Saudi Top for Trading Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

27 June 2024 08:05 AM

SAUDI TOP 9552 -11.68% 6.58 -0.87

Element List	Explanation
Introduction	Saudi Top Trading Company announces the results of the Ordinary General Assembly meeting (First Meeting), which was held at 18:30 on Wednesday 20/12/1445 corresponding to 26/06/2024 through modern technology after the quorum is complete for the validity of the Ordinary General Assembly meeting (first meeting)
City and Location of the General Assembly's Meeting	Through the use of Modern Technology from the Company's Headquarter in Riyadh
Date of the General Assembly's Meeting	2024-06-26 Corresponding to 1445-12-20
Time of the General Assembly’s Meeting	18:30
Percentage of Attending Shareholders	79,52%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The association meeting was attended by the following council members: Abdullah Mohammed Obaid AlAjmi (Chairman) Wahid Ahmed Jassas (Deputy Chairman) Omar Abdullah AlKharashi Nasser Ayed AlSubaie
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	Wahid Ahmed Jassas (Chairman of the Audit Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	1- Reviewing the Board of Directors’ report for the financial year ending on 12-31-2023 AD and discussing it. 2- Review the financial statements for the fiscal year ending on 12-31-2023 AD and discuss them. 3- Approval of the company’s auditor’s report for the financial year ending on 12-31-2023 AD after discussing it. 4- Approval to release the members of the Board of Directors from their liabilities for the fiscal year ending on 12-31-2023 AD. 5- Approval to disburse an amount of (419,000) Saudi riyals as a reward to members of the Board of Directors for the fiscal year ending on 12-31-2023 AD. 6- Approving the appointment of the company’s auditor from among the candidates based on the recommendation of the Audit Committee in order to examine, review and audit the financial statements for the semi-annual period ending on 06-30-2024 AD and the annual period for the financial year ending on 12-31-2024 AD and determining his fees after discussing them. 7- Approval of the works and contracts concluded between the company and the Yafel Plastic Factory, in which the Chairman of the Board of Directors, Abdullah Muhammad Obaid Al-Ajmi, has an indirect interest, which are industrial services (crushing and cleaning operations for raw materials) in the amount of (3,874,335) Saudi riyals. These transactions were completed at the normal market price. These transactions do not differ from other normal commercial transactions and do not contain any special conditions or preferential benefits 8- Approval of authorizing the Board of Directors to distribute interim dividends to shareholders on a semi- or quarterly basis for the financial year ending on 12-31-2024 AD. 9- Approval to delegate the authority of the Ordinary General Assembly to the Board of Directors with the license contained in Paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the conditions stated in the executive regulations. The corporate system for listed joint stock companies.

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