‎“Tihama” GA rejects business and contracts concluded with ‎related parties

Tihama Advertising and Public Relations Company announced the results of the Ordinary General Assembly (second meeting) held yesterday, October 9, 2023.

Voting results:

– The financial statements for the year ending March 31, 2023 were reviewed and discussed.

– The Board of Directors’ report for the financial year ending March 31, 2023 was reviewed.

– Not approving the company’s auditor’s report for the financial year ending on March 31, 2023 after discussing it.

– Approval of the appointment of the company’s auditor (Ibrahim Ahmed Al-Bassam & Partners PKF Office) from among the candidates based on the recommendation of the Audit Committee to examine, review and audit the financial statements for the quarter (second and third) and annual of the fiscal year ending on March 31, 2024. And the first quarter of the fiscal year ending on March 31, 2025, and determining his fees

– Not approving the work and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely / Abdel. Aziz Al-Suwailem, which is financing for a letter of guarantee issued by the company on behalf of the Integrated Production Company for Audiovisual Media Production in the amount of 83,950 riyals without conditions or preferential benefits.

– Not approving the works and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely/Abdullah. Aziz Al-Suwailem, which is an invoice for the provision of advertising and administrative services by the Integrated Production Company for audio-visual media production for the benefit of Tihama Advertising, Public Relations and Marketing Company in the amount of 115,245 riyals.

– Not approving the works and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely/Abdullah. Aziz Al-Suwailem, which is financing for the issuance of a letter of guarantee issued by Tihama Advertising, Public Relations and Marketing Company on behalf of the Integrated Production Company for Audiovisual Media Production in the amount of 293,653 riyals.

– Not approving the works and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely/Abdullah. Aziz Al-Suwailem, which is financing for the issuance of a letter of guarantee issued by Tihama Advertising, Public Relations and Marketing Company on behalf of the Integrated Production Company for Audiovisual Media Production in the amount of 98,498 riyals.

– Not approving the works and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely/Abdullah. Al-Aziz Al-Suwailem, which is a batch of funding granted by Tihama Advertising, Public Relations and Marketing Company to the Integrated Production Company for Audiovisual Media Production in the amount of 5,000 riyals.

– Not approving the works and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely/Abdullah. Aziz Al-Suwailem, which is a transfer to issue bank checks by the Integrated Production Company for Audiovisual Media Production on behalf of Tihama Education Company (a subsidiary) in the amount of 1,647,900 riyals.

– Not approving the work and contracts that took place during the fiscal year ending on March 31, 2023 between Tihama Advertising, Public Relations and Marketing Company and the Integrated Production Company for Audiovisual Media Production (a subsidiary) in which the member of the Board of Directors has an indirect interest, namely / Abdel. Al-Aziz Al-Suwailem, which is the balance of financing granted by Tihama Advertising, Public Relations and Marketing Company to the Integrated Production Company for Audiovisual Media Production as of March 31, 2023 AD, (operations since 2021 prior to the Board of Directors member entering the Council and still continuing) in the amount of 15,606,058 riyals. .