Savola Group — AGM Information 2011

Feb 22, 2011

Savola Group Invites its Shareholders to its Assembly General Ordinary Meeting (AGM)

2050 · 22/02/2011 09:19:46 · Announcement #20425 · View on Saudi Exchange

Savola Group Invites its Shareholders to its Assembly General Ordinary Meeting (AGM)

The Savola Group, is pleased to invite its shareholders to the AGM No (34) to be held in the Park Hyatt Hotel- Lazord Hall, Jeddah on Monday 28 March 2011 corresponding to 23 Rabia Thani 1432H at 5:00 PM to discuss the following agenda:

1) Approval of the Board of Directors Annual Report for the year 2010.

2) Approval of the final audited final accounts for the year 2010.

3) Ratification of the Boards recommendation to distribute SR 125 million (SR 0.25 per share) as dividends for the fourth quarter of 2010, in addition to the total dividends distributed to shareholders for the first three quarters of 2010 at the rate of SR 1 per share (SR 500 million). Therefore, the total dividend for 2010 amounts to SR 1.25 per share, raising the total dividends paid to SR 625 million (equal to 12.5% of company capital), The maturity date for the fourth-quarter dividends will be for shareholders registered in the company books at the close of trading on the date of the AGM, mentioned above.

4) Absolve the Board members from any liability pertaining to the management of the company for the year 2010.

5) Appointing, and specifying fees of the Groups external auditor, nominated by the Audit Committee, for auditing the Groups quarterly and final accounts for the fiscal year 2011.

6) Ratification of the Board resolution by appointing H. E. Eng. Abdullah Mohammed Noor Rehaimi as a Board Member in the Savola Group, effective 21st September 2010 and for a period of three years, representing the General Investment Fund in the Board membership, replacing Eng. Adel Fakeih (former fund representative), who resigned from the Board, after his appointment as Minster of Labor in August, 2010.

Each shareholder shall have the right to attend the AGM whether in person or by proxy, regardless of shares ownership, in case of proxy a corroborating evidence or a written power of attorney endorsed by the Chamber of Commerce or a bank should be presented and copy of the mentioned proxy should be send to the Company Head office in Jeddah prior three days from the date of the said meeting to company address (P.O. Box 14455 Jeddah 21424), HQ.The legal quorum for the AGM will be 50% of the capital of the company. The attendance registration of Shareholders will start at 3:00 PM InshaAllah. Its worth mentioning that, the company has obtained the necessary approval from the Ministry of Commerce & Industry on the AGM Agenda and date of the meeting.

The Capital Market Authority and Saudi 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.