The 9th Ordinary General Assembly Meeting of Advanced was held on Tuesday 26/05/1436H corresponding 17/03/2015 at the Company's Headquarters in Dammam and chaired by H.E Khalifa Abdullatif Al-Mulhem (the Chairman of the Board of Directors), has approved all the items on agenda as follows:
1. The Board of Directors Report for the year ended 31/12/2014.
2. The Auditor's Report and the Company's Consolidated Financial Statements for the year ended 31/12/2014.
3. The recommendation of the Board of Directors to distribute cash dividends for the fourth quarter of 2014 of Saudi Riyals 0.75 per share totaling Saudi Riyals 123 million, which represent 7.5% of the share capital, for shareholders registered at the closing of trading on the day of Ordinary General Assembly Meeting on 17th March 2015. This brings the total dividend distribution for the year ended 31/12/2014 to Saudi Riyals 3.00 per share totaling Saudi Riyals 492 million.
4. The Board of Directors remuneration of SR 200,000 for each Member for the year ended 31/12/2014.
5. Release the members of the Board of Directors from liability for the year ended 31/12/2014.
6. The recommendation of the Board of Directors to appoint Ernst & Young as statutory auditors for the fiscal year 2015 based on the recommendation of the Audit Committee.
The dividend for Q4 2014 will be deposited in the shareholders accounts through Al-Rajhi Bank starting from Wednesday 1st April 2015.
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