Mobily sets agenda for general assembly on June 9

Etihad Etisalat’s (Mobily) board of directors has set an agenda for its upcoming ordinary general assembly, which is scheduled for June 9.
 

Investors who own more than 20 shares are invited to attend the meeting in Riyadh.

Shareholders will discuss and approve the board’s recommendation to distribute a SAR 1,925 million interim dividend to shareholders for the first and second quarters of 2014 at SAR 2.5 per share. The board, however, has recommended withholding cash dividends for third quarter and fourth quarters of 2014.

The assembly is set to authorize a SAR 264,734 one-year contract for United Electronics Company (eXtra), which will make the company a distributor for Mobily. The company noted that its board chairman currently has an indirect interest in eXtra through Abdulaziz Alsaghyir Commercial Investment Co.

Attendees will also approve the company’s financial statements and board report for 2014. The assembly is set to discharge board members from liabilities for the ended term, and will appoint new board members and auditor.