Ataa Educational discusses BOD recommendation to distribute SAR 46.3 mln profits for the year ending July 31, 2023

The Board of Directors of Ataa Educational Company invited the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held, at exactly 06:30 pm on monody 29-01-2024, via modern technology means, the terms include voting on the Board of Directors’ recommendation to distribute dividends to shareholders for the financial year ending on 07-31-2023 , with a total value of 46.29 million riyals, with each share being (1.10) one Saudi riyal, at a rate of (11%) of the paid-up capital, according to Eligibility shall be for shareholders who own shares at the end of trading on the day of the General Assembly and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the entitlement date. The date of dividend disbursement will also be determined later.

The rest of the General Assembly Meeting Agenda are as follows:

– Review and discuss the Board of Directors’ report for the financial year ending on 07/31/2023

– Voting on the company’s auditor’s report for the fiscal year ending on 07/31/2023 AD.

– Review and discuss the company’s financial statements for the fiscal year ending on 07/31/2023.

– Voting on the board of directors’ recommendation to distribute dividends to shareholders for the fiscal year ending on 07/31/2021 AD, with a total value of (46,295,936) Forty-six million two hundred and ninety-five thousand nine hundred and thirty-six Saudi riyals, so that the share of each share is one (1.10) Saudi riyal at a rate of (11%) of the paid-up capital, provided that the eligibility is for the shareholders who own shares at the end of trading on the day of the general assembly and who are registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the eligibility date, and the date of dividend payment will be determined later.

– Voting on the business and contracts that took place between the company and Dr. Ahmed bin Nasser Al-Mutib, in which the Board of Directors, Ms. Farah bent Ahmed Al-Mutib, and Ms.Reem Al-mutib has an indirect interest in them, which are lease contracts for the Middle East and Al-Feker complexes. With a total value of (14,088,333)Saudi riyals without preferential conditions. (attached)

– Voting to absolve the Board of Directors’ members from liability for the fiscal year ending on 07/31/2023 AD.

– Voting to disburse the amount of (1,331,507) Saudi riyals as a bonus to the members of the Board of Directors at the rate of (150,000) Saudi riyals for each member, for the fiscal year ending on 07/31/2023 AD.

– Vote on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee; This is for examining, reviewing and auditing the financial statements for the (second, third and fourth) quarters and the annual of the fiscal year ending on 07/31/2024 and for the first quarter of the financial year ending on 07/31/2025AD and determining his fees.

– Voting on the Board’s resolution to appoint (Khaled Naser ALmoamar) as a (Non – Executive) board member starting from the date of his appointment on 24/07/2023. to complete the Board term until the end of the current term on 07/11/2024., succeeding the former member (Thinain Bin Thinain and Non – Executive). (CV attached)

– Voting on the Board’s resolution to appoint (Reem Ahmed bin Nasser Al-Mutib) as a (Non – Executive) board member starting from the date of his appointment on 24/07/2023. to complete the Board term until the end of the current term on 07/11/2024., succeeding the former member (Ahmed bin Nasser Al-Mutib and Non – Executive).

Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations have the right to attend. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee.