Taqat Mineral Trading Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Taqat Mineral Trading Co. announces to its shareholders the results of the extraordinary general assembly meeting (first meeting), which was held at exactly (19:35) on Sunday, 12/24/1445 AH, corresponding to 06/30/2024 AD, at the company’s main headquarters located in the city of Riyadh - Al-Musfat neighborhood - Abi Nasr Al-Dabbas, through modern technological means (remotely) - using Tadawulati services; This is after the legal quorum is reached for the assembly to be held |
| City and Location of the General Assembly's Meeting | At the company’s main headquarters in Riyadh - Al-Misfat district - Abi Nasr Al-Dabbas, via modern technology (remotely) - using Tadawulati services. |
| Date of the General Assembly's Meeting | 2024-06-30 Corresponding to 1445-12-24 |
| Time of the General Assembly’s Meeting | 19:35 |
| Percentage of Attending Shareholders | 57.34% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Fahd Abdullah Abdulaziz Al-Khunaini - Chairman of the Board of Directors.
2. Mr. Ibrahim Abdul Rahman Muhammad Al-Awwad - Vice Chairman of the Board of Directors 3. Mr. Ali Muhammad Ali Al-Hudhaif - Managing Director and CEO 4. Mr. Abdul Rahman Muhammad Hamad Al Khathlan - Member of the Board of Directors. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Mr. Abdul Aziz Nasser Al-Saleh - Chairman of the Audit Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the company’s auditor’s report for the financial year ending on December 31, 2023 AD after discussing it
2. The Board of Directors’ report for the financial year ending on December 31, 2023 was reviewed and discussed. 3. The company’s financial statements for the fiscal year ending on December 31, 2023 were reviewed and discussed. 4. Approval to release the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023 AD. 5. Approval of the appointment of Yasser Zoman Al-Zoman, Khaled Fawzan Al-Fahad, and Zaher Abdullah Al-Hajjaj - Chartered Accountants and Auditors - as the company’s auditor from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements for the first and annual half of the fiscal year 2024 AD, at a fee amounting to (177,000) one hundred and seventy-seven thousand Saudi riyals. 6. Approval of delegating 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. 7. Approval to disburse an amount of (100,000) one hundred thousand riyals as a reward to members of the Board of Directors for the fiscal year ending on 12/31/2023 AD. 8. Approval of the works and contracts concluded between the company and Fahd Abdullah Al-Khunaini Real Estate Corporation, in which the Chairman of the Board of Directors (Mr. Fahd Abdullah Abdulaziz Al-Khunaini) has an indirect interest, and they are transactions (sales and lasting for a year), noting that the contract began in the year 2022 AD and the value of the transactions During the year 2022 AD, it is an amount of (14,490) riyals and transactions (purchases), and the value of transactions during the year 2022 AD is an amount of (773,124) riyals, and the value of the amount paid during the year 2022 AD is an amount of (758,634) riyals, and the final balance for the year 2022 AD is (zero) riyals, and these transactions take place in the context of business. Regular and in accordance with prevailing commercial terms and without any preferential terms 9. Approval of the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Fahd Abdullah Abdulaziz Al-Khunaini) in which he has a direct interest. These are transactions (purchases lasting one year), noting that the contract began in the year 2023 AD and the value of the transactions during the year 2023 AD is an amount (50,477,873) riyals, and the value of the amount paid during the year 2023 is (503,414) riyals, and the final balance for the year 2023 is (36,094,655) riyals. These transactions are carried out in the normal course of business and in accordance with the prevailing commercial conditions and without any preferential terms. 10. Approval of amending the work regulations of the Audit Committee. 11. Approval of amending Article (4) of the company’s bylaws related to the company’s purposes 12. Approval of amending Article (10) of the company’s bylaws related to the powers of the council 13. Approval of amending Article (12) of the company’s bylaws related to the powers of the president, deputy, managing director, and secretary. 14. Approval to add an article to the company’s bylaws No. (15) related to (the company’s purchase, sale, and mortgage of its shares) 15. Approval of adding an article to the company’s bylaws No. (18) related to (bonds and instruments). 16. Approval of amending the company’s bylaws in accordance with the new companies’ bylaws, and rearranging and numbering the articles of the bylaws; To comply with the proposed amendments |
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