STC: 9 names have been elected to the new Board

Apr 30, 2018

STC: 9 names have been elected to the new Board

The Saudi Telecom Company announces the results of the shareholder Ordinary General Assembly meeting (First Meeting) was held at the company head office in Riyadh at 18:30 am Monday 26/4/2018 AD corresponding to 10/8/1439 H. After fulfilling the legal quorum attendance percentage was (85.19%), the Ordinary General Assembly has voted on the following:

1. Approve the Board of Directors report for the fiscal year ending 31/12/2017.
2. Approve the External Auditors report for the fiscal year ending 31/12/2017.
3. Approve the consolidated financial statements of the Company for the fiscal year ending 31/12/2017.
4. Approve 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. Approve to discharge of the members of the Board of Directors from liability for the year ended 31/12/2017.
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. ALFaisal
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. AlKadi
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 are included in the Board of Directors Report for the period from January 1, 2017 until December 31, 2017.