Aljouf Mineral GA approves transactions & contracts concluded with related parties

Aljouf Mineral Water Bottling Co. announced to its shareholders the results of the Ordinary General Assembly meeting (the first meeting), which was held at 19:10 pm on Monday, corresponding to 19.06.2023

Voting results on the items of the general assembly’s meeting agenda’s are as follows:

1- The financial statements for the fiscal year ending on December 31, 2022 were reviewed and discussed.

2- The report of the Board of Directors for the fiscal year ending on December 31, 2022 was reviewed and discussed.

3- Approving the release of the members of the Board of Directors from liability for the fiscal year ending on December 31, 2022.

4- Approval of the auditor’s report for the fiscal year ending on December 31, 2022.

5- Approving the appointment of the United Accountants (RSM) as an auditor for the company’s accounts from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the semi-annual and annual financial statements for the fiscal year 2023 and determine his fees.

6- Approving the business and contracts concluded between the company and the Development Business Company Limited, a holding company, in which the members of the Board of Directors, Mr. Ashry Saad Al Ashry and Mr. Saad Sunitan Hudayb, have an indirect interest, which is (actual expenses and supplies and there are no preferential terms) with a debit amount of SAR 3,928,530 for the year 2022.

7- Approval of the business and contracts that took place between the company and Weshah Al-Watan Company, the branch of Al-Rai Environmental Services Company, in which a member of the Board of Directors, Mr. Ashry Saad Al-Ashry, has an indirect interest, which is (acting expenses and salaries and there are no preferential conditions) with a debit amount of SAR 952,002 for the year 2022 .

8- Approval of the business and contracts concluded between the company and Al-Rai Environmental Services Company, in which a member of the Board of Directors, Mr. Ashry Saad Al-Ashry, has an indirect interest, which is (financing and there are no preferential conditions) with a credit amount of SAR 1,495,109 for the year 2021.

9- Approval of the business and contracts that took place between the company and the Kassab Holding Company, in which the members of the Board of Directors, Mr. Ashry Saad Al Ashry and Mr. Saad Sunitan Hudayb, have an indirect interest, which is (deputy expenses and there are no preferential conditions) with a credit amount of SAR 17,425 for the year 2022.

10- Approval of the business and contracts concluded between the company and the Development Works Company Limited, in which the members of the Board of Directors, Mr. Ashry Saad Al Ashry and Mr. Saad Sunitan Hudayb, have an indirect interest, which is (financing and there are no preferential conditions) with a credit amount of SAR 8,016,619 for the year 2022.

11- Approving the amendment of the company’s bylaws in line with the new companies’ bylaws.