Saudi Paper Manufacturing Co. Announces the Results of the Extraordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Saudi Paper Manufacturing Company is pleased to announce the results of the company’s extraordinary general assembly meeting, which was held at exactly eight o’clock in the evening on Thursday 06/09/2022 AD, in Dammam at the company’s headquarters and through modern technology means, and the attendance rate reached 47.97%, and after completing The quorum required for the assembly to be valid, the voting results were as follows: |
| City and Location of the General Assembly's Meeting | The company's headquarters is in Dammam, and remotely |
| Date of the General Assembly's Meeting | 2022-06-09 Corresponding to 1443-11-10 |
| Time of the General Assembly's Meeting | 20:00 |
| Percentage of Attending Shareholders | 47.97% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Abdullah Al Kharashi (Chairman of the Board of Directors).
2. Mr. Bashar Aba Al-Khail (Vice Chairman of the Board of Directors). 3. Mr. Abdul-Majeed Al-Abdulwahab 4. Mr. Abdul Rahman Al Mishaal. 5. Mr. Abdulaziz Al-Mishal. 6. Mr. Wael Al-Bassam 7. Dr. Hani Al-Zaid |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Wael Al-Bassam (Chairman of Nominations and Remunerations Committee)
Mr. Bashar Aba Al-Khail (Chairman of Audit Committee) Mr. Abdul Rahman Al Mishaal (Chairman of Executive Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approval of the financial statements for the fiscal year ending on December 31, 2021 AD
2- Approval of the report of the Board of Directors for the financial year ending on December 31, 2021 AD. 3- Approval of the company’s auditor’s report for the financial year ending on December 31, 2021 AD 4- Approval of the appointment of Ibrahim Ahmed Al-Bassam & Partners Chartered Accountants Company (Al-Bassam & Partners) as the company’s auditor, to examine, review and audit the financial statements for the (second, third and fourth) and annual quarters of the fiscal year 2022 and the first quarter of the fiscal year 2023, and determine their fees 5- Approval of the payment of (1,053,000) riyals as a bonus to the members of the Board of Directors for the fiscal year ending on December 31, 2021 AD 6- Approving the disbursement of an amount of (800,000) riyals as a reward to the members of the committees for the fiscal year ending on December 31, 2021 AD. 7- Approving the disbursement of an amount of (950,000) riyals as a bonus to members of the executive management for the fiscal year ending on December 31, 2021 AD 8- Approval of the business and contracts concluded between the company and East Gas Company, in which Board member Abdulaziz bin Raed Al-Mishal has an indirect interest, which is a gas services contract amounting to 7.8 million riyals in the year 2021, according to the prevailing commercial terms. 9- Approval of authorizing the Board of Directors with the authority of the Ordinary General Assembly with the authorization contained in Paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the delegated Board of Directors’ session, whichever is earlier, in accordance with the conditions set forth in the controls and procedures The regulations issued in implementation of the Companies Law for Listed Joint Stock Companies. 10- Approval of the amendment of Article (22) of the company's articles of association, which is related to the remuneration of board members. 11- Approval of the amendment of the work regulations of the Audit Committee |
| Additional Information | no more |
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