Saudi Arabian Amiantit Co. announces the results of shareholder Extraordinary general assembly meeting
Saudi Arabian Amiantit announces that the Company’s General Assembly result’s meeting, which was held in the Head office, First Industrial Area, in Dammam on 23-5-2017 (27-8-1438H) at 18:30, whereas the First meeting quorum has not been achieved, the Second meeting quorum has achieved at 25.89%. The followings are the results:-
First Approve the Board of Directors Report for the financial year ending 31-12-2016.
Second Approve the consolidated Financial Statements for the Financial Year ending 31-12-2016.
Third Approve the External Auditor’s Report for the Financial Year ending 31-12-2016.
Fourth Approve discharging the Board of Directors from the responsibilities for the year ending 31-12-2016.
Fifth Approve the proposal of the Board of Directors related to the Company’s External Auditor from those auditors nominated by the Audit Committee for the year 2017 & Quarterly Financial Statements and fixing its fees. The appointed Auditors are Baker Tilly.
Sixth Approve the forming of Audit Committee & fix its policy for the period starting from the date of General Assembly meeting and ending 31-12-2017. The appointees are:-
1. Dr. Khalil Kordi – Chairman
2. Mr. Sulaiman Al-Amro – Member
3. Dr. Sulaiman Al-Sakran – Member
Seventh Approve the amendment of the Company’s By-Law to adopt the new Companies’ Law
Eighth Approve the amendment of the Article (3) Purpose of the Company
Ninth Approve the amendment of the Article (16): The management of the company
Tenth Approve the amendment of the Article (19): The Powers of the Board of Directors
Eleventh Approve the amendment of the Article (20): The remuneration of Board of Directors
Twelfth Approve the amendment of the Article (21): The powers of the Chairman, CEO and Managing Director, and the Secretary of the Board
Thirteenth Approve the amendment of the Article (22): Meeting of the Board
Fourteenth Approve the amendment of the Article (30): The quorum of the ordinary general assembly meeting
Fifteenth Approve the amendment of the Article (31): Quorum of Extra- Ordinary general assembly meeting