Saudi Telecom Company has announced the results of its shareholder Ordinary General Assembly meeting which was held at the company’s head office in Riyadh. The Saudi operator also announced that it has elected nine new members to its board of directors.
After fulfilling the legal quorum, attendance percentage was (85.19%), the Ordinary General Assembly has voted on the following:
1. Approval of the Board of Directors report for the fiscal year ending 31/12/2017.
2. Approval of the External Auditors report for the fiscal year ending 31/12/2017.
3. Approval of the consolidated financial statements of the Company for the fiscal year ending 31/12/2017.
4. Approval of the appointment of the External Auditors (Ernst & Young & Co) as recommended by the Audit Committee from among the nominees to audit the company interim financial statement for Q2, Q3, Q4 and the annual audited financial statements for the year 2018, and Q1 for the year 2019, and the approval of their remuneration.
5. Approval to discharge of the members of the Board of Directors from liability for the year ended.
6. Election of the Board members from the candidates for membership of the Board of Directors for the new tenure, which will begin on 28/04/2018 until 28/04/2021, using a cumulative voting process, and their names as follows:
1. HRH. Prince Mohammed K. Al Faisal
2. H.E. Dr. Khaled H. Biyari
3. H.E. Mohammed Talal Al-Nahhas
4. Mr. Rashid Ibrahim Sharif
5. Mr. Sanjay Kapoor
6. Mr. Roy Chestnutt
7. Prof. Ibrahim A. Al Kadi
8. Mr. Osama Al-Khiary
9. Mr. Ahmed Mohammed Al-Omran
7. Approve the bonuses and compensation paid to board members against their membership and include it in the Board of Directors Report for the period from January 1, 2017 until December 31, 2017.
