Saudi Advanced Industries Co. Announces the Results of the Extraordinary General Assembly Meeting, ( Third Meeting )
- Date : 2021-06-24
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of SAIC is pleased to announce the results of the Extraordinary General Assembly meeting (third meeting) which was held through modern technology at 8:00 PM on Wednesday 13/11/1442 corresponding to 23/06/2021 |
| City and Location of the General Assembly’s Meeting | By means of modern technology – Head Office of SAIC – Riyadh |
| Date of the General Assembly’s Meeting | 2021-06-23 Corresponding to 1442-11-13 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 33.25% |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | The meeting was attended by the following board members:
His Excellency Mr. Yazid bin Khalid Al-Shathry (Chairman of the Board) His Excellency Mr. Khalid bin Mohammed Al Muammar His Excellency Mr. Badr bin Khalid Al-Shathry Her Excellency Mrs. Suha Bint Suwa`d Al-Jahdali Names of the Absentees: His Excellency Mr. Mohsen bin Hassan Al-Fahadi (Vice Chairman of the Board of Directors) His Excellency Eng. Saad bin Ammash Al-Shammari His Excellency Mr. Turki bin Mohammed Al-Beez |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf | His Excellency Mr. Khalid bin Mohammed Al-Muammar (Chairman of the Audit Committee)
His Excellency Badr bin Khalid Al-Shathry (Member of the Nominations and Remuneration Committee)
His Excellency Mr. Yazid bin Khalid Al-Shathry (Chairman of the Investment Committee) |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1- Approval on the Company’s auditor’s report for the financial year ending December 31, 2020
2- Approval on the financial statements for the financial year ending on December 31, 2020 3- Approval on the report of the Board of Directors for the year ending December 31, 2020 4- Approval on discharging the members of the Board of Directors for the financial year ending on December 31, 2020 5- Approving the appointment of the company’s auditor, Ibrahim Ahmed Al-Bassam & Co.’s office, from among the candidates, based on the audit committee’s recommendation, to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2021 AD, and the first quarter of the year 2022 AD, and determine its fees. 6- Non approving on the Board of Directors’ decision to appoint Her Mrs. Suha Bint Suwaid Al-Jahdali as an (independent) member of the Board of Directors, starting from the date of her appointment on March 11, 2021 AD to complete the Board’s session until the end of the current session on September 16, 2023 AD in succession of the previous member HE Mr. Salman bin Nasser Al-Hawawi (independent member). 7- Approval on the Recommendation of the Board of Directors to distribute cash dividends for the second half of fiscal year 2020 by 2.5% of the face value of the share by 0.25 riyals per share and a total of 12.5 million riyals for the number of 50 million shares, with the eligibility of the company’s shareholders to be the owners of the shares at the end of the trading day of the General Assembly and tied to the company’s shareholders register at the Securities Deposit Center at the end of the second trading day following the due date, Dividends will be distributed as of Monday 05/07/2021. 8- Non approving on the amendment of Article (3) of the Company’s Articles of Association related to the purposes of the Company. 9- Non approving on the amendment of Article (40) of the Company’s Articles of Association related to the Audit Committee. 10- Non approving on the amendment of Article (48) of the Company’s Articles of Association related to the distribution of profits. |
| Additional Information | The Company wishes to note that the date of the distribution of profits has been determined in item 7, through Edaa Center.
The company would like to remind its valued shareholders to update their data with banks to ensure that their due profits are deposited directly into their accounts. |