Al-Omran GA approves cash dividends distribution of SR4,5 mln for 2021

Al-Omran Industrial Trading announced the results of the Ordinary General Assembly meeting and approves the board of directors’ recommendation to distribute cash dividends to shareholders for the fiscal year ending on 12/31/2021 in the amount of SR4,500,000.

Since the first meeting was not held due to the lack of the necessary quorum, the second meeting was held one hour after the first meeting. The attendance rate during the second meeting was (39.88%) of the company’s total capital

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

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

2- Approval on the auditor’s report for the year ending on December 31, 2021 AD

3- Approval on the company’s consolidated financial statements for the year ending on December 31, 2021 AD

4- Approval on appointing an auditor for the company (AlKharashi & Co. Certified Accountants And Auditors – mazars) from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the (second, third and fourth quarters) and annual quarters of the year 2022 AD, and the first quarter of the fiscal year 2023 AD, and determine his fees.

5- Approval on the board of directors’ recommendation to distribute cash dividends to shareholders for the fiscal year ending on 12/31/2021 AD in the amount of 4,500,000 riyals at 0.75 riyal per share, equivalent to 7.5% of the nominal value of the share, provided that the eligibility for profits is for the shareholders who own the shares at the end of the trading day The holding of the general assembly of the company and those registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, bearing in mind that the dividend distribution date will be determined later.

6- Approval for the disbursement of 300,000 riyals as a bonus to members of the Board of Directors for the fiscal year ending on December 31, 2021 AD.

7- Approval on the business and contracts that took place between the company and Abaad Real Estate Investment Company, which belong to the members of the board of directors, Mr.: Muhammad Omran Al-Omran, Mr.: Nasser Muhammad bin Omran, and Mr.: Abdul Rahman Muhammad bin Omran has an indirect interest in it, which is (finance) where the transactions were in 2021 AD amounted to 667,000 riyals without preferential conditions.

8- Approval on the business and contracts that took place between the company and Abaad Real Estate Investment Company, which belong to the members of the board of directors, Mr.: Muhammad Omran Al-Omran, Mr.: Nasser Muhammad bin Omran, and Mr.: Abdul Rahman Muhammad bin Omran, an indirect interest in it, which is (the company’s staff accommodation rents and warehouses) where it was Transactions in 2021 amounted to 895,000 riyals without preferential terms.

9- Approval on the business and contracts that took place between the company and Abaad Real Estate Investment Company, which belong to the members of the board of directors, Mr.: Muhammad Omran Al-Omran, Mr.: Nasser Muhammad bin Omran, and Mr.: Abdul Rahman Muhammad bin Omran has an indirect interest in them, which is (acting expenses) where the transactions were in 2021, it amounted to 1,764,948 riyals without preferential terms.

10- Approval on absolve the members of the board of directors from liability for the year ending on December 31, 2021 AD

11- Approval on electing members of the Board of Directors for the new session of the Board, which starts from 18/9/2022 and ends on 17/9/2025 for a period of three years.

Where the following gentlemen were elected:

1- Mr. Muhammad Imran Al-Omran

2- Mr. Nasser Mohammed bin Imran

3- Mr. Abdul Rahman Muhammad bin Imran

4- Mr. Abdullah Abdulaziz Al-Ghadeer

5- Mr. Fahad Saad Al-Huwaimel

12- Approval on the formation of a review committee, defining its tasks, its work controls, and rewarding its members for the new term starting from 18/9/2022 and ending on 17/9/2025, who are:

– Mr. Fahd Saad Al-Huwaimel.

– Mr. Youssef Muhammad Al-Omran.

– Mr. Saleh Abdullah Al-Munif.