National Industrialization Co. Announces the Results of the 21st Extraordinary General Assembly Meeting, (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | National Industrialization Co. Announces the Results of the 21st Extraordinary General Assembly Meeting, (Second Meeting) |
| City and Location of the General Assembly's Meeting | The Head Office in Riyadh city – remotely via modern technology |
| Date of the General Assembly's Meeting | 2024-04-18 Corresponding to 1445-10-09 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 42.39% |
| 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:
1- Eng. Mubarak Abdullah Al Khafrah (Chairman). 2- Eng. Talal Ibrahim Al Maiman (Vice Chairman). 3- Mr. Musaab Sulaiman Al Muhaidib. 4- Mr. Saud Sulaiman Al Juhani. 5- Eng. Abdulrahman Sulaiman Al Sayyari. 6- Mr. Bader Ali Al Dakhil. 7- Eng. Mutlaq Hamad Al Morished. 8- Mr. Fahad Abdulrahman Al Mushil. 9- Mr. Ahmed Naja Al Theabi Didn’t Attend: 1- Eng. Abdullatif Khalifah Al Melhem. |
| 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 Committees’ Chairmen:
1. Eng. Mubarak Abdullah Al Khafrah (Chairman of Executive Committee) 2. Mr. Sami Abdulaziz Al Sheneiber (Chairman of Audit Committee) 3. Eng. Abdulrahman Sulaiman Al Sayyari (Chairman of Nomination and Renumeration Committee) 4. Mr. Saud Sulaiman Al Juhani (Chairman of Risk and Governance Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Review and discuss the Board’s report for the fiscal year ending on 31/12/2023.
2. Review and discuss the Company’s financial statements for the fiscal year ending on 31/12/2023. 3. approve the auditor’s report on the Company’s accounts for the fiscal year ending on 31/12/2023 after discussion. 4. Approve the appointment of the external auditor, based on the recommendation of the Audit Committee; to examine, review and audit the financial statements for the second and third quarters as well as the annual statements for the fiscal year 2024 and for the first quarter of the year 2025, and to determine the auditor’s fees. 5. Approve the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary company) and Non-Woven Industrial Fabrics Company, which is a subsidiary of Al-Khafrah Holding Company in which the Chairman of the Board Eng. Mubarak Abdullah Al-Khafrah has a direct interest. The transactions include various purchase orders for polypropylene materials. The total purchase during the fiscal year 2023 amounted to SAR 13,903,993.13 and there are no preferential conditions (attached). 6. Approve the amendments of the Article of Association of the company in compliance with the new Company’s Law issued on 01/12/1443 H corresponding to 30/06/2022 Georgian. 7. Approve the amendment of Article (2) of the company’s bylaws, related to the Activities of the company. 8. Approve the amendment of Article (14) of the company’s bylaws, related to the Meetings of the Board of Managers (Attached). 9. approve deleting Article (17) of the company’s bylaws, related to the Audit Committee (Attached). 10. Approve the amendment of Article (19) of the company’s bylaws, related to the Company’s Accounts and Distribution of Dividends (Attached). 11. Approve the amendments of the Audit Committee Charter. 12. Approve the amendments of the Nomination & Remuneration Committee Charter. 13. Approve amendments of the Board membership policy and procedures 14. Voting on the amendments of the Remuneration Policy. 15. Approve on paying an amount of SAR 3,500,000 as remuneration to the Board members for the fiscal year ending on 31/12/2023. 16. Approve the discharge of the members of the Board of Directors for the fiscal year ended 31/12/2023. 17. Approve transferring the balance of (905,328,800) Saudi riyals from the statutory reserve, as shown in the financial statements for the fiscal year ending on December 31, 2023, to the retained earnings account. |
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