AlHammadi Company for Development and Investment announces the results of its shareholders Ordinary General Assembly Meeting which was held at 19:00 p.m. on Sunday 22-8-1437H corresponding to 29-5-2016G at Tadawul Media Center Riyadh after the completion of the official quorum where the voting results on the meeting agenda items were as the following:
1- Approval on the Board of Director report for the financial year ended 31-12-2015G
2- Approval on the external auditor report for the financial year ended 31-12-2015G
3- Approval on the audited financial statements for the financial year ended 31-12-2015G
4- Approval on discharging the Board of Director members from liability for the financial year ended 31-12-2015G
5- Selecting PriceWaterhouseCoopers(pwc) As external auditor for the Company from the nominated candidates by the Audit Committee- and determine its fees to review and audit the interim and year-end financial statements of the financial year 2016 and Q1 2017.
6- Approval on the Board of Directors recommendation to distribute SR 0.75 per share dividends on the financial year 2015G. The total dividends amount is SR 90 million represents 7.5% of the shares par value. The dividends will be the right of the shareholders registered at Tadawul by the end of the ordinary general assembly meeting day. The Company will announce later the distribution methods and date.
7- Approval on disbursing the Board of Director remunerations amounting to SR 1,800,000 (Saudi Riyals one million eight hundred thousand only) which represents SR 200,000 (Saudi Riyals two hundred thousand) for each member.
8- Electing the Board of Director members from the candidates in the new Board of Director term which will start on 22-6-2016G for three years they are as follows:
1. Mr. Saleh Mohammad Alhammadi
2. Dr. Abdulaziz Mohammad Alhammadi
3. Mr. Mohammad Saleh Alhammadi
4. Dr. Abdulaziz Saleh Alhammadi
5. Dr. Sami Abdullah AlSaeed
6. Mr. Abdulaziz Saleh Rabdi
7. Mr. Abdulaziz Abdulrahman Alferyan
8. Mr. Saad Abdullah Alsaif
9. Mr. Karim Hadar Madi
9- Approval on the on the following transactions with the related parties and renew the approval to deal with them (transactions duration is one financial year and should be renewed by the General Assembly):
1. Member name: Mr. Mohammad Saleh AlHammadi
Company name: Mohammad Saleh AlHammadi Establishment for IT
Transaction Nature: Computers provider
Transactions size: SR 278,188
2. Member name: Dr. Abdulaziz Mohammad AlHammadi
Company name: Aktel Company
Transaction Nature: Catering
Transactions size: SR 3,532,094
3. Member name: Mr. Mohammad Saleh AlHammadi and Dr. Abdulaziz Mohammad AlHammadi
Company name: The union of AlHammadi Construction and Riyadh Development Company
Transaction Nature: Construction work for AlHammadi Hospital AlNuzha and AlSweidi
Transactions size: SR 187,201,816
10- Approval on the following related parties transactions which will take place during the next year (Contract duration is one financial year and should be renewed by the General Assembly):
1. Members name: Mr. Saleh AlHammadi and Dr. Abdulaziz Mohammad AlHammadi
Contract nature: Housing building lease (Individual contract)
Contract duration: 01-06-2016 to 31-05-2017
Contract value: SR 855,000
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