Al Marai General Assembly approves 10% cash dividends (SAR 1/share) for 2013

The General Assembly of Al Marai approved 10% cash dividends (SAR 1/share) to shareholders in its meeting held on Wednesday for the fiscal year 2013, as shown in the following table:

The GA also approved all related party transactions between the company and the Chairman of the BOD Prince Sultan bin Mohammed bin Saud Al-Kabeer as follows:

1- Fodder management and purchases contract signed with Al Kabeer Farm amounting to SAR 44.6 mn for one year at the prevailing business conditions.

2- Lease of land by Al marai Co. from heirs of Prince Mohammed bin Saud Al Kabeer for SAR 813.000 for one year at the prevailing business conditions.

3- Insurance contract between Almarai Co. and Arabian Shield Insurance Co. of which Prince Sultan bin Mohammed is the Chairman for an amount of SAR 53.9 mn for one year at the prevailing business conditions.

In addition, the GA approved all related party transactions between Almarai Co. and Savola Group which have representatives in the BOD, as follows:

1- SAR 422.4 mn sales contract for one year at the prevailing business conditions.

2- SAR 117.9 mn Packaging purchases contract from Savola Packaging Systems Co. Ltd. for one year at the prevailing business conditions.

3- SAR 88.5 mn Sugar purchases contract from United Sugar Co. for one year at the prevailing business conditions.

4- SAR 9.6 mn Soya Bean Oil purchases contract from Afia International Company for one year at the prevailing business conditions.