Mekdam Holding Group announces the results of the AGM and EGM. The meeting was held on 28/03/2023 and the following resolution were approved

Ordinary General Assembly: 

1.       Heard and approved the report of the Board of Directors on the Company’s activities, financial position for the year ended 31 December 2022 and the business plan for 2023.

2.       Heard and approved the report of the External Auditors on the balance sheet and on the accounts submitted by the Board of Directors.

3.       Discussed and approved the financial statements for the year ended 31 December 2022.

4.       Approved the proposal of the Board of Directors recommendation to distribute 35% cash dividends, in addition to bonus shares at the rate of 7 shares for every 68 shares (equivalent to approximately 0.1029 shares per share).

5.       Released from liability the members of the Board of Directors and fixing their fees for the financial year ended 31 December 2022.

6.       Approved of the auditor's report on the requirements of Article (24) of the Corporate Governance Instructions.

7.       Approved the Corporate Governance Report.

8.       Appointed Russell Bedford an External Auditor for the Company for the financial year 2023 and fixed the fees.

 

Extraordinary General Assembly:

1.       Approved the increase of the capital by the number of Bonus shares approved by the AGM’s resolution equal to 7,000,000 shares.

2.       Authorized the Chairman of Board of Directors to complete all the necessary procedures to amend the Articles of Association to reflect the foregoing, including the right to attend and sign all the needed documents at the Ministry of justice and Ministry of Commerce and trade and any other official governmental entities.

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