Apr 03, 2017
The Board of Directors of Saudi Arabian Mining Company (Maaden) is pleased to announce that the 4th Extraordinary General Assembly Meeting was held at 19:30 on Sunday, 02-04-2017G corresponding to 05-07-1438H at the Company Headquarter in Riyadh.
After fulfilling the legal quorum, the Extraordinary General Assembly has voted on the following:
- 1. Approve the Consolidated Financial Statements for the year ended on 31/12/2016.
- 2. Approve the External Auditors report for the year ended 31/12/2016.
- 3. Approve the Board of Directors report for the year ended 31/12/2016.
- 4. Approve the Board of Directors recommendation not to distribute dividends for the year ended 31/12/2016.
- 5. The appointment of the External Auditors (Ernst & Young & Co.) as recommended by the Audit Committee from among the nominees to audit the Company financial statement for the year 2017, review the Company quarterly financial statements and the approval of their remuneration.
- 6. Approve the discharge of Board of Directors members from liabilities for their activities during the financial period ended 31/12/2015.
- 7. The appointment to replace the government representatives in Maaden Board, Mr. Mansour Bin Saleh Al-Maiman, Mr. Mohammed Bin Abdullah Al-Kharashi, Mr. Sultan Bin Jamal Shawli, and Engr. Khalid Bin Hamad Al-Sanani (non-executive Board members) with H.E. Eng. Khalid bin Abdulaziz Al-Faleh, Mr. Abdullah bin Mohammed Al-Issa, Ms. Lubna bint Suliman Al-Olayan, Eng. Abdullah bin Ibrahim Al-Saadan. Also the appointment of both: Eng. Azzam bin Yaser Shalabi, and Dr. Jean-Lou Chameau (independent members) as replacements for the resigned members Eng. Abdullah bin Saif Al Saif and Eng. AbdulAziz bin Abdullah Al-Sugair, per the Company previous announcement on Tadawul website.
- 8. Approve the composition of the Audit Committee for the current term ending 24/10/2017G with the nominees as follows: Eng. Abdullah bin Ibrahim Al-Saadan, Eng. Azzam bin Yaser Shalabi, Eng. Khalid bin Hamad Al Senani, Mr. Walid bin Ibrahim Shukri, and Mr. Mazen bin Abduallah Al Furaih.
- 9. Approve the amendment of the Company Articles of Association, in accordance with the new company law (attached)