Saudi Advanced Industries Co. Announces the Results of the Extraordinary General Assembly Meeting, ( Third Meeting )
- Date : 2023-10-26
| Element List | Explanation |
|---|---|
| Introduction | Saudi Advanced Industries Company announces the results of the Extraordinary General Assembly meeting (third meeting), which was held at 06:30 pm on Wednesday, Rabi’ al-Thani 10, 1445 AH, corresponding to October 25, 2023 AD, via modern technology (remotely). |
| City and Location of the General Assembly’s Meeting | At the company’s headquarters in the city of Riyadh , by means of modern technology. |
| Date of the General Assembly’s Meeting | 2023-10-25 Corresponding to 1445-04-10 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 17.6% |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | The following members of the Board of Directors also attended:
1- Mr. Abdullah Mohammed Al-Homaidhi – Chairman of the Board of Directors. 2- Mr. Abdul Rahman Nasser Al-Obaid – Vice Chairman of the Board of Directors. 3- Dr. Abdullah Suleiman Al-juraish – Managing Director of the Board of Directors. 4- Mr. Faisal Abdullah Al Mashouh – Member of the Board of Directors. 5- Engineer/ Ahmed Abdul Rahman Al-Rabiah – Member of the Board of Directors. 6- Mr. Yasser Rashid Al-Rasheed – Member of the Board of Directors. 7- Mr. Fahd Muhammad Al-Ruwaigh – Member of the Board of Directors. |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf | Mr. Abdul Rahman bin Nasser Al-Obaid (Chairman of the Nominations and Remunerations Committee / Chairman of the Audit Committee)
Dr. Abdullah bin Sulaiman Al-Juraish (Chairman of the Investment Committee) |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | The results of the vote on the Assembly’s agenda were as follows:
1-Approval to amend the company’s bylaws in accordance with the new companies’ bylaws. 2-Approval to amend Article one of the company’s bylaws, related to incorporation 3- Approval of amending Article Two of the company’s bylaws, related to the company’s name. 4-Approval to amend Article Three of the company’s bylaws, related to the company’s purposes. 5-Approval of amending the regulations of the Audit Committee . 6- Approval of amending the regulations of the Nominations and Remuneration Committee. 7- Approval of amending the nomination policy for membership in the Board of Directors. 8- Approval to amend the compensation and rewards policy of the Board of Directors, its committees, and the executive management. 9- Approval of the Board of Directors’ decision to appoint Yasser Rasheed Al-Rasheed as an independent member of the Board of Directors, starting from the date of his appointment on 05/23/2023 AD to complete the Board’s session until the end of the current session on 05/30/2025 AD, succeeding the former member Musa Abdullah Al-Ruwaili, an executive member. 10- Not approval of the Board of Directors’ decision to appoint Fahd Muhammad Al-Ruwaigh as an independent member of the Board of Directors, starting from the date of his appointment on 05/30/2023 AD to complete the Board’s session until the end of the current session on 05/30/2025 AD, succeeding the previous member, Yousef Muhammad Al-Qaffari, an independent member. |
| Additional Information | The Board of Directors of Saudi Advanced Industries Company is pleased to thank all shareholders for their participation and attendance of the work of the Ordinary General Assembly meeting (the second meeting). |