AMAK shareholders authorize board to announce interim dividends for 2022

Logo of Al Masane Al Kobra Mining Co.

Al Masane Al Kobra Mining Co.’s (AMAK) shareholders authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2022 during the extraordinary general assembly meeting (EGM) held on June 26.

They approved the board and auditor’s report, as well as audited financial statements for 2021. Additionally, shareholders gave the nod to absolve the board members from liabilities for their activities related to company management for last year.

Furthermore, the approval was given to appoint Ernst & Young asthe external auditor to examine, review and audit Q2, Q3, and 2022, as well as Q1 2023 statements. 

Additionally, shareholders approved the business contracts concluded with other companies and amendments to the company’s bylaws.

They also approved granting the board the powers of the general assembly as stipulated in the Companies Law, for a period of one year starting from the general assembly approval date or until the end of the delegated board’s term, whichever is earlier.