Saudi Advanced Industries Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
- Date : 2022-06-01
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of the Saudi Advanced Industries Company is pleased to announce the results of the Ordinary General Assembly meeting (first meeting).The meeting was held at 7:00 pm on Tuesday 1/11/1443 AH corresponding to 31/5/2022 AD, in presence and by means of modern technology. |
| City and Location of the General Assembly’s Meeting | – Riyadh, Double Tree by Hilton Hotel – Northern Ring Road – Al-Morouj Business Gate – Al-Morouj District – Exit 5.
– By means of modern technology. |
| Date of the General Assembly’s Meeting | 2022-05-31 Corresponding to 1443-11-01 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 44.77% |
| 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. Mohsen bin Hassan Al-Fahadi (Vice Chairman of the Board of Directors)
His Excellency Mr. Khalid bin Mohammed Al Muammar His Excellency Mr. Badr bin Khalid Al-Shathry 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 Mohsen bin Hassan Al-Fahadi (Chairman 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 report of the Board of Directors for the fiscal year ending on December 31, 2021.
2. Approval on the financial statements for the fiscal year ending on December 31, 2021. 3. Non approving on the company’s auditor’s report for the fiscal year ending on December 31, 2021. 4. Not agreeing to absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2021. 5. Approval of the appointment of the company’s auditor, Ibrahim Ahmed Al-Bassam & Co. Office, from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third quarters and annual of the fiscal year 2022 AD and the first quarter of the fiscal year 2023, and determine his fees.
6. Approval on the Board of Directors’ recommendation to distribute cash dividends of (37.5) million riyals to shareholders for the fiscal period ending 31-12-2021 at 7.5% of the nominal value of the share at 0.75 riyals per share. This is for the number of 50 million shares, provided that the eligibility is for the shareholders who own the shares at the end of trading on the day of the general assembly and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, Dividend distribution will start on Wednesday, 15/06/2022. . 7. Approval to dissolve the Board of Directors based on the request submitted by a shareholder who owns shares representing 5.09% of the company’s capital. 8. Elect members of the Board of Directors from among the candidates for the next session, which begins from the date of the ordinary general assembly meeting on 31/05/2022 and its duration is three years, ending on 05/30/2025: The following members were elected: Mr. Abdullah Saleh Alsanea Mr. Abdullah Muhammad Al-Humaidhi Mr. Abdul Rahman Nasser Al-Obaid Mr. Abdullah Suleiman Al-Jareesh Mr. Musa Abdullah Al-Ruwaili Mr. Yazid bin Khalid Al-Shathry Mr. Badr bin Khalid Al-Shathry |
| Additional Information | The company would like to note that the dividend distribution date has been set in Clause No. (6).
The company urges its valued shareholders to update their data with the banks to ensure that their due profits are deposited directly into their accounts.
The Board of Directors of the Saudi Company for Advanced Industries is also pleased to thank all shareholders for their participation and attendance of the work of the Ordinary General Assembly meeting (the first meeting). |