Al-Naqool Approves Financial Statements for 2021

The Board of Directors of Muhammad Hassan Al-Naqool Sons Company announced on Thursday the results of the extraordinary general assembly of the company which is represented in approving financial statements for the fiscal year ending on 31/12/2021, which was held at 06/15/2022.

Al-Naqool said in a statement to Tadawul on Thursday, that the general meeting was held through modern technology, with an attendance rate of 78.25%.

The Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1- Approval of the report of the Board of Directors for the financial year ending on December 31, 2021.

2- Approval of the company’s auditor’s report for the financial year ending on 12/31/2021.

3- Approval of the financial statements for the fiscal year ending on 31/12/2021.

4- Approval to absolve the members of the Board of Directors from liability for the financial year ending on 12/31/2021.

5- Approval of the amendment of the company’s address in the company’s articles of association.

6- Approval of the amendment of Article 1 of the company’s articles of association related to the type of company.

7- Approval of the amendment of Article 2 of the company’s articles of association, which is related to the name of the company.

8- Approval of the amendment of Article 3 of the company’s articles of association related to the company’s objectives.

9- Approval of the amendment of Article 4 of the company’s articles of association related to participation and ownership in companies.

10- Approval of the amendment of Article 7 of the company’s articles of association related to the company’s capital.

11- Approval of the amendment of Article 8 of the company’s articles of association related to subscription for shares.

12- Approval of the amendment of Article 9 of the Company’s Articles of Association related to the sale of undervalued shares.

13- Approval of the amendment of Article 10 of the company’s articles of association related to the issuance of shares.

14- Approval of adding a new Article No. 11 related to preferred shares.

15- Approval of adding a new Article No. 12 related to the company’s purchase, sale and mortgage of its shares.

16- Approval of the amendment of Article 11 related to the trading of shares.

17- Approval of the amendment of Article 12 related to the shareholders’ register.

18- Approval of the amendment of Article 13 related to the capital increase.

19- Approval of the amendment of Article 14 related to capital reduction.

20- Approval of the amendment of Article 15 related to the company’s management.

21- Approval of the amendment of Article 16 related to the termination of the board’s membership.

22- Approval of the amendment of Article 17 related to the vacant position in the board.

23- Approval of the amendment of Article 18 related to the powers of the board of directors

24- Approval of the amendment of Article 19 related to the remuneration of the members of the Board.

25- Approval of the amendment of Article 20 related to the chairman of the board of directors, the managing director and the secretary

26- Approval of the amendment of Article 21 related to the meetings of the board.

27- Approval of the amendment of Article 22, which is related to the quorum of the board meeting.

28- Approval of the amendment of Article 23 related to the deliberations of the Board.

29- Approval of the amendment of Article 24 related to the attendance of assemblies.

30- Approval of deleting Article No. 25 related to the transformational assembly.

31- Approval of deleting Article No. 26 related to the functions of the transformational assembly.

32- Approval of the amendment of Article 27 related to the powers of the ordinary general assembly.

33- Approval of the amendment of Article 28 related to the terms of reference of the extraordinary general assembly.

34- Approval of the amendment of Article 29 related to inviting assemblies.

35- Approval of the amendment of Article 31 related to the quorum of the ordinary general assembly meeting.

36- Approval of the amendment of Article 32 related to the quorum of the extraordinary general assembly.

37- Approval of the amendment of Article 33 related to voting in assemblies.

38- Approval of the amendment of Article 34 related to decisions of associations.

39- Approval of the amendment of Article 36 related to chairing associations and preparing minutes.

40- Approval of the amendment of Article 37 related to the formation of the committee.

41- Approval of the amendment of Article 39 related to the committee’s competencies.

42- Approval of the amendment of Article 40 related to the committee’s reports.

43- Approval of the amendment of Article 42 related to the auditor’s powers.

44- Approval of the amendment of Article 43 related to the fiscal year.

45- Approval of the amendment of Article 44 related to financial documents.

46- Approval of the amendment of Article 45 related to the distribution of profits.

47- Approval of the amendment of Article 46 related to the entitlement of profits.

48- Approval of adding a new Article No. 47 related to the distribution of dividends

49- Approval of the amendment of Article 47 related to the company’s losses.

50- Approval of the amendment of Article 48 related to the liability claim.

51- Approval of the amendment of Article 49 related to the termination of the company.

52- Approval of the amendment of Article 50 of the statute relating to the application of this statute.