NCLE Assembly Approves BOD Recommendation to Distribute SR34.4 mln Profits

National Company for Learning & Education (NCLE) announced on Monday the results of the Ordinary General Assembly meeting (First Meeting) which held on Sunday after the quorum was secured. The percentage of attending shareholders is %71.86.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

• Approving the Board of Directors’ Report for the fiscal year ended on 31 August 2021.
• Approving the Company’s Auditor’s Report for the fiscal year ended on 31 August 2021.
• Approving the financial statements for the fiscal year ended on 31 August 2021
• Approving to appoint KPMG Al Fozan & Partners as the Company’s auditor among the candidates to examine, review and audit the financial statements for the third quarter of the fiscal year 2021/2022, the fiscal year ending on 31 August 2022, and the first and second quarters of the fiscal year 2022/2023.
• Approving Board of Directors’ recommendation to distribute cash dividends to shareholders for the fiscal year ended 31 August 2021, with a total amount of SR(34,400,000) at SR(0.80) per share, equivalent to 8% of the company’s share capital. Provided that the eligibility of the shareholders who own the shares at the end of the trading session of the day of the assembly meeting and are registered in the company’s shareholders ’register with the Edaa Center at the end of the second trading day following the maturity date, and the dividend distribution will be starting from Thursday corresponding to 20.01.2022.
• Approving the discharge of the Board of Directors’ members liability for the fiscal year ended 31.08.2021.
• Approving on delegating the Board of Directors to distribute interim dividends in a semi-annually or quarterly manner for the fiscal year ending on 31 August 2022.
• Approving on delegating the Board of Directors with the authority of the Ordinary General Assembly relating to the permission mentioned in paragraph (1) of Article (71) of the Companies Law, for one year from the consent date of the Ordinary General Assembly or until the end of the Board of Directors session whichever is earlier, in accordance with the regulatory rules and procedures issued and pursuant to the companies law relating to listed joint stock companies.