Elm GA Discusses BOD Recommendation to Distribute SR232.8 mln Dividends for 2021

The Board of Directors of Elm Company invited on Tuesday its shareholders to participate and vote in the Ordinary General Assembly Meeting (GA) (First Meeting) which scheduled to be held on 09.05.2022 at (08:00) PM , by means of modern technology.

General Assembly Meeting Agenda:

1. Voting on the Board of Directors Report for the fiscal year ending on 31.12.2021.
2. Voting on the financial statements for the fiscal year ending on 31.12.2021.
3. Voting on External Auditors Report for the financial year ending on 31.12.2021.
4. Voting on discharging the Board members from any liabilities for the fiscal year ended 31.12.2021.
5. Voting on paying an amount of (1,399,285.71) Riyals as remuneration to the Board members for the fiscal year ending on 31.12.2021.
6. Voting on the appointment of the external auditors of the company among the candidates based on the Audit Committee’s recommendation. The appointed auditors shall examine, review and audit the (first, second, third quarters and the annual financial statements of the fiscal year 2022 and the first quarter of 2023 along with determining his fees.
7. Voting on the Board of Directors ’recommendation to distribute cash dividends to shareholders for the year ending on December 31, 2021, amounting to (SR232,800,000) at a rate of (SR3) per share, which represents 30% of the book value of the share after deducting zakat, for the 77,600,000 shares due for dividends.) Eligibility for dividends to the Company’s shareholders who own shares at the end of the day of the GA meeting, and who are registered in the Company’s records at the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date, provided that the date of the distribution will be determined later.
8. Voting on delegating the Board of Directors to distribute interim dividends on a biannual / quarterly basis for the fiscal year 2022.

All shareholders who are registered on Tadawulaty will be able to remotely vote on the GA agenda items, which shall commence at 10:00 A.M on Thursday 05.05.2022 and continue until the end of the GA.

Eligibility for the attendance registration of the GA ends upon convening the GA. Eligibility for voting on the GA agenda items for the shareholders who attended ends upon the Counting Committee concluding the voting count.