Sadr Logistics Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Sadr Logistics Company announces the results of the Ordinary General Assembly Meeting (the first meeting) which was held at 7:30 PM on Tuesday June 11, 2024, corresponding to 05-12-1445 through modern technology methods. |
| City and Location of the General Assembly's Meeting | The company's main headquarters in Riyadh, Al-Yasmeen District, Anas Bin Malik Road, the meeting was held remotely through modern technology and electronic voting. |
| Date of the General Assembly's Meeting | 2024-06-11 Corresponding to 1445-12-05 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 25.93% |
| 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- Mr. Muhammad Abdullah Al-Samaani (Chairman of the Board of Directors) 2- Mr. Bandar Muhammad Al-Samaani (Vice Chairman of the Board of Directors - Managing Director) 3- Eng. Khaled Sulaiman Al-Mudayfer (Independent Member) 4- Mr. Tariq Saad Al-Tuwaijri (Independent Member) 5- Mr. Khaled Abdulaziz Al-Bakry (Independent Member) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | - A representative of the Audit Committee was attended by Mr. Yazid bin Hussam Al-Hayyaf President of the Committee.
- A representative of the Remuneration and Nominations Committee was attended by Eng. Khaled Suleiman Al-Mudayfer, President of the Committee. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | All agenda items were approved as follows:
1-It was View and discuss the Board of Directors' report for the financial year ending 31/12/2023. 2-It was approved on the company's auditor's report for the fiscal year ending 31/12/2023 and discuss. 3-It was View and discuss the financial statements for the fiscal year ending 31/12/2023. 4-It was approved to absolve the members of the Board of Directors from liability for the fiscal year ending 31/12/2023. 5-It was approved to disburse an amount of 650,000 riyals as a bonus For members of the Board of Directors for the fiscal year ending 31/12/2023 6-It was approved on the Board of Directors’ recommendation not to distribute cash dividends to shareholders for the fiscal year ending on 12/31/2023 AD, to strengthen the company’s financial position and support the company’s upcoming expansions and projects. 7- It was approved to the appointment of the office Maham Professional Services from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the quarter (second, third and annual) of the fiscal year 2024 AD, and the first quarter of the fiscal year 2025 AD and determine his fees. 8-It was approved on amending the conflict-of-interest policy. 9-It was approved on amending the disclosure and transparency policy and procedures. 10-It was approved on amending the policy, standards and procedures for membership in the Board of Directors and the emerging committees. 11-It was approved on amending the work regulations of the Remuneration and Nominations Committee. 12-It was approved on amending the work regulations of the Audit Committee. 13-It was approved on amending the governance regulations. 14-It was approved on adopting the remuneration policy for members of the Council and committees. |
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