Almarai Holds Extraordinary General Assembly, Increases Capital
Sunday evening, Almarai Company held its extraordinary meeting. Members of the board and some shareholders attended the meeting, in which they approved increasing the corporate capital from SAR 6bn to SAR 8bn, distribution of dividends for the past year ending December 31st 2015 to shareholders at SAR 1.15 for each stock, and all other items on the agenda.
The meeting of the board and shareholders included open dialogue between them about Almarai’s plans and main strategies.
H.H. Prince Sultan bin Mohammad, Chairman of Almarai’s Board of Directors said that Almarai, with Allah’s help, is able to encounter the business challenges in the new year. He added that the Company would go ahead with developing its business and products according to its strategy, intensifying its efforts in Saudization of jobs, as prime priority for the Board. Prince Sultan bin Mohammad extended many thanks to the Custodian of the Two Holy Mosques, the Crown Prince, and the Deputy Crown Prince for their unlimited support to the private sector companies, leading most to the biggest impact on their development.
On his part, Mr. Georges Schorderet, Almarai’s CEO presented the major accomplishments and landmarks achieved by the Company in the last year, and apprised the attendees of performance of the various sectors of the Company.
Almarai Company is established in 1977, to become the largest vertically integrated company in the world. Almarai was listed as publish joint stock company in Saudi Capital Market in 2005. The Company exports is various ranges of products to GCC and some Arab countries via the biggest transport fleet in the Middle East.