STC’s OGA approves dividends policy for three years starting from the fourth quarter of 2021

Saudi Telecom Company (stc) announced the results of the Ordinary General Assembly meeting that included the approval on dividends policy for the next three years starting from the fourth quarter of 2021

It also included the approval of the Company’s entry and execution of the Bookrunners Agreement.

It approved authorizing the Company’s Board of Directors, or any person delegated by the Board of Directors to approve the terms and conditions of the Bookrunners Agreement and any other related agreements, applications, documents instruments relating to the Secondary Offering including the offering document (prospectus); and execute such agreements and documentation and negotiate the same; and to carry out all other actions to execute the Secondary Offering.

Furthermore, it approved ratifying all previous actions carried out by the Company’s Board of Directors in relation to the Secondary Offering including preparatory work carried out with the Public Investment Fund in relation to the Secondary Offering and appointment of the relevant advisors.