Mubasher TV
Contact Us Advertising   العربية

Zahrat Al Waha for Trading Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

OASIS 3007 -0.16% 31.90 -0.05
Element List Explanation
Introduction Zahra Al Waha Trading Co. announces the results of the Ordinary General Meeting, ( First Meeting )
City and Location of the General Assembly's Meeting The Ordinary General Assembly meeting was held remotely and through modern technology
Date of the General Assembly's Meeting 2020-04-19 Corresponding to 1441-08-26
Time of the General Assembly's Meeting 18:45
Percentage of Attending Shareholders 81.47
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees Members of the Board of Directors attended:

1- Mr. Ahmed Hamoud Ibrahim Altheyab Chairman of the Board of Directors

2 - Mr. Tariq Abdulrahman Saleh Al Sadhan Vice Chairman

3 - Mr. George Abdul Karim George Mousa Board Member and Chief Executive Officer

4 - Mr. Taha Mohamed Abdel Wahid Azhary Board Member

5- Mr. Ahmed Hassan Ahmed Ali 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 The presiding officers also attended the meeting

1- Chairman of the Audit Committee Mr. Tarek Abdel Rahman Saleh Al-Sadhan

2 - Chairman of the Nominations and Remuneration Committee Mr. Tariq Abdul Rahman Saleh Al Sadhan

Voting Results on the Items of the General Assembly's Meeting Agenda's 1. Approval of the Board of Directors’ Annual Report for the fiscal year ending on 31st December 2019.

2. Approval of the external auditor report for the year ending on 31st December 2019.

3. Approval of the financial statements of the Company for the year ending on 31st December 2019.

4. Approval of the appointment of KPMG Al Fozan & Partners Certified Public Accountants of an external auditor in accordance with the recommendation of the Audit Committee for the financial audit and review of the Company’s financial statements for the second, third, fourth, and 2020 year end, and the first quarter of 2021 and determining their fees.

5. Approval of the company's board of directors recommendation to distribute cash dividends for the second half of 2019, at seventy-five (75) halalas per share, representing 7.5% of the par value of the share, with a total of 11,250,000 riyals, representing 7.5% of the capital, and that To the shareholders of the company, provided that the shareholders are entitled to the shares at the end of trading on the day of the meeting and registered in the company’s shareholders ’register with the Edaa Center Company at the end of the second trading day following the due date. The date of the distribution of profits will be announced later.

6. Approval of the business and contracts concluded between the company and the Hana Food Industries Company, for which a member of the Board of Directors Mr. Ahmed Hammoud Ibrahim Altheyab has a direct and indirect interest in it, which is a contract for the sale of finished goods and (preforms) and plastic caps. For bottles of different sizes and weights, buying and selling raw materials, packaging and packaging for a year without discrimination or preferential conditions, the value of transactions during the year 2019 amounted to 95,730,068 riyals sales and the amount of 1,773,334 riyals purchases.

7. Approval of the business and contracts that will take place between the company and Hana Food Industries, for which a member of the Board of Directors Mr. Ahmed Hammoud Ibrahim Altheyab has a direct and indirect interest in it, bearing in mind that the deal will be a contract for the sale of finished products and (Preform) and the plastic caps for bottles of different sizes and weights, buying and selling raw materials, packaging and packaging for a year without discrimination or preferential conditions, in the amount of 100,000,000 riyals.

8. Approval of the discharge of the Board of Directors from the liability for their activities during the year 2019 until the date of this AGA meeting.

9. Approval of the amendment of the company's corporate governance regulations.

10. Approval of the disbursement of an amount of 300,000 riyals as a reward for independent board members for the fiscal year ending on December 31, 2019.

11. Approval of authorizing the Board of Directors to distribute interim dividends in half or quarterly terms for the fiscal year 2020.

12. Approval of delegating the Board of Directors the authority of the Ordinary General Assembly with the license mentioned 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 session, whichever is earlier, according to the conditions mentioned in the controls and procedures Regulatory issued in implementation of the corporate system for listed joint stock companies.

Comments