Press Releases

05 January 2009

Press Release on the results of SIIL Board of Directors' Meeting held on 04/01/2009

The Board of Directors (BOD) of Salam International Investment Limited (SIIL) held its Ordinary 59th meeting on Sunday, 04/01/2009 for the announcement of the opening of candidacy and appointment for Board Directorship, the BOD approve of the conditions of candidacy and of appointment for Board Directorship according to the company's bylaw and the commercial companies law No. (5) of 2005.

It is worth mentioning that SIIL bylaw grants each shareholder who owns 10% of the company’s shares which is equivalent to 9,315,168 shares, the right for Board Directorship, or to appoint a representative even if not a shareholder, and the owner of the multiples of (10%) has the right to appoint more than one member.

In case the shareholder who owns 10% or its multiples of the company's shares does not exercise his right to appoint a Board member, he will lose his right to elect the rest of the Board members by votes equivalent to the mentioned percentage or its multiples, and he retains his right of voting in the election by votes equivalent to what exceeds the mentioned percentage or its multiples and what's less than 10% of the Company's shares or its multiples.

The BOD resolved opening candidacy for Board Directorship for shareholders who own 10 thousands shares of the company's shares, and the appointment for Board Directorship for shareholders who own 10% of the Company's shares, starting from 18/1/2009 and for a month period. The announcement of candidacy, appointment & conditions will be published in local newspapers within next coming days.

Dr.Adnan Steitieh
Secretary Board of Director

This text has been translated from its original Arabic
equivalent, which remains the official version.