12 March 2012
At the invitation of the Board of Directors of Etihad Etisalat Company (Mobily), the Ordinary General Meeting of shareholders was held on Sunday dated 11 March, 2012 in the Paris Hall of the Four Seasons Hotel in Riyadh at 6:00pm.
According to the voting on the meeting agenda items, the General Assembly issued the following decisions:
1.Approved the financial statements and the Auditors' report for the financial year ended December 31, 2011.
2.Approved the Board of Directors Report for the financial year ended December 31, 2011.
3.Discharged the members of the Board of Directors for the financial year ended December 31, 2011.
4.Approved the appointment of Deloitte & Touche (Bakr Abulkhair & Co) from among the candidates of the Audit Committee to review the Company financial statements for the financial year 2012 and its quarterly financial statements and determined the Auditors' fees.
5.Approved the recommendation of the Board of Directors to distribute a cash dividend of SAR 1,400 million for the second half of 2011 (SAR 2.00 per share), in addition to the already distributed initial dividend of SAR 875 million for the first half of 2011 (SAR 1.25 per share). Shareholders entitled to receive the dividend are those registered in the Company Shareholders Register as at the end of the trading day on which the Ordinary General Meeting is held. Thus, the total dividends for the financial year 2011 becomes SAR 2,275 million (SAR 3.25 per share), representing 44.75% of the Company's net profits in 2011. Dividends will be paid as of 1/4/2012 through direct transfer to the bank accounts linked to the investment portfolios of the shareholders.
6.Authorized the Board of Directors to distribute quarterly dividends as of the financial year 2012 and to take the related necessary actions.
7.Authorized the engagement of the United Electronics Co. (eXtra) as a distributor for Etihad Etisalat Company (Mobily).
8.Approved the appointment of Eng. Abdulrahman Alfehaid as a member of the Board of Directors replacing Dr. Fahad Almubarak, as of 20 December, 2011 for the remaining period of the current office of the Board, which will end on 30 November, 2012.
At the invitation of the Board of Directors of Etihad Etisalat Company (Mobily), the Ordinary General Meeting of shareholders was held on Sunday dated 11 March, 2012 in the Paris Hall of the Four Seasons Hotel in Riyadh at 6:00pm.
According to the voting on the meeting agenda items, the General Assembly issued the following decisions:
1.Approved the financial statements and the Auditors' report for the financial year ended December 31, 2011.
2.Approved the Board of Directors Report for the financial year ended December 31, 2011.
3.Discharged the members of the Board of Directors for the financial year ended December 31, 2011.
4.Approved the appointment of Deloitte & Touche (Bakr Abulkhair & Co) from among the candidates of the Audit Committee to review the Company financial statements for the financial year 2012 and its quarterly financial statements and determined the Auditors' fees.
5.Approved the recommendation of the Board of Directors to distribute a cash dividend of SAR 1,400 million for the second half of 2011 (SAR 2.00 per share), in addition to the already distributed initial dividend of SAR 875 million for the first half of 2011 (SAR 1.25 per share). Shareholders entitled to receive the dividend are those registered in the Company Shareholders Register as at the end of the trading day on which the Ordinary General Meeting is held. Thus, the total dividends for the financial year 2011 becomes SAR 2,275 million (SAR 3.25 per share), representing 44.75% of the Company's net profits in 2011. Dividends will be paid as of 1/4/2012 through direct transfer to the bank accounts linked to the investment portfolios of the shareholders.
6.Authorized the Board of Directors to distribute quarterly dividends as of the financial year 2012 and to take the related necessary actions.
7.Authorized the engagement of the United Electronics Co. (eXtra) as a distributor for Etihad Etisalat Company (Mobily).
8.Approved the appointment of Eng. Abdulrahman Alfehaid as a member of the Board of Directors replacing Dr. Fahad Almubarak, as of 20 December, 2011 for the remaining period of the current office of the Board, which will end on 30 November, 2012.
© Tadawul 2012
