Mobile Telecommunication Company Saudi Arabia (Zain) Announces the Results of the Ordinary General Assembly Meeting (First Meeting)

Sunday 7 June 2020
ELEMENT LIST EXPLANATION
Introduction The Board of Directors of Mobile Telecommunications Company Saudi Arabia (Zain) is pleased to announce the results of the Ordinary General Assembly meeting that was held after realizing the required quorum.
City and Location of the General Assembly's Meeting The General Assembly was hosted in the Company’s headquarters in Riyadh city, and shareholders attended via modern technology means in line with the precautionary measures initiated by the relevant authorities to limit the spread of the emerging Coronavirus (COVID-19).
Date of the General Assembly's Meeting 2020-06-03 Corresponding to 1441-10-11
Time of the General Assembly's Meeting 20:30:00
Percentage of Attending Shareholders 54.57
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees

The following members of the Board of Directors attended the meeting:
1- HH Prince Naif Bin Sultan Bin Mohammed Bin Saud Al Kabeer
2- Bader Bin Nasser Al-Kharafi
3- Raied Bin Ali Al Saif
4- Scott Marc Gegenheimer
5- Saud Al-Bawardi
6- Ossama Michael Matta
7- Hisham Attar
8- Martial Caratti
9- Firas Oggar

 
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf

1- Raied Bin Ali Al Saif (Chairman of Audit Committee)
2- Scott Marc Gegenheimer (Chairman of Nomination and Remuneration Committee)

 
Voting Results on the Items of the General Assembly's Meeting Agenda's

1. Approved the Board of Directors’ report for the fiscal year ending on 31 December 2019.
2. Approved the External Auditor’s report for the fiscal year ending on 31 December 2019.
3. Approved the financial statements for the fiscal year ending on 31 December 2019.
4. Approved the appointment and fees of Dr. Mohamed Al-Amri & Co.(BDO) as the External Auditor, amongst the list of nominees, to review and audit the company’s financial statements for the second, third and fourth quarters and annual financial statements of fiscal year 2020, in addition to the first quarter of fiscal year 2021.
5. Approved the transactions and contracts concluded between the Company and Almarai Company in which the Chairman: Prince Nayef bin Sultan bin Mohammed bin Saud Alkabeer has indirect interest, and approved it for the following year. The transaction represents telecommunication services contract based on common commercial terms, and without any preferable conditions, with a total amount of SR 2,886,332 during the fiscal year 2019.
6. Approved the transactions and contracts concluded between Zain KSA and Archiving and Warehousing Storage Solutions Company where the Chairman Prince: Naif bin Sultan bin Mohammed bin Saud Al Kabeer has an indirect interest. For the provision of archiving and storing services for annual amount of SAR 916,793. The contract terminated on 30 June 2019
7. Approved the transactions and contracts concluded between the Company and Arabian Shield for Cooperative Insurance in which the Chairman: Prince Nayef bin Sultan bin Mohammed bin Saud Alkabeer and Board Member Mr. Raed Ali Alseif have indirect interest, and approved it for the following year. The transaction represents services contract based on common commercial terms, and without any preferable conditions, with a total amount of SR 531,981 during the fiscal year 2019.
8. Approved the transactions and contracts concluded between the Company and Al Yamamah Cement Company in which the Chairman: Prince Nayef bin Sultan bin Mohammed bin Saud Alkabeer has indirect interest, and approved it for the following year. The transaction represents telecommunication services contract based on common commercial terms, and without any preferable conditions, with a total amount of SR 539,423 during the fiscal year 2019.
9. Approved discharging the Board of Directors against their work during the fiscal year ending 31 December 2019.
10. Approved the payment of total SR 3,675,000 to board and committees’ members collectively as remuneration for the fiscal year ending 31 December 2019.

 

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