Kingdom Holding Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Kingdom Holding Company is pleased to announce to the shareholders of Kingdom Holding Company the result of the Ordinary General Assembly Meeting (the first meeting), which was held on Monday 26-11-1445 AH corresponding to 03-06-2024 AD at 8:30 pm, through modern technology using Tadawulaty. |
| City and Location of the General Assembly's Meeting | Riyadh- via modern technology. |
| Date of the General Assembly's Meeting | 2024-06-03 Corresponding to 1445-11-26 |
| Time of the General Assembly’s Meeting | 20:30 |
| Percentage of Attending Shareholders | 96.82% |
| 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 Ordinary General Assembly Meeting:
1. HRH Prince AlWaleed Bin Talal Bin Abdulaziz AlSaud (Chairman of the Board)
2. Dr. Lama Abdulaziz AlSuliman (Vice Chairman, Member of Nomination and Remuneration Committee)
3. Eng. Talal Ibrahim AlMaiman (Board Member and CEO)
4. Abdulmajid Ahmed Al-Haqbani (Board Member)
5. Sarmad Zok (Board Member)
6. Adel Abdulaziz AlAbdulsalam (Board Member)
7. Hisham Sulaiman Alhabib (Board member, Chairman of Nomination and Remuneration Committee)
8. Reem Mohammed Assad (Board member, member of Audit Committee, and Member of Nomination and Remuneration Committee) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The meeting was attended by the chairmen of the following committees:
- HRH Prince AlWaleed Bin Talal Bin Abdulaziz AlSaud (Chairman of the Board)
- Dr. Khalid AlSouhaim (Chairman of Audit Committee)
- Hisham Sulaiman Alhabib (Chairman of Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- The Board of Directors Report for the fiscal year ending on 31/12/2023, was reviewed and discussed.
2- The Company’s financial statements for the fiscal year ending on 31/12/2023, were reviewed and discussed.
3- Approval of the external auditor report for the fiscal year ending on 31/12/2023, after discussion.
4- Approved to absolve the members of the Board of Directors from liability for the year ended 31 December 2023.
5- Approved on the transaction of purchase of Citi Group shares between Kingdom Holding Company and the company’s chairman, HRH Prince Alwaleed bin Talal bin Abdulaziz al Saud, at the value of SAR 1,685,868,750 (USD 449,565,000) without preferential terms.
6- Approval of the election of the Board of Directors members among the candidates for the next session which begins on 05/06/2024 G and its duration is three years ending on 04/06/2027 G, the following members were elected who obtained the highest votes from the nominees list:
1) HRH Prince AlWaleed Bin Talal Bin Abdulaziz AlSaud 2) Abdulmajid Ahmed Al-Haqbani 3) Dr. Lama Abdulaziz AlSuliman 4) Eng. Talal Ibrahim AlMaiman 5) Sarmad Zok 6) Adel Abdulaziz AlAbdulsalam 7) Hisham Sulaiman Alhabib 8) Reem Mohammed Assad 9) Tamim Bassam Mahmoud Jabr
7- Approved the appointment of PricewaterhouseCoopers Public Accountants from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third quarters and the annual financial statements for the fiscal year of 2024 and the first quarter of the fiscal year 2025, and the total fees 4,050,000 SAR excluding VAT.
8- Approved on the disbursement of an amount of six hundred thousand Saudi Riyal (SAR 600,000) being the remuneration of the Independent Directors of Board with an amount of two hundred thousand Saudi Riyal (SAR200,000) for each member. for the fiscal year ending on December 31, 2023 AD.
9- Approved on the Board of Directors’ recommendation dated on 16/09/1445 A.H corresponding to 26/03/2024 to distribute cash dividends from the retained earning amounting to (1,037.6) million riyals to shareholders during the year of 2024, amounting to SAR 0.28 per issued share for the whole year, representing 2.8% of the nominal value of the share, and the distribution will be made on a quarterly basis at the rate of 0.7% of the nominal value of the share, at the rate of 7 halalas per quarter for each issued share, for a total of SAR259.4 million per quarter. Eligibility and payments dates are as follows:
First payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 04/12/1445 A.H corresponding to 10/06/2024 and will be paid ten working days after the second trading day following the eligibility date.
Second payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 25/01/1446 A.H corresponding to 31/07/2024 and will be paid ten working days after the second trading day following the eligibility date.
Third Payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 28/03/1446 A.H corresponding to 01/10/2024 and will be paid ten working days after the second trading day following the eligibility date.
Fourth Payment: eligibility will be based on the records of registered shareholders according to company records at the end of trading on the day of 30/06/1446 A.H corresponding to 31/12/2024 and will be paid ten working days after the second trading day following the eligibility date.
10- Approved to authorize the Board of Directors to distribute interim cash dividends on a semi-annual or quarterly basis for the fiscal year 2024. |
| Additional Information | For any inquiries, please contact the Investor Relations Department, 011 2111111, Email: [email protected] |
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