Development Works Food Co. Announces the Results of the Ordinary General Assembly Meeting, (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Development Works Food Co. is pleased to announce the results of the Ordinary General Assembly meeting (second meeting), which was held at 20:45 pm on Sunday 29-11-1444 corresponding to 18-06-2023, an hour after the date of the first meeting (which was It is supposed to be held at 19:45) noting that the first meeting did not take place because the legal quorum was not completed according to the system (where the attendance rate was 11.75%) and the attendance rate for the second meeting was 11.76%, noting that according to the company’s articles of association, the second meeting will be valid regardless of the number of shares represented in it. The assembly meeting was chaired by Mr. Anas Saleh Al-Amoud, Vice Chairman of the Board of Directors. |
| City and Location of the General Assembly's Meeting | Company's main headquarters - the city of Riyadh and through the means of modern technology |
| Date of the General Assembly's Meeting | 2023-06-18 Corresponding to 1444-11-29 |
| Time of the General Assembly's Meeting | 20:45 |
| Percentage of Attending Shareholders | 11.76% |
| 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. Ashry Saad Al Ashry - Chairman - Mr. Anas Salih Al-Amoud - Vice President - Mr. Ibrahim Nasir Al-Shimamri - Board Member - Mr. Yazid Khalid Al-Tamimi - Board Member - Mr. Bashar Abdel Aziz Aba Al-Khail - Board Member - Mr. Abdullah Khalid Al-Fadli - 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 meeting was attended by the following heads of committees and members:
- Mr. Musa Abdullah Al-Fawzan - Head of the Audit Committee - Mr. Mohammed Abdullah Al Mubarak - Audit Committee Member - Mr. Anas Salih Al-Amoud - Audit Committee Member & Head of the Nominations and Remunerations Committee - Mr. Ibrahim Nasier Al-Shimamri - Nominations and Remunerations Committee Member - Mr. Yazid Khalid Al-Tamimi - Nominations and Remunerations Committee Member |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1) The financial statements for the fiscal year ending on 31/12/2022 were reviewed and discussed.
2) The report of the Board of Directors for the fiscal year ending on 31/12/2022 was reviewed and discussed. 3) Approving the release of the members of the Board of Directors from liability for the fiscal year ending on 31/12/2022. 4) Approval of the auditor's report for the fiscal year ending on 31/12/2022. 5) Approval of the audit committee report for the fiscal year ending on 31/12/2022. 6) Approving the appointment of the United Accountants (RSM) as an auditor for the company’s accounts from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third, fourth and annual quarters of the fiscal year 2023 AD and the first quarter of the year 2024 AD and determine his fees. 7) Not approving the payment of (939,000) riyals as remuneration and allowances for members of the Board of Directors and its committees for the fiscal year ending on 31-12-2022. |
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