Prince Alwaleed: “Kingdom Holding enters the year 2012 with strength & will continue its dividends distributions”
Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud held a Board meeting at 2:30pm and the Company’s Annual General Meeting (AGM) Extraordinary General Meeting (EGM) at 4pm on Tuesday, March 27th 2012 at the Four Seasons Hotel, Riyadh.
Prince Alwaleed: “Kingdom Holding enters the year 2012 with strength and will continue its dividends distributions.”
The AGM & EGM meeting were attended by the #KHC Board that is comprised of Eng. Talal Almaiman, Executive Director for Development and Domestic Investments and Member of the Investment Committee, Eng. Ahmed Halawani, Executive Director for Private Equity, International Investments and Member of the Investment Committee, Mr. Sarmad Zok, Executive Director of Hotel Investments and Member of the Investment Committee, Dr. Khaled Al-Saheem and Mr. Taher Agueel and Eng. Rasha Elhoshan. Moreover, Mr. Saleh Al Sagri’s proxy was provided to HRH, the Chairman of KHC.
The AGM meeting was also be attended by KHC and HRH’s Private Office members that included Mr. Shadi Sanbar and Member of the Investment Committee, KHC’s CFO Ms. Nada Al Sugair, Executive Director Finance and Administration, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department (CCD), Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman, Ms. Intisar Al-Yamani, Executive Manager, CCD, together with the representatives from the Ministry of Commerce and the Capital Market Authority (CMA).
The shareholders approved all the resolution presented at the AGM with the denoted votes as follows:
Approval of the Board of Directors’ report for the year ended 31/12/2012 with a 100% vote.
Approval of the Company’s financial statements for the year ended 31/12/2012 with a 100% vote.
Releasing the Board of Directors for their actions during the period from 01/01/2011 to 31/12/2011 with a 99.9% vote.
Approval of the Audit Committee’s proposal to select external auditors for the year 2012 with a 100% vote.
Approval of the Board’s recommendation to purchase “Kingdom Oasis” that is 3.8M sqm with a total cost of SR431 million, and is located next to “Kingdom Riyadh Land” Real Estate Project East of Riyadh and fully owned by HRH Prince Alwaleed Bin Talal with a 99.9% vote.
Approval of the Board of Directors for the distribution of quarterly dividends of 2011 with a total of 550.3 million Riyals with a 100% vote.
Approval to authorize the Board of Directors to distribute quarterly dividends with a 100% vote.
Approval of the Board of Directors’ decision on the appointment of Eng. Rasha El-Hoshan as a member of the Board of Directors who was chosen to replace Eng. Ammar A. Alkhudairy with a 100% vote.
Approval for the Board of Directors for the next meeting from 05/06/2012 for 3 years with a 100% vote, the following members:
HRH Prince Alwaleed
Eng. Talal Almaiman
Eng. Ahmed Halawani
Mr. Sarmad Zok
Mr. Taher Agueel
Mr. Saleh Al Sagri
Dr. Khaled Al-Saheem
Mr. Shadi Sanbar
Eng. Rasha Elhoshan
The shareholders approved all the resolutions presented at the #EGM with the denoted votes as follows:
Approval of the amendment of article (8) related to the company’s bond with a 100% vote.
Approval of the issuance of sukuk, or bonds, either in one part or several parts through the issuance of one or a series of versions under the programs that the company will initiate at those times and the amounts and conditions determined by the Board of Directors without the need to return to the AGM with a 100% vote.
Authorize the Board of Directors to take all necessary measures for the issuance of the Sukok or bonds and to obtain the necessary approvals from the concerned authorities, and the delegation of the Board of Directors to delegate any or all of the powers granted to the Board by the above to any person or other people and give them the right to authorize a third party with a 100% vote.
Approval of the amendment of article (34) related to the company’s force voting to correspond with the list of corporate governance issued by the Capital Market Authority (CMA) to amend as follows: "Each shareholder votes for each share represented at the AGM, the votes are collected at the AGM and EGM on the basis of the cumulative vote per share represented in the meeting." with a 100% vote.