Saudi British Bank (SABB) Announces the Results of its Ordinary General Meeting (first meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Saudi British Bank’s 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 - by means of modern technology (virtual meeting platform). |
| Date of the General Assembly's Meeting | 2022-12-21 Corresponding to 1444-05-27 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 76.9245 |
| 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. Mrs. Lubna Suliman AlOlayan (Chair) 2. Mr. Saad Abdulmohsen AlFadly (Vice-Chair) 3. Mr. Martin Edward Powell 4. Mr. Ahmed Farid AlAulaqi 5. Mr. Mohammed Omran AlOmran 6. Mr. Khalid Abdullah AlMulhem 7. Mr. Suliman Abdulrahman AlGwaiz 8. Mr. Tony William Cripps 9. Mr. Stephen Moss
While the following directors excused themselves from attending:
1. Mr. Samir Assaf 2. Mr. Stuart Gulliver |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1 .Mrs. Lubna Suliman AlOlayan (Executive Committee Chair)
2 .Mr. Ahmed Farid AlAulaqi (Nomination and Remuneration Committee Chair)
3. Mr. Martin Powell (Audit Committee Chair)
4. Mr. Suliman bin Abdulrahman AlGwaiz (on behalf of Board Risk Committee Chair) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1) Approve of electing the following members of the Board of Directors for the new period starting from 01/01/2023G until the end of the term on 31/12/2025G.
1- Ms. Lubna Suliman AlOlayan 2- Mr. Mohammed Omran AlOmran 3- Mr. Saad Abdulmohsen AlFadly (Representing the General Organization for Social Insurance GOSI) 4- Mr. Ahmed Farid AlAulaqi 5- Mr. Suliman Abdulrahman AlQwaiz 6- Mr. Martin Powell 7- Mr. Stuart Gulliver 8- Mr. Mohammed Rasheed AlMearaj
Accordingly, the new Board of Directors for the new term, which extends for three years starting from 01/01/2023G until the end of the term on 31/12/2025G, shall consist of the above-mentioned members, in addition to the following representatives appointed by the Banks foreign shareholder, HSBC Holdings B.V. in accordance with Article (17) of the Banks Bylaws, and they are:
- Mr. Tony William Cripps - Mr. Samir Assaf - Mr. Stephen Moss
2) Approve the formation of the Audit Committee, and the definition of its duties, work regulations and remuneration of its members for the new term, starting on 01/01/2023G until the end of the term on 31/12/2025G. and their names are:
- Mr. Martin Powell - Mr. Andrew Jackson - Mr. Abdullah Jaber Faifi - Dr. Ammr Khalid Kurdi
3) Approve delegating the Board of Directors for the new term that begins on 01/01/2023G the authority of the Ordinary General Assembly. This is in accordance with the authorization contained in paragraph (1) of Article (71) of the Companies Law, for a period of one year from the date of the approval by of the Ordinary General Assembly or until the end of the delegated Board of director’s term, whichever is earlier, and the conditions set forth in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.
4) Approve amending the Audit Committee Terms of Reference.
5) Approve amending the Nomination and Remuneration Committee Terms of Reference.
6) Approve amending the Selection Policy for Board and Board Committee Members. |
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