Zain KSA shareholders elect new board, audit committee

Logo of Mobile Telecommunication Company Saudi Arabia

Mobile Telecommunication Company Saudi Arabia’s (Zain KSA) shareholders elected new board members for the coming three-year term, starting April 26, 2022, during the ordinary general meeting (OGM) held on April 20, the company said in a bourse statement.

The new board includes Prince Naif Al Kabeer, Bader Al-Kharafi, Osama Matta, Saud Al-Bawardi, Kamil Hilali, Martial Caratti, Firas Oggar, Abdullah Alfaris and Saad Al-Mousa.

They also approved financial statements, as well as board and auditor reports for 2021.

Meanwhile, shareholders appointed an auditor for Q2, Q3, and 2022, as well as Q1 2023, in addition to discharging board members from liabilities for 2021.

They also ratified the payment of SAR 3.675 million to board members as remuneration for 2021.

Additionally, the OGM approved the formation of the audit committee for the new term starting April 26, 2022, which includes Ossama Matta, Martial Caratti and Georges Pierre.

At the same time, shareholders approved granting the board of directors the authorization powers of the general assembly for one year starting from the date of the approval or until the end of the delegated board’s term, whichever is earlier, in accordance with the conditions outlined in the Regulatory Rules and Procedures issued pursuant to the Companies Law.