Al Aseel GA authorizes BOD to distribute interim profits for 2022, Oks business deals

Thob Al-Aseel Company announces the results of the Ordinary General Assembly meeting (the first meeting), which was held at 8:30 pm on Sunday 27/11/1443H corresponding to 06/26/2022 G through the E-technology methods, with percentage of attending shareholders was 53.15%.

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

1) Approving the report of the Board of Directors for the fiscal year ending on December 31, 2021 G

2) Approving the company auditor’s report for the fiscal year ending on December 31, 2021G

3) Approving the financial statements for the fiscal year ending on December 31, 2021G

4) Approving the Clearance of Liability of the members of the Board of Directors for the fiscal year ending on December 31, 2021G.

5) Approving the appointment of PWC as an auditor 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 of the fiscal year 2022G and the first quarter of the fiscal year 2023 G and determine their fees.

6) Approving the distribution of (SR 1,302,000) as a bonus to the members of the Board of Directors for the fiscal year ending on December 31, 2021G.

7) Approval on authorizing the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2022 G.

8) Approving the business and contracts that were held between the company and the heirs of Mr. Abdullah Al-Jeda’i, which belong to the member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jedei, the member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jeda’i, and the member of the Board of Directors, Mr. Abdul Rahman bin Abdullah Al-Jadaei, who have an indirect interest in the form of leasing contracts of the Shops and warehouses without preferential conditions, noting that the value of transactions for the fiscal year ending on 31/12/2021 G is (SR 1,122.210).

9) Approval of the business and contracts that were held between Al-Jedaie Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the heirs of Abdullah Al-Jeda’i, which belong to the member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jedei, the member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jedei, and the member of the Board of Directors, Mr. Abdul Rahman Bin Abdullah Al-Jadaie who has an indirect interest represented in the lease contracts of shops and warehouses without preferential terms, noting that the value of the transactions for the fiscal year ending on 31/12/2021 G is SR (60,000)

10) Approval of the business and contracts that were held between Al-Jedaei Textiles Company (a subsidiary of Thobe Al-Aseel Company) and a member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jeda’i, who has a direct interest in the rental contracts of exhibitions in Madinah without preferential terms, noting that the value of transactions for the fiscal year ending on 31/ 12/2021 G is SR (300,000).

11) Approval of the business and contracts that were held between the company and Al-Jedaie Furniture Company, which belong to a member of the board of directors, Mr. Faisal bin Abdullah Al-Jadaei, a member of the board of directors, Mr. Muhammad bin Abdullah Al-Jadaei, and a member of the board of directors, Mr. Abdul Rahman bin Abdullah Al-Jedaei, who have an indirect interest, which is a technical support service contract Without preferential conditions, noting that the value of transactions for the fiscal year ending on 31/12/2021 G is SR (150,000).

12) Approval of the amendment of the regulations of the Audit Committee.

13) Approval of the amendment of the regulations of the Nomination and Remuneration Committee.

14) Approval of the amendment of the remuneration policies of the members of the Board of Directors and the committees emanating from the Board and the Executive Management.

15) Approval of the policy of standards and procedures for membership in the Board of Directors.

16) Approval of the criteria for the board members’ competition for the company’s business or one of its branches activity