Mar 04, 2018
The Board of Directors of Saudi Arabian Mining Company (Maaden) is pleased to announce that the 5th Extraordinary General Assembly Meeting was held at 20:30 on Thursday, 01-03-2018G corresponding to 13-06-1439H at the Company Headquarter in Riyadh.
After fulfilling the legal quorum attendance percentage was (66.03%), the Extraordinary General Assembly has voted on the following:
- 1. Approve the Consolidated Financial Statements for the year ended on 31/12/2017.
- 2. Approve the External Auditors report for the year ended 31/12/2017.
- 3. Approve the Board of Directors report for the year ended 31/12/2017.
- 4. Approve the Board of Directors recommendation not to distribute dividends for the year ended 31/12/2017.
- 5. The appointment of the External Auditors (Price Waterhouse Coopers PWC) as recommended by the Audit Committee from among the nominees to audit the Company interim financial statement for Q1,Q2,Q3 and the annual audited financial statements for the years 2018-2019-2020, 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 31/12/2017.
- 7. Approve the Amendment of Article (16) of the Articles of Association of the Company to become amended after the amendment (the board of directors shall be composed of ten members appointed by the Ordinary General Assembly for a period of three years, including the CEO of the company)