Almarai Company announces the results of the Extraordinary General Assembly Meeting to increase the share capital
The Extraordinary General Assembly Meeting was held in Riyadh at the Holiday Inn Al Izdehar Hotel, Al Izdehar Hall number 3 on 3rd April 2016 at 7:00 p.m. after reaching the quorum, the shareholders approved all items on the agenda as follows:
1-Approve the Board Report for the fiscal year ending 31/12/2015.
2-Approve the Auditors report for the fiscal year ending 31/12/2015.
3-Approve the consolidated Financial Statements for the fiscal year ending 31/12/2015.
4-Approve the recommendation of the Board of Directors to pay a dividend, for the fiscal year ending 31/12/2015, of SR 1.15 per share totalling SR 690 million (This proposed cash dividend represents 11.5% of the capital share, based on 600 million shares), for shareholders registered at the date of the Extraordinary General Assembly Meeting on 3 April 2015, The dividend will be paid to the shareholders on 12 April 2016 by Saudi British Bank and any shareholder who did not receive his dividend on that day, can visit any Saudi British Bank branch and collect the dividend in form of cash or you can contact our Investor Relations team at this telephone number +966 11 4700005 (Ext.7233, 6280) or Email: investor.relations@almarai.com
5-Approve the recommendation of the Board of Directors to appoint KPMG as auditors of the company and to determine their fees for the fiscal year 2016 and the first quarter of the fiscal year 2017 based on the recommendation of the Audit and Risk Committee to the Board of Directors.
6-Approve the Board of Directors members from liability for the fiscal year ending 31/12/2015.
7-Approve the directors remuneration amounting in total to SAR 1,800,000 , and for which SAR 200,000 will be distributed to each director for the financial year ended 31/12/2015.
8-Elected of members of the Board of Directors of Almarai Company for a period of three years starting from date 07/08/2016 by cumulative voting, (As attached)
9-Approval all the business activities and contracts that create direct or indirect interest between Almarai Company and HH Prince Sultan bin Mohammed bin Saud Al Kabeer Chairman of the Board of Directors and to renew them for another year, (As attached)
10-Approval all the business activities and contracts between Almarai Company and Yamama Cement Company, (As attached)
11-Approval all the business activities and contracts between Almarai Company and Arabian Shield Insurance Co., (As attached)
12-Approval all the business activities and contracts between Almarai Company and Mobile Telecommunication Company Saudi Arabia (Zain), (As attached)
13-Approval the Lease Contract between Almarai Company and Mr. Abdulrahman bin Abdulaziz Al Muhanna, (As attached)
14-Approval all the business activities and contracts between Almarai Company and Al-Jazirah Press, Printing and Publishing, (As attached)
15-Approval all the business activities and contracts that have direct or indirect interest to Savola Group, (As attached)
16-Approval all the business activities and contracts between Almarai Company and Saudi British Bank, (As attached)
17-Approval all the business activities and contracts between Almarai Company and Banque Saudi Fransi, (As attached)
18-Approval the Board Member Mr. Abdulrahman bin Abdulaziz Al Muhanna to participate in the work of a competitor of the company, of being a member of the board of the Arab Company for Agricultural Services (Arasco) that engage in similar activity of the company in the poultry segment.
19-Approval the Board Member Dr. Ibrahim bin Hassan Mohammed Al Madhoun to participate in the work of a competitor of the company, of being a member of the board of the Herfy Food Services Co. that engage in similar activity of the company in the bakery segment.
20-Approve the increase in the share capital, (As attached)
21-Approve To amend Article (6) of the Companys By-law, (As attached)
Attached Documents
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