Arab Sea Company Plans to Transfer SAR 16.5 Million from Statutory Reserves to Retained Earnings

The Board of Directors of Arab Sea Company extends an invitation to esteemed shareholders to actively participate and cast their votes in the upcoming Ordinary General Assembly meeting (the first meeting). The meeting is scheduled to be conducted through modern technology and is set to take place at 7:00 p.m. on Thursday, December 28, 2023.

Agenda for the Meeting:

-Vote on the proposed amendment to the Audit Committee Charter.

-Vote on the proposed amendment to the Remuneration and Nomination Committee Charter.

-Vote on the proposed amendment to the Board of Directors Membership Policies and Standards.

-Vote on the proposed amendment to the Remuneration Policy for Board of Directors and Committees Members and Executive Management.

-Vote on the transfer of the statutory reserve balance, amounting to SAR 16,501,562, as reported in the financial statements for the year ending December 31, 2022, to the retained earnings account.