“Paper Home” Ga approves authorizing BOD to distribute interim dividends for 2024

Paper Home Company called for its shareholders about the results of the ordinary general assembly meeting (first meeting), which was held on Wednesday, June 5, where the items included approving the authorization of the Board of Directors to distribute interim dividends (quarterly – semi-annually) for the year 2024 AD.

The rest of the voting results on the Assembly’s agenda were as follows:

1. Approval of the auditor’s report for the fiscal year ending on 12/31/2023 AD
2. The financial statements for the fiscal year ending on 12/31/2023 were reviewed
3. Approval to discharge the members of the Board of Directors from their liabilities for the fiscal year ending on 12/31/2023 AD.
4. The Board of Directors’ report for the financial year ending on 12/31/2023 was reviewed.
5. Approval of disbursing an amount of (450,000) riyals as a reward to members of the Board of Directors for the year ending on 12/31/2023 AD.
6. Approval of the appointment of Ibrahim Ahmed Al-Bassam & Partners Company, Certified Accountants and Auditors, as the company’s external auditor for the fiscal year ending on 12-31-2024 AD.
7. Approval of the business and contracts concluded between the company and Al-Kharj Investment Company (one person company) wholly owned by the Chairman of the Board of Directors (Mr. Yacoub Youssef Al-Maghrabi), in which he has an indirect interest, which is (payment of the balance due to the related party) according to prevailing market conditions. In the amount of (4,669,574 riyals) (as a debtor).
8. Approval of the business and contracts concluded between the company and Al-Kharj Investment Company (one person company) wholly owned by the Chairman of the Board of Directors (Mr. Yaqoub Youssef Al-Maghrabi), in which he has an indirect interest, which is (financing to support operational operations in the factory) according to prevailing market conditions. In the amount of (790,000 riyals) (as a creditor).
9. Approval of the works and contracts concluded between the company and the Chairman of the Board of Directors (Yaqoub Youssef Al-Maghrabi), in which he has a direct interest, which is (renting the factory land owned by him) according to prevailing market conditions in an amount of (300,000) riyals (as a creditor).