Alhokair GA agrees to business dealings and contracts made with related parties

Fawaz Abdulaziz Alhokair Co. (“Alhokair” or the “Company”) announced on Thursday the results of the Ordinary General Assembly meeting (First Meeting), which was held on Wednesday 28/09/2022 through modern technology.
The legal quorum of shareholders representing at least 50% of the share capital was achieved. The percentage of attending shareholders is 72.44%.
The Results of voting on the assembly’s agenda:
1. Approval of the Board of Directors Report for the fiscal year ended on 31/03/2022
2. Approval of the Annual audited financial statements for the fiscal year ended on 31/03/2022
3. Approval of the External Auditor Report for the fiscal year ended on 31/03/2022
4. Approval of releasing members of the Board of Directors from liabilities for their performance during the fiscal year ending on 31/03/2022
5. Approval of paying an amount of SR1,800,000 as remuneration to the members of the Board of Directors for the fiscal year ended on 31/03/2022
6. Approval of business dealings and contracts that took place between the Company and Arabian Centres Company in which the following Board members have an indirect interest in: Fawaz Bin Abdulaziz Al-Hokair, Abdul Majeed Bin Abdulaziz Al-Hokair, Omar Bin Abdulaziz Almohammadi and Mohamad Rafic Mourad. These dealings and contracts relate to real estate rental payments, in the amount of SR424,146,097 for the fiscal year ending on March 31, 2022. It should also be noted that these transactions are carried out on a commercial basis (there are no preferential terms).
7. Approval of business dealings and contracts that took place between the Company and Saudi FAS Holding Company in which the following Borad members have an indirect interest in: Fawaz Bin Abdulaziz Al-Hokair, Abdul Majeed Bin Abdulaziz Al-Hokair, Omar Bin Abdulaziz Almohammadi, Abdul Majeed Bin Abdullah Al-Basri and Mohamad Rafic Mourad. These dealings and contracts relate to Transfer of balance due from disposal subsidiary, bearing in mind that the amount of transactions for the fiscal year ending on March 31, 2022 amounted to SR75,000,000, and it should also be noted that these transactions are carried out on a commercial basis. (There are no preferential terms).
8. Approval of business dealings and contracts that took place between the Company and Saudi FAS Holding Company in which the following Board members have an indirect interest in: Fawaz Bin Abdulaziz Al-Hokair, Abdul Majeed Bin Abdulaziz Al-Hokair, Omar Bin Abdulaziz Almohammadi, Abdul Majeed Bin Abdullah Al-Basri and Mohamad Rafic Mourad. These dealings and contracts relate to Expenses paid on behalf of Company, bearing in mind that the amount of transactions for the fiscal year ending on March 31, 2022 amounted to SR8,825,525, and it should also be noted that these transactions are carried out on a commercial basis. (There are no preferential terms).
9. Approval of business dealings and contracts that took place between the Company and the Egyptian Centers for Real Estate Development Company in which the following Board members have an indirect interest in: Fawaz Bin Abdulaziz Al-Hokair, Abdul Majeed Bin Abdulaziz Al-Hokair. These dealings and contracts relate to real estate rental payments, in the amount of SR5,984,195 for the fiscal year ending on March 31, 2022. It should also be noted that these transactions are carried out on a commercial basis (there are no preferential terms).
10. Approval of business dealings and contracts that took place between the Company and Hagen Ltd in which the following Board members have an indirect interest in: Fawaz Bin Abdulaziz Al-Hokair, Abdul Majeed Bin Abdulaziz Al-Hokair. These dealings and contracts relate to printing and advertising services, in the amount of SR4,577,100 for the fiscal year ending on March 31, 2022. It should also be noted that these transactions are carried out on a commercial basis (there are no preferential terms).
11. Approval of business dealings and contracts that took place between the Company and Al Farida Commercial Agencies Company in which the following Board member have an indirect interest in: Abdul Majeed Bin Abdulaziz Al-Hokair. These dealings and contracts relate to business and services, in the amount of SR3,793,249 for the fiscal year ending on March 31, 2022. It should also be noted that these transactions are carried out on a commercial basis (there are no preferential terms).
12. Approval of the participation of Board Member Abdul Majeed Bin Abdulaziz Al-Hokair in a competing activity.
13. Approval of delegating to the Board of Directors the authorization powers of the General Assembly stipulated in paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval by the General Assembly or until the end of the delegated Board of Director’s session, whichever is earlier, in accordance with the conditions contained in the controls and procedures. The regulations issued in implementation of the Companies Law for listed Joint Stock Companies.