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Naseej International Trading Co. Announces the Results of the Ordinary General Assembly Meeting (Second meeting)

NASEEJ 1213 -0.38% 39.35 -0.15
Element List Explanation
Introduction Naseej International Trading Company announces the results of the Ordinary General Assembly meeting (the second meeting) due to non-achieving the legal quorum in the first meeting, where the second meeting was held an hour after the first meeting.
City and Location of the General Assembly's Meeting Via modern technology means from the Company Head Office - Jeddah Industrial City – Phase 4 - Factory (1).
Date of the General Assembly's Meeting 2021-05-06 Corresponding to 1442-09-24
Time of the General Assembly's Meeting 22:30
Percentage of Attending Shareholders 13.97%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The meeting was attended by the following Board Members:

Mr. Saleh Nasser AL Sorayai (Chairman)

Eng. Mansour Saleh Al Kharboush (Deputy Chairman)

Dr. Waiel Saad Al Rashid

Eng. Essam Abdullatif Al Mojalid

Mr. Hamdan Ali Matar

Mr. Abdulkarim Ibrahim Al Nafie

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf Mr. Hamdan Ali Matar (Audit Committee Chairman (

Mr. Abdulkarim Ibrahim Al Nafie) Chairman of the Nominations and Remuneration Committee and Executive Committee)

Voting Results on the Items of the General Assembly's Meeting Agenda's 1. Approval of the Board of Directors' report for the fiscal year ending on 31/12/2020.

2. Approval of the auditor’s report on the Company’s financial statements for the fiscal year ending on 31/12/2020.

3. Approval of the financial statements for the fiscal year ending on 31/12/2020.

4. Approval of the appointing (El Sayed El Ayouty & Co. Certified Public Accountants) as the external auditor for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the (second, third, and fourth) quarter and annual financial statements, of the fiscal year 2021, and the first quarter of the fiscal year 2022, and the determination of the auditor’s fees.

5. Approval of the clearance for the Members of the Board of Directors from their liabilities for the fiscal year ending on 31 December 2020.

6. Approval of the transactions and contracts that will be concluded between the Company and Al Sorayai Group for Industrial Investment, in which the Chairman of the Board Mr. Saleh Nasser AL Sorayai (Non-Executive) has a direct interest in it. These transactions and contracts are about purchasing and supplying raw materials to the factories. Noting that the transactions for the last year 2020 amounted to (SAR 3,085,185), (There are no preferential terms in the contracts)

7. Approval of the transactions and contracts that will be concluded between the Company and the Saudi Carpet Accessories Manufacturing Company Ltd. (Matex), in which the Chairman of the Board Mr. Saleh Nasser AL Sorayai (Non-Executive) has a direct interest in it. These transactions and contracts are about purchasing and supplying raw materials to the factories. Noting that the transactions for the last year 2020 amounted to ( 11,454,199 SAR ), (There are no preferential terms in the contracts).

8. Approval of the transactions and contracts that will be concluded between the Company and Al-Hikma Real Estate Development Company, in which the Chairman of the Board Mr. Saleh Nasser AL Sorayai (Non-Executive) has a direct interest in it. These transactions and contracts are about lease contracts for showrooms, warehouses and offices owned by Al-Hikma Company. Noting that the transactions for the last year 2020 amounted to ( 2,152,500 SAR), (There are no preferential terms in the contracts).

9. Approval of the delegating to the Board of Directors the authorization powers of the General Assembly stipulated in paragraph (1) of Article 71 of the Companies Law, for a period of one year starting from the date of the approval by 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 Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.

10. Approval of the amendment of the Audit Committee Charter.

11. Approval of the election of the Board Members from among the candidates for the next session, commencing from 16 July 2021, for a term of three years, ending on 15 July 2024. They are as follows:

1- Dr. Wael Saad AL Rashid

2- Mr. Nasser Saleh AlSorayai

3- Eng. Mansour Saleh Al Kharboush

4- Eng. Abdullah Ali Aldubaikhi

5- Dr. Ahmed Sirag Khogeer

6- Mr. Rasheed Sulaiman AlRasheed

7- Eng. Abdullah Yahia Fitaihi

12. Approval of the formation of the Audit Committee, and the determination of its duties, work regulations and remuneration of its members for the new term, starting from 16 July 202, until the end of the term on 15 July 2024. The following are the names of the candidates:

A. Eng. Mansour Saleh Al Kharboush

B. Mr. Khalid Abdulaziz S Alhoshan

C. Mr. Abdullah Salim Al Haiqi

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