Almarai Company is pleased to announce to its Shareholders that its Board of Directors, which was elected during the Extraordinary General Assembly Meeting held on 3rd of April 2016 for a three year term that starts on 7 August 2016 and will end on 6 August 2019, issued a number of resolutions by circulation with regards to the organization of the Board Directors and Committees as follows:
1 - The resolution to appoint the Chairman of the Board and secretary of the Board as follows:
- HH Prince Sultan bin Mohammed bin Saud Alkabeer, Chairman of the Board;
- Dr. Abdulrahman bin Sulaiman Al Turaigi, Secretary of the Board.
2 - The resolution to set-up the Board committees as follows:
a - The Nomination and Remuneration Committee
- HH Prince Sultan bin Mohammed bin Saud Al Kabeer;
- Mr. Abdulrahman bin Abdulaziz al Muhanna;
- Engr. Mosa bin Omran Al Omran;
- Mr. Bader bin Abdullah Al Issa;
- Mr. Georges Schorderet.
b - The Executive Committee
- Mr. Abdulrahman bin Abdulaziz Al Muhanna (Chairman);
- HH Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer;
- HH Prince Saud bin Sultan bin Mohammed bin Saud Al Kabeer;
- Dr. Ibrahim bin Hassan Mohammed Al Madhoun;
- HE Engr. Abdullah bin Mohammed Noor Rihaimi;
- Engr. Musa bin Omran Al Omran;
- Mr. Christopher Ledwidge;
- Mr. Georges Schorderet.
3 - The resolution to appoint two representatives, one of whom a director and the other a senior executive, to act as its representatives before the Authority for all purposes relating to Market law as follows:
- Mr. Abdulrahman bin Abdulaziz Al Muhanna, Member of the Board of Directors;
- Mr. Georges Schorderet, Chief Executive Officer.
4 - The resolution to convene the General Assembly of the company in order to vote on the set-up of the Audit Committee upon the proposal of the Board of Directors as follows:
- Dr. Ibrahim bin Hassan Mohammed Al Madhoun, Independent Member;
- Dr. Abdulrahman bin Sulaiman Al Turaigi, Independent Member;
- Dr. Muhammad A. H. Ikhwan, from outside the Board of Directors;
- Mr. Sulaiman N. Alhatlan, from outside the Board of Directors and a specialist in financial and accounting affairs;-
- Mr. Farraj Abo Thenian, from outside the Board of Directors.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.