Bank Albilad announces the results of the 11th Ordinary General Assembly (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors is pleased to announce the results of the 11th ordinary general assembly meeting (First Meeting) |
| City and Location of the General Assembly's Meeting | The assembly meeting was held by means of modern technology. |
| Date of the General Assembly's Meeting | 2020-04-26 Corresponding to 1441-09-03 |
| Time of the General Assembly's Meeting | 22:30 |
| Percentage of Attending Shareholders | 56.76% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1) Dr. Abdulrhman Ibrahim AlHumaid (Chairman of the Board)
2) Mr. Nasser Mohammed AlSubeaei (Vice Chairman of the Board) 3) Mr. Sameer Omar Baeisa 4) Mr. Fahad Abdullah Bindekhayel 5) Mr. Khalid Abdulaziz AlMukairin 6) Mr. Ahmed Abdulrahman Alhussan 7) Dr. Zeyad Othman Alhekail 8) Mr. Abdulaziz Mohammed AlOnaizan 9) Mr. Adeeb Mohammed Abanumai 10) Mr. Khalid Abdulrahman AlRajhi 11) Mr. Haytham Sulaiman AlSuhaimi |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1) Dr. Abdulrhman Ibrahim AlHumaid (Chairman of the Executive Committee)
2) Mr. Sameer Omar Baeisa (Chairman of the Nominations & Compensations Committee) 3) Mr. Ahmed Abdulrahman Alhussan (Chairman of the Risk Committee) 4) Dr. Zeyad Othman Alhekail (Chairman of the Compliance and Governance Committee) 5) Mr. Adeeb Mohammed Abanumai (Chairman of Audit Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1) Approval on the board of director’s report for the fiscal year ending on 31/12/2019.
2) Approval on the external auditors report for the fiscal year ending 31/12/2019.
3) Approval on the bank`s financial statements for the fiscal year ending on 31/12/2019.
4) Approval on the appointment of the bank’s auditors (KPMG & Partners /Price Waterhouse Coopers) among candidates based on the recommendation of the audit committee to review and audit the financial statements for the first quarter of the fiscal year 2020 and determine their fees.
5) Approval on the appointment of the bank’s auditors (KPMG & Partners /Ernest and Young & Partners) among candidates based on the recommendation of the audit committee to review and audit the financial statements for the (second, third, fourth and the full year) of financial statements for the fiscal year 2020 and for the first quarter of the fiscal year 2021, and determine their fees.
6) Approval on releasing the members of the Board of Directors from their liabilities for the fiscal year ending on 31/12/2019.
7) Approval on the Board’s decision regarding dividends distributed to shareholders for the first half of the fiscal year ending December 31, 2019, at (0.4) riyals per share and (4%) of the nominal value per share, and with a total amount of (300) million riyals Saudi.
8) Approval on the recommendation of the Board of Directors to distribute dividends to shareholders for the second half of 2019 at the rate of (0.5) riyals per share representing (5%) of the nominal value of the share, with a total amount of (375) million Saudi riyals, thus reaching Net dividends distributed to shareholders of the bank for the financial year ended December 31, 2019, to (675) million Saudi riyals, at (0.9) Saudi riyals per share representing (9%) of the nominal value of the share. Note that the dividend entitlement to the second half will be for the shareholders who own the bank’s shares at the end of the day of the general assembly meeting and who are registered in the bank’s shareholders register with the Securities Depository Centre at the end of the second trading day following the general assembly meeting . And dividends will be distributed to the registered shareholders starting from Monday 4/5/2020 by Securities Depository Centre Company (Edaa).
9) Approval on authorizing the Board of Directors to distribute interim dividends to the shareholders of the bank on a semi-annual or quarterly basis, if any, for the fiscal year 2020, and to specify the due and disbursement date in accordance law and regulations in implementation of the Companies’ law commensurate with the financial position of the bank and its cash flows and expansion and investment plans .
10) Approval on the disbursement of (3,520,000) Saudi riyals as a reward for the members of the Board of Directors at (320) thousand riyals for each member for the fiscal year ending on 31/12/2019.
11) Approval on amendments of the Audit Committee Charter.
12) Approval on amendments of the Nomination and Remuneration Committee charter.
13) Approval on rules and standards of competing with the Bank or any of its activities.
14) Approval on terms and conditions of delegating the board of directors with authorization powers of the general assembly to permit any member for direct and indirect interest.
15) Approval on the businesses and contracts that will take place between the bank and Mask Logistics, in which a member of the board of directors Mr. Nasser bin Muhammad Al-Subaie has direct interest in as a partner and deputy chairman of its board of directors, which is (renting an ATM site - in the city of Riyadh), at an amount of 60,000 SAR annually (contract period from 03/18/2018 to 17/17/2028), without preferential conditions.
16) Approval on the businesses and contracts that will take place between the bank and the Mohammed Bin Ibrahim Al-Subaie and his sons Company, in which a member of the Board of Directors Mr. Nasser bin Muhammad Al-Subaie has a direct interest in it as a partner and vice-chairman of its board of directors, which is (renting an ATM site - in Riyadh) , At an amount of 25,000 riyals annually (contract period from 01/12/2019 to 12/30/2029), without preferential conditions.
17) Approval on the businesses and contracts that will take place between the bank and Al-Arjan Homes Company, in which a member of the Board of Directors Mr. Nasser bin Muhammad Al-Subaie has direct interest in it as a member of its board of directors, which is (renting an ATM site - in the city of Jubail), at an amount of 90,000 riyals annually (The contract period is from 08/05/2018 to 04/04/2025), without preferential conditions.
18) Approval on the businesses and contracts that will take place between the bank and Al-Arjan Homes Company, in which a member of the Board of Directors Mr. Nasser bin Muhammad Al-Subaie has a direct interest in it as a member of its board of directors, which is (renting an ATM site - Yanbu city), at an amount of 80,000 riyals annually (The contract period is from 01/09/2018 to 31/08/2025), without preferential conditions.
19) Approval on the businesses and contracts that will take place between the bank and Al-Arjan Homes Company, in which a member of the Board of Directors Mr. Nasser bin Muhammad Al-Subaie has a direct interest in it as a member of its board of directors, which is (renting an ATM site - in Yanbu), at an amount of 80,000 riyals annually (The contract period is from 01/09/2018 to 31/08/2025), without preferential conditions. |
| Additional Information | We would like to advise all shareholders to update their bank account information with the financial broker to avoid any issue on receiving the announced dividends which will be distributed by Securities Depository Centre Company (Edaa).
Shareholders who have not received their dividends for previous periods, a dividends search tool has been added in the Banks website under the link:
https://www.bankalbilad.com/ar/about/investor-relations/Pages/unclaimed-dividends.aspx
In case of any shareholder finds his name in these lists, you are kindly requested to contact Investor Relations Department at:
Tel : 011 4798585
or through email: [email protected] |
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