Arabian Internet and Communications Services Company (solutions) announces the results of the Ordinary General Assembly meeting (first meeting)

30 May 2024 08:02 AM

SOLUTIONS 7202 -1.92% 306.80 -6.00

Element List	Explanation
Introduction	Arabian Internet and Communications Services Company (solutions) is delighted to announce to its esteemed shareholders the results of the Ordinary General Assembly’s meeting (first meeting)
City and Location of the General Assembly's Meeting	solutions headquarters Olaya Street, Riyadh City. Through modern technology means via Tadawulaty Platform.
Date of the General Assembly's Meeting	2024-05-29 Corresponding to 1445-11-21
Time of the General Assembly’s Meeting	18:30
Percentage of Attending Shareholders	86.67%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	-Mr. Riyadh Muawad (Chairman of the Board) -Mr. Haithem AlFaraj (Deputy Chairman of the Board) -Mr. Mathad AlAjmi (Board Member) -Mr. Omar AlShabibi (Board Member) -Mr. Fahad AlAmoud (Board Member) -Mr. Abdulatif AlSeif (Board Member) -Mr. Mohammad AlAseeri (Board Member) -Mr. Mohammed AlAbbadi (Board Member) -Mr. Emad AlOudah (Board Member)
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	1- Mr. Riyadh Muawad (Executive Committee & Investment Committee Chairman). 2-Mr. Abdulatif AlSeif (Audit Committee Chairman). 3-Mr. Fahad AlAmoud (Nomination and Remuneration Committee Chairman).
Voting Results on the Items of the General Assembly's Meeting Agenda's	1. The Board of Directors’ report has been viewed and discussed for the fiscal year ending on 31-12-2023. 2. Approve the Auditor’s Report for the fiscal year ending on 31-12-2023 after discussing it. 3. The financial statements have been viewed and discussed for the year ending on 31-12-2023. 4. Approve discharging the liability of the Board of Directors members for the fiscal year ending on 31-12-2023. 5.Approve of the appointment of Ernst & Young (EY) as the company's auditor from among the candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the second, third quarter and the annual financial statements, of the fiscal year 2024, and the first quarter of the fiscal year 2025, and determine their fees in the amount of SAR 2,298,000 excluding the VAT. 6. Approve the Board of Directors’ recommendation to distribute cash dividends with a total amount of SAR 713,997,510 to the shareholders for the year 2023 at SAR 6 per share equivalent to 60% of the share par value, where the eligibility will be to the shareholders owning shares on the General Assembly Meeting date, and are registered in the Company’s share registry at the Depository Center (Edaa) at the end of the second trading day following the due date. The date of the dividends’ distribution will be on 26-6-2024. 7. Approve paying SAR 4,035,000 as remunerations to the Board of Directors and committee members for the fiscal year ending on 31-12-2023.

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