Al-Jouf GA approves business and contracts concluded with ‎related parties

The Board of Directors of Al-Jouf Mineral Water Bottling Company announced the results of the Extraordinary General Assembly meeting (the first meeting), which was held at 19:10 pm on Monday, 06/19/2023 AD.

Voting results:

– The financial statements for the fiscal year ending on 12/31/2022 AD were reviewed and discussed.

– The report of the Board of Directors for the fiscal year ending on 12/31/2022 AD was reviewed and discussed.

– Approval of the discharge of the members of the Board of Directors from their liability for the fiscal year ending on 12/31/2022 AD.

– Approval of the auditor’s report for the fiscal year ending on 12/31/2022 AD.

– Approving the appointment of 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 AD and determine his fees.

– Approval of the business and contracts that took place between the company and the Development Business Company Limited, a holding company, in which the members of the Board of Directors, Ashry Saad Al-Ashry and Saad Sunitan Hudayb, have an indirect interest in it, which is (actual expenses and supplies and there are no preferential terms) in a debit amount 3,928,530 riyals for the year 2022 AD.

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

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

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

– Approval of the business and contracts that took place between the company and the Development Business Company Limited, in which board members Ashry Saad Al-Ashry and Saad Sunitan Hudayb have an indirect interest, which is (financing and there are no preferential conditions) with a credit amount of 8,016,619 riyals for the year 2022 AD ..

– Approving the amendment of the company’s bylaws in line with the new companies’ by laws.