Tadweeer GA Amends Article of Bylaw related to Distribution of Profits

The Board of Directors of National Environmental Recycling Company “Tadweeer” announced on Sunday the results of the Extraordinary General Assembly (First Meeting which held on Thursday 25 August 2022 through the contemporary technology means in which the amendment of Article (47) of the TADWEEER By-Law (Distribution of Dividends) will be approved.
Voting Results on the Items of the General Assembly’s Meeting Agenda’s:
1. Approval of the Financial Statement of the year ending 31 December 2021.
2. Approval of the external auditor report for the year ending 31 December 2021.
3. Approval of the annual Board report for the year ending 31 December 2021.
4. Approval of the Audit Committee report for the year ending 31 December 2021.
5. Approval of absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2021.
6. Approval to assign Baker Tilly JFC Group an external auditor from the nominated offers based on the recommendation of the Audit Committee to audit the financial statement of the semi-annual and annual for the fiscal year ending on December 31, 2022, as well as determining their fees.
7. Approval of disburse an amount of SR180,000 as a reward for board members for the fiscal year 2021.
8. Approval of disburse an amount of SR35,000 as a reward for Audit Committee members for the fiscal year 2021.
9. Approval of disburse an additional amount of SR75,000 to the external auditors “ Al-Azm & Al-Sudairy & Al-Sheikh” for the fiscal year 2021, in return for his carrying out additional work.
10. Approval of the amendment of Article (2) of the TADWEEER By-Law related to (Company Name).
11. Approval of the amendment of Article (3) of the TADWEEER By-Law (Company Purpose).
12. Approval of the amendment of Article (7) of the TADWEEER By-Law (Company Capital).
13. Approval of the amendment of Article (8) of the TADWEEER By-Law (IPO).
14. Approval of the amendment of Article (14) of the TADWEEER By-Law (Shareholders Register).
15. Approval of the amendment of Article (19) of the TADWEEER By-Law (The vacant position in the Board of Directors).
16. Approval of the amendment of Article (20) of the TADWEEER By-Law (Board of Directors Authorities).
17. Approval of the amendment of Article (22) of the TADWEEER By-Law (Powers of the President, Vice President, Managing Director, and Secretary).
18. Approval of the amendment of Article (24) of the TADWEEER By-Law (Quorum of Board Meeting).
19. Approval of the amendment of Article (26) of the TADWEEER By-Law (Attendance of Assembly Meetings).
20. Approval of the amendment of Article (31) of the TADWEEER By-Law (Invitation for Assemblies).
21. Approval of the amendment of Article (32) of the TADWEEER By-Law (Assemblies Attendance Register).
22. Approval of the amendment of Article (35) of the TADWEEER By-Law (Voting in the Assemblies).
23. Approval of the amendment of Article (36) of the TADWEEER By-Law (Resolutions of the Assemblies).
24. Approval of the amendment of Article (39) of the TADWEEER By-Law (Committee Formation).
25. Approval of the amendment of Article (44) of the TADWEEER By-Law (Powers of the Auditor).
26. Approval of the amendment of Article (45) of the TADWEEER By-Law (Fiscal Year).
27. Approval of the amendment of Article (46) of the TADWEEER By-Law (Financial documents).
28. Approval of the amendment of Article (47) of the TADWEEER By-Law (Distribution of Dividends).
29. Approval of the amendment of Article (50) of the TADWEEER By-Law (Company losses).
30. Approval to add an article no. (26) to the TADWEEER By-Law, which is related to (Conflict of Interest).
31. Approval to add an article no. (43) to the TADWEEER By-Law, which is related to (Nominations and Remuneration Committee).
32. Approval to add an article no. (44) to the TADWEEER By-Law, which is related to (Board Committees).
33. Approval to delete an article no. (27) of TADWEEER By-Law, which is related to (Constituent Assembly).
34. Approval to delete an article no. (28) of TADWEEER By-Law, which is related to (Competences of the Constituent Assembly).
35. Approval to delete an article no. (49) of TADWEEER By-Law, which is related to (Dividend Distribution of Preferred Shares).
36. Approval of rearranging and numbering the articles of the TADWEEER By-Laws.