Al Abdullatif Industrial Investment Co. announces to Invites its Shareholders to Attend the Ordinary General Assembly Meeting ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Al-Abdullatif Industrial Investment Company is pleased to invite the shareholders to participate and vote in the Eighteenth Ordinary General Assembly meeting, which is scheduled to be held, God willing, at 06:30 pm on Tuesday 02-12-1444 AH corresponding to 20-06-2023 AD, by modern communication technologies using Tadawulaty system. |
| City and Location of the General Assembly's Meeting | Riyad- Second Industrial City. Meeting will conduct remotely |
| URL for the Meeting Location | http://www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2023-06-20 Corresponding to 1444-12-02 |
| Time of the General Assembly's Meeting | 20:30 |
| Attendance Eligibility | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. |
| Quorum for Convening the General Assembly's Meeting | The Ordinary General Assembly meeting is valid if attended by shareholders representing at least quarter of the capital. If the quorum required for holding this meeting is not present, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting will be valid regardless the number of capital represented by the shareholders attended. |
| General Assembly Meeting Agenda | 1. Viewing and discussing the report of the Board of Directors for the year ended in 31/12/2022
2. Voting and discussing the Auditors’ report for the year ending in 31 of December 2022.
3.Viewing and discussing the audited financial statements for the year ended 31 December 2022.
4. Voting the appointment of the company's auditor from the candidates on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements of the second, third and annual quarters of fiscal year 2023, the first quarter of fiscal year 2024, and determine his fees. (attached)
5. Voting on the delegation of the Board of Directors with the authority of the Ordinary General Assembly with the license mentioned in paragraph (1) of Article Twenty-Seven 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 session of the authorized Board of Directors, whichever is earlier, in accordance with the conditions contained in the Executive Bylaws of the Companies Law for Listed Joint Stock Companies.
6.Voting on the works and contracts to be concluded between the Company and Al-Abdul-Latif Furniture Company, which are for the Board Member Mr. Suliman Omar Al-Abdul-Latif, Mr. Abdul Latif Omar Al-Abdul-Latif and Mr. Fahad Al-Abdullatif. Which are mainly wholesale sales of carpet and moquette products. The nature of the relationship is not different from dealings with ordinary debtors and commercial creditors and has no special advantages or conditions taking in account that these transactions are only valid for one year and has to be renewed annually by the general assembly. The value of these transactions during 2022 amounted to SAR (40,151) thousand. (attached)
7. Voting on paying the Audit Committee members remunerations for the fiscal year ends in 31-12-2022 according to the remuneration policy of the Board of Directors, its committees and executive management and they are: Mr. Majed Abdul Rahman Al-Osailan (15000 riyals), Mr. Mohammad Hamdan Al-Sorayai (15000 riyals), Mr. Saleh Hassan Al-Sheikh (20000 riyals), and Mr. Abdul Aziz Mohammad Al-Suwaidan (20000 riyals). (attached)
8.Voting on paying the Nominations and Remunerations committee members remunerations for the fiscal year ends in 31-12-2022 according to the remuneration policy of the Board of Directors, its committees and executive management and they are Mr. Hisham bin Abdul Rahman Al-Askar (15000 riyals) And Engineer, Samir Mahmoud Haddad (15000 riyals). As for Mr. Suleiman bin Omar Al-Abdul Latif (Member) he waived his membership remuneration for this committee. (attached)
9.Voting on paying the Risk Management committee members remunerations for the fiscal year ends in 31-12-2022 According to the remuneration policy of the Board of Directors, its committees and executive management and they are Mr. Hisham bin Abdul Rahman Al-Askar (15000), Mr. Majed Abdul Rahman Al-Osailan (15000 riyals), and Mr. Mohammad Hamdan Al-Sorayai (15000 riyals). (attached)
10.Voting on paying the Executive Committee members remunerations for the fiscal year ends in 31-12-2022 According to the remuneration policy of the Board of Directors, its committees and executive management and they are Mr. Samir Mahmoud Haddad (15000 riyals). As for Mr. Abdul Latif bin Omar Al Abdul Latif and Mr. Fahd bin Omar Al-Abdullatif, they have waived their membership remunerations for this committee. (attached)
11. Vote on disbursement of SAR 100,000 to four members of the Board of Directors as a bonus for the fiscal year ended 31/12/2022 (400,000) SAR (Mr./Majid bin Abdulrahman Al-Osailan, Engineer/Samir bin Mahmoud Haddad, Mr./Mohammed bin Hamdan Al-Sorayai and Mr./Hisham bin Abdulrahman Al-Askar) The remaining three members, Mr. Suleiman Omar Al-Abdul-Latif, Mr. Abdul Latif Omar Al-Abdul-Latif and Mr. Fahad Omar Al-Abdul-Latif, waived their remuneration for their board membership for the year ended 31/12/2022. (attached).
12. Voting on absolve the Board of Directors members of liability for the fiscal year ended on 31/12/2022. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any) | Shareholders registered in the Tadawulaty services will be able to vote remotely on the terms of the Association from (01:00) A.M on (Friday) 27/11/1444 H, 16/06/2023 until the assembly time is done. Registration and voting will be available on Tadawulaty services site, which will be available and free of charge to all shareholders using the following link (www.tadawulaty.com.sa) |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly's Meeting Ends upon the Convenience of the General Assembly's Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | To answer your enquiries about GAM, please contact the investor Relation Department on the phone number (0112652200 - ext 289-287-290-288) or e-mail:
Or through chatting in the meeting after the completion of the meeting items |
| Additional Information | Remote voting will be satisfied |
| Attached Documents | |
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