Baazeem GA discusses BOD recommendation to distribute SR17.7 mln dividends for 2021

The Board of Directors of Baazeem Trading Company invited its shareholders to attend the Ordinary General Assembly Meeting (First Meeting) scheduled at on Monday 09.05.2021 through 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 statement for the fiscal year ending on 31.12.2020

3- Voting on the auditor’s report for the fiscal year ending on December 31, 2021

4- Voting on the appointment of external auditor from among the candidates recommended by the Audit Committee to audit the company’s annual financial statements for the second, third quarters and annual financial statements for the fiscal year 2022 and the first quarter of the fiscal year 2023

5- Voting on the Board of Director’s recommendation to distribute cash dividends amounted to SR (17,718,750) to shareholders for the year 2020, with the value of (SR 1.75) per share and at rate of (17.5%) of the capital, provided that the shareholders who own the shares are eligible by the end of the day of the general assembly meeting and those registered in the company’s shareholders register at the Securities Depository Centre Company (Edaa) are traded at the end of the second trading day following the maturity date. the distribution date to be announced later

6- Voting on the business and contracts that will be concluded between the company and Baazeem Trading Corporation in the State of Qatar owned by the Chairman of the Board of Directors Mr. Salem bin Saleh Baazeem (Non-Executive Member) and in which he has a direct interest. It is a set of commercial transactions, noting that the value of the contract for the year 2021 (SR7,127,857) Seven million one hundred and twenty-seven thousand eight hundred and fifty-seven riyals. Knowing that these transactions are carried out on commercial basis and without preferential conditions.

7- Voting on paying an amount of SR2,680,000 as remuneration to the Board members for the fiscal year ending on 31.12.2021

8- Voting on the clearance of the members of the Board of Directors for the fiscal year ending on 31.12.2021

9- Vote on authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2022

The shareholders registered in Tadawulaty Services can vote remotely on items of agenda of the general assembly as of 06.05.2022 to end of time of holding the general assembly meeting

Shareholders Registered in the company’s Shareholders Registry in the Depository Center at the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations