United International Transportation Company (Budget Saudi) Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of United International Transportation Company (Budget Saudi) is pleased to announce the results of the Ordinary General Assembly (First Meeting), which was held on Thursday 13/04/2023 at 22:30 by using modern technology means. |
| City and Location of the General Assembly's Meeting | By means of modern technology from the Company's Headquarters in Jeddah. |
| Date of the General Assembly's Meeting | 2023-04-13 Corresponding to 1444-09-22 |
| Time of the General Assembly's Meeting | 22:30 |
| Percentage of Attending Shareholders | 43.35% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The Board Members who attended the meeting are:
1. Bassim Abdullah Alim (Board Chairman) 2. Khaled Abdullah Aldabal (Board Vice-Chairman) 3. Mohammed Abdulaziz Alghannam 4. Abdulrahman Hassan Bakheet 5. Ahmed Abdullatif Albarrak 6. Abdullah Jarallah Alsaawi 7. Miqad Abdullah Alkhamis 8. Yousef Abdullah Alrajhi |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Mohammed Abdulaziz Alghannam (Chairman of the Audit Committee)
2. Miqad Abdullah Alkhamis (Chairman of the Remuneration and Nominations Committee & the Executive Committee) 3. Ahmed Abdullatif Albarrak (Chairman of the Governance and Risk Management Committee) 4. Yousef Abdullah Al-Rajhi (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 fiscal year ending on 31/12/2022.
2. The company's financial statements for the fiscal year ending on 31/12/2022 have been reviewed and discussed. 3. The Board of Directors' report for the fiscal year ending on 31/12/2022 has been reviewed and discussed. 4. Approval on paying an amount of 4,373,000 Saudi riyals as remuneration to the Board members for the fiscal year ending on 31/12/2022. 5. Approval on authorizing the Board of Directors to distribute interim profits on a semi- or quarterly basis for the fiscal year 2023. 6. Approval on the Board of Directors' recommendation to distribute dividends for the second half of 2022 at the rate of 1.5 riyals per share, representing 15% of the capital with a total amount of 106,750,002 Saudi riyals, Provided that the entitlement to dividends is for shareholders holding the shares by the end of the trading day of the assembly date, and who are registered in the Company's shareholders registry held with the Securities Depository Center Company (Edaa) at the end of the second trading day following the entitlement date. the distribution date to be announced later. 7. Approval on discharging the members of the Board of Directors from liability for the fiscal year ending 12/31/2022. 8. Approval on the Board’s resolution to appoint Mr. Ahmed Abdelatif AlBarrak (Independent Board Member) as an Audit Committee member, starting from 15/05/2022. until the end of the current committee’s term on 20/06/2024, to succeed the former committee member Mr. Khaled Abdullah Aldabal (Non-executive board member), effective from the date of the resolution issued on 15/05/2022 and this appointment comes in accordance with the Audit Committee’s charter. |
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