Risk Committee) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Mr. Khalid Abdullah Al Molhem (Chairman of Audit Committee)
2. Mr. Mohammed Omran Al Omran (Chairman of Nomination and Remuneration Committee)
3. Mr. David Dew (Managing Director and Chairman of Executive Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approved electing the following members of the Board of Directors for the next three years starting from 01 Jan 2020 until 31 Dec 2022:
1- Ms. Lubna Suliman Al-Olayan
2- Mr. Khalid Abdullah Al Mulhem
3- Mr. Mohammed Omran Al Omran
4- Mr. Saad Abdulmohsen Al Fadly (Representing the General Organization for Social Insurance GOSI)
5- Mr. Ahmed Farid Al-Aulaqi
6- Ms. Maria Ramos
7- Mr. Martin Powell
8- Mr. Stuart Gulliver
Accordingly, the new Board of Directors for the new term, which extends for three years starting 01 Jan 2020 to 31 Dec 2022, shall consist of the above-mentioned members, in addition to the following representatives appointed by the Banks foreign partner, HSBC Holdings B.V. in accordance with Article (17) of the Banks Bylaws, and they are:
- Mr. David Dew - Mr. Samir Assaf - Mr. Stephen Moss
2- Disapprove the formation of the Audit Committee for the next three years starting from the date of 01 Jan 2020 until 31 Dec 2022, and specify its functions, controls and rewards of its members, as follows:
- Mr. Khalid Saleh AlSubayel - Mr. Omar Abdullah AlSabti - Mr. Waleed Ahmed Bamarouf
3- Approve the Board’s resolution to appoint Ms. Lubna Suliman Al-Olayan as the Banks Board of Directors (Non-Executive Member) as of 16-06-2019 until the end of the current Board term ending 31-12-2019, as per the merger agreement.
4- Approve the Board’s resolution to appoint Mr. Ahmed Farid Al-Aulaqi as the Board of Directors (Independent Member) as of 16-06-2019 until the end of the current Board term ending 31-12-2019, as per the merger agreement .
5- Approve the Board’s resolution to appoint Ms. Maria Ramos as the Board of Directors (Independent Member) as of 16-06-2019 until the end of the current Board term ending 31-12-2019, as per the merger agreement .
6- Approve the Board’s resolution to appoint Mr. Martin Powell as the Board of Directors (Independent Member) as of 15-07-2019 until the end of the current Board term ending 31-12-2019, as per the merger agreement . |
| Additional Information | The new Board of Directors will hold a meeting to elect the Chairman, Vice Chairman, and the Sub-Committees chairmen and members, and the approval of the supervisory authorities shall be obtained as per the guidelines governing the banking sector in Saudi Arabia, which will be announced in due course. |
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