Wednesday, 19 January 2022

Dur approves election of 9 BOD members, transfer of SR143 mln from reserve balance to the retained earnings

The Board of Directors of Dur Hospitality Co. announced on Monday the results of the Extraordinary General Assembly meeting (First Meeting) that was held in Riyadh – Headquarters and through modern technology means on Sunday 05/12/2021G and after completing the legal quorum for the validity of the association.

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The general assembly was held by personal presence in Riyadh city at the diplomatic quarter, and virtual through modern means of communication with percentage of attending shareholders 81.39%.

Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees:

The meeting was attended by the following board members:

  1. Eng. Abdullah Mohammed Aleisa (Chairman of Board of Directors)
  2. Mr. Fahad Abdullah Alqasim (Vice chairman of Board of Directors)
  3. Dr. Saleh Ali Alhathloul
  4. Mr. Jihad Abdulrahman Alqadhi (Representative of the Public Investment Fund)
  5. Mr. Asim bin Saad Al-Jurayyad (Representative of the General Organization for Social Insurance)
  6. Mr. Talal Abdulmohsen Almlafakh (Representative of the General Organization for Social Insurance)
  7. Mr. Musaab Suliman Almohaideb
  8. Mr. Badr Abdullah Aleisa
  9. Mr. Ibraheem ali Alaboud

Names of the chairmen of the committees present at the General Assembly’s meeting or members of such committees attending on their behalf:

  1. Mr. Fahad Abdullah Alqasim (Chairman of the Investment Committee)
  2. Mr. Talal Abdulmohsen Almlafakh (Chairman of the Audit Committee)
  3. Mr. Musaab Suliman Almohaideb (Chairman of the Nomination and Remuneration Committee)

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

  1. Approval on election of the Board members from among the candidates for the next term, commencing from 01/01/2022 for a term of three years, ending on 31/12/2024 and their names are as follows :
  2. Mr. Bader Abdullah Alissa (Non – Executive)
  3. Mr. Jehad Abdulrahman Alkadi (Independent)
  4. Mr. Mishary Najy Alibraheem (Non – Executive) (Representative of the Public Investment Fund)
  5. Mr. Fahad Abdullah Alkassim (Non – Executive)
  6. Mr. Fahad Abdullah Alissa (Non – Executive)
  7. Mr. Abdullah Tarek Alkasabi (Independent)
  8. Dr. Saleh Ali Alhathloul (Non – Executive)
  9. Mr. Faris Ibrahim Alrashed Alhumaid (Independent)
  10. Mr. Talal Abdulmohsen Almulafikh (Non – Executive)(Representative of the General Organization for Social Insurance)
  11. Approval on the formation of the Audit Committee, and the definition of its duties, work regulations and remuneration of its members for the new term, starting from 01/01/2022 until the end of the term on 31/12/2024 and their names are as follows:

1- Talal bin Abdulmohsen Al Malafikh (Member of the Board of Directors – Non-Executive)

2- Abdulrahman bin Abdullah Al Duhaim (from outside the board of directors – independent)

3- Ibrahim bin Salem Al Rwais (from outside the board of directors – independent)

4- Abdullah bin Tariq Al Gasabi (Member of the Board of Directors – Independent)

  1. Approval on the Board’s resolution to appoint representative of Hassana Investment Co. (the investment arm) of GOSI (Asim bin Saad Al-Jurayyad) as a (Non- Executive) board member starting from the date of his appointment on 27/06/2021 G. to complete the Board term until the end of the current term on 31/12/2021 G., succeeding the former member (Abdullah bin Abdulrahman Al Shamrani) (non-executive).
  2. Approval on the recommendation of the board of directors to transfer the total conventional reserve balance SR 143,002,490 allocated for maintenance work and the purposes determined by the Board of Directors as in the financial statements ending in 2020 G to the retained profits.

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