Saudi Paper Manufacturing Co. Announces the Results of the Ordinary General Assembly Meeting, ( First 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 Ordinary General Assembly meeting, which was held at 10:30 pm on Monday 14 Ramadan 1442 AH corresponding to April 26, 2021 AD, in Dammam at the company's headquarters through modern technology, and the attendance rate reached 39.28% After completing the quorum required for the validity of the assembly to convene, the results of the voting came as follows: |
| City and Location of the General Assembly's Meeting | By means of modern technology from the company's headquarters in Dammam |
| Date of the General Assembly's Meeting | 2021-04-26 Corresponding to 1442-09-14 |
| Time of the General Assembly's Meeting | 22:30 |
| Percentage of Attending Shareholders | 39.28% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Fahd Al-Dawood (Chairman of the Board of Directors).
2. Mr. Sulaiman Al-Zabin (Vice Chairman of the Board of Directors). 3. Engineer / Abdullah Al-Enezi (Managing Director). 4. Engineer / Abdullah Al-Kharashi. 5. Dr. Mohammed Al-Badr. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Sulaiman Al-Zabin (Chairman of the Audit Committee).
Engineer / Abdullah Al-Kharashi (Chairman of the Nomination and Remuneration Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approval of the company's auditor's report for the fiscal year ending on December 31, 2020
2- Approval of the appointment of the company's auditor, in order to examine, review and audit the financial statements for the first, second, third, fourth and annual quarters of the fiscal year 2021 and the first quarter of 2022, which are Al-Bassam Company and its CPA partners. 3- Approval of the company's financial statements for the fiscal year ending on December 31, 2020. 4- Non-approval of the Board of Directors' report for the fiscal year ending on December 31, 2020. 5- Approving the election of members of the Board of Directors from among the candidates for the next session, which starts from 4/27-2021 AD and ends on 4/26-2024 AD, for a period of three years, and they are: - Abdullah Al-Kharashi Abdul Aziz Al-Mishaal Abdul Rahman Al-Mishaal Abdul Majeed Al-Abd Al-Wahhab Bashar Aba Al-Khail Hani Al-Zaid Wael Al Bassam 6- Failure to agree to disbursing an amount of (810,000) riyals as a bonus to the members of the Board of Directors for the fiscal year ending 12-31-2021 AD. 7- Approval of disbursing an amount of (681,000) riyals as a bonus for committee members for the fiscal year ending 12-31-2021 AD. 8- Approval of disbursing an amount of (1,193,200) riyals as a reward for members of the executive management for the fiscal year ending 12-31-2021 AD. 9- Approval of voting on the business and contracts that have been concluded between the company and the East Gas Company, in which the Chairman of the Board of Directors Fahd bin Muhammad Al-Daoud has an indirect interest, which is a gas service contract amounting to 7.18 million riyals in the year 2020 AD, according to the prevailing commercial terms. |
| Additional Information | no more |
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