stc approves appointment of EY as an auditor to examine and audit financial statements

Saudi Telecom Company (stc) announced the results of the Ordinary General Assembly meeting (First meeting), held on May 11, 2023.

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

1. The Board of Directors report for the fiscal year that ended on Dec. 31, 2022, was viewed and discussed.
2. The financial statements for the fiscal year that ended on Dec. 31, 2022 was viewed and discussed.
3. Approval of stc’s Auditor Report after discussing it for the fiscal year ended on Dec. 31, 2022.
4. Approval on appointing the auditor Ernst & Young & Partners (EY) as auditor of the Company from the selected candidates based on the Audit Committee’s recommendation. The appointed auditor shall examine, review and audit the (second and third) quarters and annual financial statements of the fiscal year 2023, and the (first, second and third) quarters and annual financial statements of the fiscal year 2024. In addition to, the determination of the auditor’s remuneration.
5. Approval on authorizing the Board of Directors with the General Assembly authority with the rights mentioned in paragraph (1) of Article (27) of the Companies Law for one year from the date of approval of the General Assembly or until the end of the session of the authorized Board of Directors, whichever is earlier, in accordance with the conditions mentioned in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
6. Approve paying SAR 6,345,000 as remunerations for the members of the Board of Directors for the fiscal year ending on Dec. 31, 2022.