SABB GA approves election of 8 members to BOD

The Board of Directors of the Saudi British Bank’s announced on Thursday the results of the Ordinary General Assembly’s Meeting (First Meeting)

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1) Approve of electing the following members of the Board of Directors for the new period starting from 01/01/2023 until the end of the term on 31/12/2025

1- Ms. Lubna Suliman AlOlayan

2- Mr. Mohammed Omran AlOmran

3- Mr. Saad Abdulmohsen AlFadly (Representing the General Organization for Social Insurance GOSI)

4- Mr. Ahmed Farid AlAulaqi

5- Mr. Suliman Abdulrahman AlQwaiz

6- Mr. Martin Powell

7- Mr. Stuart Gulliver

8- Mr. Mohammed Rasheed AlMearaj

Accordingly, the new Board of Directors for the new term, which extends for three years starting from 01/01/2023 until the end of the term on 31/12/2025, shall consist of the above-mentioned members, in addition to the following representatives appointed by the Banks foreign shareholder, HSBC Holdings B.V. in accordance with Article (17) of the Banks Bylaws, and they are:

– Mr. Tony William Cripps

– Mr. Samir Assaf

– Mr. Stephen Moss

2) Approve the formation of the Audit Committee, and the definition of its duties, work regulations and remuneration of its members for the new term, starting on 01/01/2023 until the end of the term on 31/12/2025and their names are:

Mr. Martin Powell

Mr. Andrew Jackson

Mr. Abdullah Jaber Faifi

Dr. Ammr Khalid Kurdi

2) Approve delegating the Board of Directors for the new term that begins on 01/01/2023 the authority of the Ordinary General Assembly. This is in accordance with the authorization contained in paragraph (1) of Article (71) of the Companies Law, for a period of one year from the date of the approval by of the Ordinary General Assembly or until the end of the delegated Board of director’s term, whichever is earlier, and the conditions set forth in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.

3) Approve amending the Audit Committee Terms of Reference.

4) Approve amending the Nomination and Remuneration Committee Terms of Reference.

5) Approve amending the Selection Policy for Board and Board Committee Members.