Published: Jul 15, 2014
Source: Tadawul

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Mohammad Al Mojil Group Company announces the results of shareholder Ordinary general assembly meeting

Mohammad Al Mojil Group Company has announced that the company held its Ordinary general assembly meeting in the Head Hoffice in Dammam on 13-07-2014 corresponding to 16-09-1435 at 21:00. All resolutions of the meeting are as follows:

1- The GA approved the Board Report for the year ended Dec. 31, 2013;

2-The GA approved the Auditor Report for the year ended Dec. 31, 2013;

3-The GA approved the Consolidated Financial Results for the year ended Dec, 31, 2013;

4-The GA approved the appointment and fees of the auditors nominated by the Audit Committee, Al Bassam and Al Nemer (Allied Accountants) to review the annual and quarterly financial results for the year 2014;

5-The GA disapproved related party transactions and contracts that were executed during 2013 where the board member (Eng. Adel Bin Mohammed Al Mojil) has an interest;

6-The GA approved the appointment of Mr. Mohammad Mutlaq Al-Khaldi and Mr. William Milligan (MMG CEO) as board members to replace Mr. Fahad Al Raqtan and Mr. John Stewart Macphail.

7-Discharged the members of the Board from their functions for the year ended December 31, 2013.

Adel Al Mojil Chairman of the Board said in his speech during the general assembly meeting that 2013 has been a challenging year for the Company but as a Board of Directors we have seen some good progress towards our goal to restructure the Company and return it to profitability.

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