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Saudia Dairy and Foodstuff Co. announces the results of shareholder Ordinary general assembly meeting

Saudia Dairy and Foodstuff Company (SADAFCO) announces that the company held its Annual General Assembly Meeting in the Alfursan Hall of the Casablanca Grand Hotel in Habis Attai Street, Al Naeem District (opposite Mall of Arabia), Jeddah, on 28/08/1438 (corresponding to 24/05/2017) at 6:30pm with total quorum of 56.81287%.
The resolutions of the meeting were:
1- Approval of the Board of Directors Annual Report for the Financial Year ended 31/03/2017.
2- Approval of the Auditors Report for the Financial Year ended 31/03/2017.
3- Approval of the Balance Sheet and Profit and Loss Account for the period 01/04/2016 to 31/03/2017.
4- Approval of the Board of Directors recommendation to distribute dividends amounting to SAR 130 million at 4 Riyals per share, which is equivalent to 40% of the capital, shall be distributed to shareholders own shares at the end of trading on the date of the General Assembly Meeting to the shareholders registered in the Securities Depository Centre on the second day following the eligibility day. The dividend distribution date will be announced at a later date.
5- Approval to appoint Price Waterhouse Coopers (PWC) as external auditor as nominated by the Audit Committee. They are appointed to audit the company accounts for the Financial Year starting 01/04/2017 to 31/03/2018 and the Quarterly results. Their fees are SAR 680,000.
6- Clearing the liability of the members of the Board of Directors for the period starting 01/04/2016 to 31/03/2017.
7- Approval to pay SAR 2.8 million as remuneration for Board Members (SAR 400k per member) for the Financial Year ended on 31/03/2017.
8- Approval of the transactions and agreements that will be made with related-party contract with Al Buruj Co-operative Insurance Company in Saudi Arabia to provide insurance services and to permit the contract to be from 1/07/2017 to 30/06/2018. Al Buruj Co-operative Insurance Company is an affiliate company since Gulf Insurance Company owns 28.5% of Al Buruj Co-operative Insurance Company and Mr. Faisal Al-Ayyar is Vice Chairman of both Gulf Insurance Company and Saudia Dairy and Foodstuff Company (SADAFCO).
9- Election of the following as Board Members for the next three-cycle from 01/04/2018 to 31/03/2021 by using accumulative voting:
1- Mr. Saeed Ahmed Saeed Basamh
2- Mr. Faisal Hamad Mubarak Al Ayyar
3- HH Sheikh Hamad Sabah Al Ahmed
4- Mr. Ahmed Mohamed Hamed Al Marzouki
5- Mr. Mussad Abdullah Abdul Aziz Al Nassar
6- Mr. Suliman Saud Jarallah Al Jarallah
7- Mr. Abdullah Yaqoob Bishara
10- Approval to form the Audit Committee for the next three-year cycle from 01/04/2018 and ending on 31/03/2021. The members are as follows:
1- Mr. Faisal Hamad Mubarak Al Ayyar
2- Mr. Tariq Mohamed Abdul Salam
3- Mr. Ahmed Mohamed Hamed Al Marzouki

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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