Based on the company’s bylaws, the Ordinary General Assembly Meeting No. (2) was held remotely on Monday, July 31, 2023, at 1:00 pm, headed by the Chairman of the Board of Directors, Mr. Muhammad bin Saleh Al-Suhaibani, and in the presence of Mr. Ayman bin Ali Al-Maghribi, Secretary of the Association. A collector of votes announced the completion of the quorum required to hold the meeting, as shareholders representing (1,020,000) shares attended, representing (85%) of the total capital of (12,000,000) shares. Therefore, the meeting of the assembly is valid in accordance with the text of Article (62) of the Companies Law. Then the Assembly President asked the Assembly Secretary to read out the items on the meeting agenda. After that, the floor was opened for discussion and the Assembly President asked the shareholders to vote on the agenda items. The result of the vote was as follows: –
- The financial statements for the fiscal year ending on December 31, 2022 were presented, discussed, and approved.
- The auditor’s report for the financial year ending on December 31, 2022 was presented, discussed, and approved.
- The office of Abdullah bin Abdulaziz Al-Bayoud was chosen to be the company’s auditor for the year 2023
- The Board of Directors’ report for the financial year ending on December 31, 2022 was heard and approved
- The Board of Directors has been absolved of liability for the financial year ending December 31, 2022.
- It was approved to appoint Mr. Ahmed bin Sulaiman Al-Jasser as an alternative member of the Board of Directors for the current session.
- The Audit Committee’s report for the fiscal year ending on December 31, 2022 was presented, discussed, and approved.
- The Board of Directors was authorized to transform the company’s branches into independent companies.
The meeting ended at 1:38 pm, with the Association President thanking all attendees for participating and attending this meeting.
