News & Announcements

SAUDI ELECTRICITY

15 May, 2024 08:39

Saudi Electricity Co. Announces the Results of the 27th Ordinary General Assembly Meeting, (First Meeting)

Element List	Explanation
Introduction	Saudi Electricity Company is pleased to announce to its valued shareholders the results of the 27th Ordinary General Assembly Meeting (First Meeting)
City and Location of the General Assembly's Meeting	Through modern technology from the Company’s headquarters in Riyadh (via Tadawulaty platform)
Date of the General Assembly's Meeting	2024-05-14 Corresponding to 1445-11-06
Time of the General Assembly’s Meeting	19:30
Percentage of Attending Shareholders	87.89%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The following Board members attended the meeting: 1- H.E. Dr. Najm Abduallah Alzaid (Chairman) 2- Dr. Raed Nasser Alrayes (Vice- Chairman) 3- Mr. Walid Ibrahim Shukri 4- Mr. Khalid Salem Alrowais 5- Mr. Mohammed Abdulrahman Albalaihed 6- Dr. Mohammed Saeed Owayedh 7- Eng. Abdulaziz Ahmed Al-Naim 8- Eng. Scott Mathew Prochazka 9- Mr. Cheong, Seung-IL
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	1- Dr. Najm Abduallah Alzaid (Chairman of the Executive Committee) 2- Mr. Walid Ibrahim Shukri (Chairman of the Risk and Compliance Committee) 3- Mr. Khalid Salem Alrowais (Chairman of the Audit Committee) 4- Mr. Mohammed Abdulrahman Albalaihed (Chairman of the Nomination and Remuneration Committee) 5- Dr. Mohammed Saeed Owayedh (Chairman of the Technical Committee 6- Eng. Abdulaziz Ahmed Al-Naim (Chairman of Health, Safety, Security, Environment and Sustainability Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	1- The Board of Directors Report for the fiscal year ended on 31-12-2023 was reviewed and discussed. 2- The financial statements for the fiscal year ended on 31-12-2023 was reviewed and discussed. 3- Approval of the External Auditor’s report on the Company’s accounts for the fiscal year ended on 31-12-2023. 4- Approval of the Board’s recommendations to distribute dividends amounting to (2,916,615,670.5 SAR) to the shareholders for the fiscal year ended on 31-12-2023, at an amount of (70 Halala) per each share, representing (7%) of the capital. The eligibility of dividends distribution will be for the shareholders holding shares by the end of the trading session on the day of the general assembly date, and who are registered in the Company's shareholders register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date. Dividends will be paid as of Thursday, 30/05/2024 through the Al-Rajhi Bank and all of its branches across the Kingdom as follows: a- For the shareholders who hold investment portfolios that are linked to bank accounts, their due dividends will be deposited in their accounts with the banks they deal with. b- For the shareholders holding investment portfolios that are not linked to bank accounts and the shareholders who hold certificates, they must visit any of the Al-Rajhi Bank branches across the Kingdom with proof of their eligibility to receive dividends. 5- Approval of discharging the liability of the Board members for the fiscal year ended on 31-12-2023. 6- Approval of paying an amount of (5,762,067 SAR) as a remuneration for members of the Board of Directors for the fiscal year ended on 31-12-2023.

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