United Wire Factories General Assembly Approves Election of 7 Members to BOD

United Wire Factories company Board of Directors announced on Wednesday the results of the14th Ordinary General Meeting (first meeting). The percentage of attending shareholders is 53.16%.

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

1. Approval on the Board of Directors report for the fiscal year ended December 31, 2021

2. Approval on the auditor’s report for the fiscal year ended December 31, 2021

3. Approval on the financial statements for the fiscal year ended December 31, 2021

4. Approval on the appointment of Messrs. Office / Baker Tilly MKM among the candidates based on the recommendation of the Audit Committee to examine, review and audit the financial statements for the second quarter, third quarter, and annual of the fiscal year 2022 and the first quarter of the fiscal year 2023 and determine their fees.

5. Approval on the business and contracts that will take place between the company and “Rumooz Al-Fakherah For Trading Company”, where two of the Board members (Mr. Mohammad Rasheed Al-Rasheed) and (Mr. Saleh Rasheed Al-Rasheed), (related parties), have indirect interest in it, for the year 2022. where The total value of the transactions done in the year 2021 was (SR9,452,931), representing sales made on a normal commercial basis and with non-preferential terms.

6. Approval on the discharge of the members of the Board of Directors for the fiscal year ending on 31.12.2021.

7. Approval on disbursing an amount of SR900,000 as a remuneration for the members of the Board of Directors, for the fiscal year ending on 31.12.2021.

8. Approval on the amendment of Article (8 – Paragraph 1 – b) of the remuneration policy for the Board of Directors, its committees and the executive management of the company, related to (the remuneration of members of the Board of Directors).

9. Approval of on authorizing the Board of Directors to distribute interim dividends on a semi-annual / quarterly basis for the fiscal year 2022

10. Approval on disbursing an amount of SR175,000 as a remuneration for the members of the audit committee, for the fiscal year ending on 31.12.2021.

11. Approval on the formation of the Audit Committee for the next (fifth) session, which will begin on 10/4/2022 for a period of three years ending on 9/4/2025, and approves its tasks, rules of work and remunerations for its members as follows:

– Khaled Muhammad AL Khwaiter (Out of BOD)

-Youssef Abdullah Almutlaq. (Independent)

12- Approving the election of the Board of Directors, among the candidates for the next (fifth) session, which begins on 4/10/2022 for a period of three (3) years, ending on 9/4/2025 as follows:

Faisal Musaed Alhokair.

Khaled Mohammed Abdullah Al-Khuwaiter

Rashid Rashid Saad bin Awain

Youssef Abdullah Ibrahim Al-Mutlaq

Turki Muhammad Fahid Al-Quraini

Khaled Saad Abdul Rahman Al Kanhal

Abdullah Saad Abdullah Al-Dosari