Dar Al-Arkan announces the results of its AGM (2329G)

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RNS Number : 2329G

Dar Al-Arkan International Sukuk II

27 June 2012

Dar Al-Arkan announces the results of its ninth meeting of the Ordinary General Assembly.

The ninth meeting of the Ordinary General Assembly "the Assembly" of Dar Al-Arkan Real-estate Development Company shareholders was convened in MAKARIM conference hall of MARRIOT Hotel in the evening of Tuesday, 06/08/1433 HD corresponding to 26/06/2012, at 16:00 hrs in Riyadh, after it's quorum confirmation, deliberation and discussion of the meeting agenda, and in light of voting results, the majority of the Assembly has decided the following:

   1.    To approve the Board of Directors report for the fiscal year ended 31/12/2011. 

2. To approve the financial statements and auditor's report for the fiscal year ended 31/12/2011.

3. To approve discharge of the members of the Board of Directors for the fiscal year ended 31/12/2011.

4. Selection and appointment of Bakr Abulkhair and their associates Deloitte & Touche, and Talal Abu-Ghazaleh and their associates as the Companys external auditors for the fiscal year 2012.

5. To approve the related party transactions that took place during the fiscal year ended 31/12/2011, and to license it for the coming year. The transactions are made with "the Saudi home loans Company".

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