Zamil Industrial Announces the Results of Shareholder Ordinary General Assembly Meeting

Zamil Industrial Investment Company convened its ordinary general assembly meeting at the Zamil Air Conditioners Auditorium in the First Industrial City in Dammam on 16 April 2014 corresponding to 16-06-1435H at 18:30. All resolutions of the meeting are as follows:

Agenda1: Approve the Board of Directors' report for the year 2013.

Agenda2: Approve Zamil Industrial final accounts and auditors' report for the fiscal year ending 31 December 2013.

Agenda3: Agree to hold the Board of Directors free from any liabilities for the fiscal year ending 31 December 2013.

Agenda4: Approve the Board's recommendation for the distribution of second half 2013 dividends at SAR 1.00 per share, which represents 10 percent of paid-up capital for a total amount of SAR 60 million, in addition to previously distributed first half 2013 dividends at SAR 0.75 per share. This brings the total distribution for the year ending 31/12/2013 to SAR 1.75 per share, representing 17.5% of paid-up capital. Dividends eligibility will be for shareholders registered at the close of trading on the general assembly date. Dividend distribution will occur on 30/04/2014 by means of transfer through the National Commercial Bank.

Agenda5: Approve distribution of SAR 2,000,000 as Board Remuneration for the year ending 31/12/2013 at SAR 200,000 per Board Director.

Agenda6:- Approve the related party transactions between the company and affiliated companies of Zamil Group Holding Company that took place during 2013 and approve them for an additional year. It is worth noting that all the following agreements are annual or remain in effect for a specific period of time. They are automatically renewed, have been agreed upon for years and are related to prolonged business relationships. They have been agreed upon with normal and standard applied commercial terms and as per internal company policies. These agreements are as follows: (a) Approve related party transactions for the value of SAR 3,286,026 from Zamil Architectural Holding Company, which is owned by Zamil Group Holding Company. The latter is represented by Mr. Khalid Al Zamil who is also the Chairman of Zamil Industrial. (b) Approve related party transactions for the value of SAR 14,527,339 from Zamil Chem-Plast Industries, which is owned by Zamil Group Holding Company. The latter is represented by Mr. Khalid Al Zamil who is also the Chairman of Zamil Industrial. (c) Approve related party transactions for the value of SAR 63,393,935 from Zamil Trade & Services Holding Company, which is owned by Zamil Group Holding Company. The latter is represented by Mr. Khalid Al Zamil who is also the Chairman of Zamil Industrial. (d) Approve related party transactions for the value of SAR 18,349,920 from Zamil Real Estate Holding Company, which is owned by Zamil Group Holding Company. The latter is represented by Mr. Khalid Al Zamil who is also the Chairman of Zamil Industrial.

Agenda7:- Approve the appointment of Deloitte & Touche (Bakr Abualkhair & Co.) as external auditors, as per the recommendation of the Audit Committee, to audit the company's quarterly and annual accounts for the year 2014 and the first quarter of 2015 and agree to their service fee.

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