AMAK GA authorizes BOD to distribute interim profits for 2022

The Board of Directors of Almasane Alkobra Mining Co, AMAK is pleased to invite the shareholders to participate and vote in the Extraordinary general assembly meeting (the first meeting), which is scheduled to be held at 6:30 on Sunday 27/11/1443H, corresponding to 26/06/2022G, through modern technology by using Tadawulaty system.

General Assembly Meeting Agenda:

1-Vote on the Board of Directors’ report for the fiscal year ended 31 December 2021 (attached).

2- Vote on the Auditor’s report for the fiscal year ended 31 December 2021 (attached).

3- Vote on the Audited financial statements for the fiscal year ended 31 December 2021 (attached).

4-Vote on absolving the Board members from liabilities for their activities pertain to management of the Company for the fiscal year ended 31 December 2021.

5-Vote on the appointment and determining fees of the external auditor for the Company from among the candidates on recommendation of the Audit Committee to examine, review and audit the Company’s financial statements for the second, third quarters and annual fiscal year of 2022, and the first quarter of fiscal year 2023 G.

6-Vote on the disbursement total amount of 2 million and nine hundred thousand Saudi riyals (2,900,000) as a bonus to the members of the Board of Directors for the fiscal year ended 31/12/2021.

7-Vote on the businesses that will be concluded between the Company and Najran Cement Company For the year 2022 in the expected amount of Three hundred thousand (300,000) Saudi riyals,for one year to sell cement, in which the Chairman of the Board of Directors, Engr. Mohammed Aballala, member of the Board of Directors, Engr. Ayman Al-Shibl and member of the Board of Directors, Mr. Abdulsalam Aldraibi, have direct interest in it, with same conditions and prices that Company follows with its other customers.(Attached)

8-vote on the related transactions that will take place between the company and the Najran Water Institution for the year 2022 in the expected amount of two hundred thousand Saudi riyals (200,000),for one year to sell water, in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it, with same conditions and prices that Company follows with its other customers.(Attached).

9- Voting on related transactions between the company and Arab Commercial Enterprises for Travel for the year 2022 in the expected amount of SAR (2,500,000) 2 million and five hundred thousand Saudi Riyals , for one year ,for travel services tickets and accommodation , in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it, with same conditions and prices that Company follows with its other customers. (Attached)

10-Voting on the related transactions that will take place between the company and the Najran Water Institution for the year 2021, in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it. During the year 2021, the value of the business amounted to fifty-three thousand One hundred thirty Saudi riyals (53, 130) for one year to sell water, and under prevailing commercial conditions. (attached)

11-Voting on the related transactions that will take place between the company and Arab Commercial Enterprises for Travel for the year 2021, for one year ,for travel services tickets and accommodation in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it. During the year 2021, the value of the business amounted to SAR 3,100,085 Three million hundred thousand and eighty five Saudi Riyals under the prevailing commercial conditions. (attached).

12-Vote on delegation of powers to the Board of Directors as stipulated in Paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval of The Assembly General or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the regulatory rules and procedures issued pursuant to the Companies Law ‘’ Listed joint stock companies’’ .

13-Vote on authorizing the Board of Directors to distribute interim dividends to shareholders on semi-annual or quarterly basis for the fiscal year 2022, and to determine the maturity and disbursement date as per the rules and regulations of the Company Law in line with Company’s financial position, cash flows, expansion, and investment plans.

14-Vote on the amendment to article Two of the Bylaws concerning the Company’s name. (attached).

15-Vote on the amendment to article Twenty-Four (24) of the company’s Bylaws concerning the remuneration of the members of the Board of Directors. (attached)

16-Vote on the amendment to article Fifty (50) of the company’s Bylaws concerning profit distribution.(Attached)

17- Vote on amending the Company’s Governance Manual. (attached).