BSF announces the results of its Extra Ordinary Shareholders Meeting held at 16:00 hrs on 16/6/1435 (16/4/2014) at BSF HO, Mathar St. The results of voting was as follows:

1. The approval to increase BSF capital from SR 9,040,178,750 to SR 12,053,571,670 (the increase of BSF shares by 33% from 904,017,875 to 1,205,357,167). The increase to be implemented through the distribution of one bonus share vs. every 3 existing shares to the shareholders registered in BSF share register at the end of negotiation on the meeting date at SR 3,013,392,920 to be financed from the Bank retained profits. After the grant of bonus shares, BSF capital will be SR 12,053,571,670.
2. The amendment of Article 6 of BSF Articles of Association (Share Capital) to read as follows:
(The share capital of the company shall be SR 12,053,571,670 divided into 1,205,357,167 (One Billion, Two Hundred Five Million, Three Hundred Fifty Seven Thousand One Hundred Sixty Seven) shares of equal value of SR 10, all of which shall be ordinary and cash shares.)
3. The approval to amend Para a, Article 23, of BSF Articles of Association to be consistent with the second principle, Para 29, Principles of Governance issued by SAMA to read as follows:
a) The board shall meet at least four times a year at times determined by it and at such other times as may be determined by the Chairman or the ad hoc Chairman provided that the Chairman or ad hoc Chairman shall call a meeting of the Board whenever such meeting is required by at least two members of the Board or by the Managing Director. Meeting of the Board shall be convened by not less than 14 days notice in writing served upon each director at such place as he may specify but proceedings of the Board shall not be invalidated by the accidental omission to give any such notice.
4. The approval of the Directors Report for the Financial Year ended 31/12/2013.
5. The authentication of the Balance Sheet for the Financial Year ended 31/12/2013 and Profit/ Loss Account for the Financial Year then ended.
6. The approval of Auditors Report for the Financial Year ended 31/12/2013.
7. The approval of the Board of Directors recommendations in connection with the payment of dividends that was made on 28/7/2013 for the first half 2013, totaling SR 361,607,150 less Zakat at SR 0.40 per share or 4% of the nominal value and to consider such payment as dividend covering the entire year ended 31/12/2013.
8. The acquittal of the directors for the period from 1/1/2013 to 31/12/2013. 
9. The approval of the appointment of Messrs. Ernest & Young and Messrs. Price Water House Coopers Certified Public Accountants as external auditors of the Bank for 2014 and for one year from the midst of those recommended by Audit Committee for auditing the account statements for the year 2014 and the interim financial statements and the determination of their fees.
10. The approval and ratification of Policies and Standards of the Board Membership.
11. The approval of the Nomination and Compensation Committee charter.
12. The approval of the Audit Committee charter.
13. The approval of the Social Responsibility charter and objectives, authorizing the board of directors to support social programs as it sees fit. 
14. The approval of Cash Dividend Payment Policy.
15. The approval to authorize the board of directors to issue Sukuk and other negotiable debt instruments of all kinds and names, in SAR and foreign currencies, in one issue or a series of issues, in one part or several parts and at such times, amounts, terms and methods as may be approved by the Board. In addition, the shareholders authorize the board of directors to take whatever formalities needed in this respect after securing the necessary approvals of SAMA and other authorities. The board of directors shall have the right to grant any other person(s) all or part of its powers in this respect and the right to delegate such powers.
16. The approval of the appointment of Mr. Sulaiman Abdulrahman Al-Gwaiz, as director of the board, non-executive, representing the General Organization for Social Insurance, in replacement for Mr. Abdulaziz Habdan Al-Habdan until the completion of the term to end on 31/12/2015.

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