The Saudi Investment Bank’s Board of Directors would like to invite the shareholders to its Extraordinary General Assembly which will be held on Saturday 21/04/1432H corresponding to 26/03/2011G at 4:00 p.m. at the Bank’s Head Office building on Ma’ather street.
Agenda of the meeting:
- Approval of Board of Directors report to the shareholders on SAIB's results for the year ending December 31, 2010.
- Approval on SAIB's financial statements for the year ending December 31, 2010.
- Releasing the Board of Directors for their actions during the period from 01/01/2010 to 31/12/2010.
- Approval to increase the bank’s capital from SR 4,500 million to SR 5,500 million by issuing one bonus share for each 4.5 existing shares to all shareholders at the end of the extraordinary General Assembly date, the increase will be affected by transferring SR 1,000 million from the retained earnings as of 31/12/2010, any fractions will be added and sold to the shareholders.
- Amendment of Article (8A) of SAIB's Article of Association in respect of capital increase from SR 4,500,000,000 to SR 5,500,000,000.
- Approval of the board's proposal to select external auditors for the year 2011, and establishing relevant fees.
- Approval of the terms of reference for the Nominations and Remunerations Committee, members’ selection criteria and their term.
All shareholders are eligible to attend the meeting; the shareholder also has the right to appoint any other shareholder (neither a Board member nor a bank’s staff) to represent him in the meeting through a written power of attorney, the shareholder should present all documents to supports his ownership, the power of attorney should be attested by any of the following:
- Chamber of Commerce
- Any Bank
- Place of work
The quorum for the extraordinary general assembly is the attendance of shareholders owning at least two thirds of the capital.
Board of Directors.
