Herfy Foods GA announces Non-Approval to Terminate Chairman of BOD

The Board of Directors of Herfy Food Services Company announced on Tuesday the results of the Extraordinary General Assembly Meeting which was held in Riyadh – herfy Head Office by means of modern technology on Monday 28th March 2022 after reaching the quorum of the right attending.

The percentage of attending shareholders is %81.64.

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

All Items of the assembly were approved except two items, No. 15 & 16 were rejected According to the following:

1. Approval of the amendment of (Article 4) of the Company’s bylaws relating to (partnership and merger).

2. Approval of the amendment of (Article 8) of the Company’s bylaws relating to (premium shares).

3. Approval of the amendment of (Article 9) of the Company’s bylaws relating to (bonds).

4. Approval of the amendment of (Article 19) of the Company’s bylaws relating to (vacant position in the board).

5. Approval of the amendment of (Article 20) of the Company’s bylaws relating to (the board powers).

6. Approval of the amendment of (Article 21) of the Company’s bylaws relating to (the board chairman, Managing Director, and the secretary).

7. Approval of the amendment of (Article 23) of the Company’s bylaws relating to (the board meetings quorum and decisions).

8. Approval of the amendment of (Article 25) of the Company’s bylaws relating to (the board members remunerations).

9. Approval of the amendment of (Article 29) of the Company’s bylaws relating to (general assembly’s call for a meeting).

10. Approval of the amendment of (Article 31) of the Company’s bylaws relating to (quorum of the ordinary general assembly).

11. Approval of the amendment of the title of part five of the Company’s bylaws relating to (the company accounts and profits distribution) which will be part six (the company accounts and profits distribution).

12. Approval of the amendment of (Article 41) of the Company’s bylaws relating to (profits distribution).

13. Approval of the Board of Directors’ decision to appoint Eng. Hussein Ali Al-Asmari – an independent member of the Board of Directors – as a member of the Audit Committee, starting from 21/06/2021 until the end of the current committee’s period on 30/04/2024, instead of the previous committee member MR: Isam Majed Al Muhaidib – Non Executive , the appointment will start from the date of the recommendation decision issued on 21/06/2021, and this appointment accompany in accordance with the work regulations of the Audit Committee.

14. Approval to terminate a member of the board of directors, Mr. Khaled Ahmed Al-Saeed, in accordance with Article (90) of the Companies Law, based on the submitted request from one of the shareholders who own more than (5%) of the company’s capital.

15. Non-Approval to terminate the Chairman of the board of directors, Eng./ Moataz Qusai Al-Azzawi, in accordance with Article (90) of the Companies Law, based on the submitted request from one of the shareholders who own more than (5%) of the company’s capital.

16. Non-Approval to terminate a member of the board of directors, Eng. / Ahmed Mohamed El-faleh, in accordance with Article (90) of the Companies Law, based on the submitted request from one of the shareholders who own more than (5%) of the company’s capital.