Alwasail GA Discusses BOD Recommendation to Distribute 12.5 mln Profits for 2021

The Board of Directors of Alwasail Industrial Company invited the shareholders to participate and vote in the Extraordinary General Assembly Meeting (First Meeting), which is scheduled to be held, God willing, on Tuesday 17.05.2022 via modern technology means provided by Tadawulaty.

General Assembly Meeting Agenda:

1. Voting on the external auditor report for the financial year ending 31.12.2021.

2. Voting on the financial statements for the fiscal year ending 31.12.2021.

3. Voting on the report of the Board of Directors for the financial year ending 31.12.2021.

4. Voting on the board of directors’ recommendation to distribute cash dividends in the amount of SR (12,500,000) to shareholders for the fiscal year ending 31.12.2021, SR(0.50) per share, which represents 5% of the total capital, provided that the eligibility is for the shareholders who own the shares at the end of trading day of the general assembly meeting for those registered in the company’s shareholders resisting with the Securities Depository Centre (Edaa) at the end of the second trading day following the due date, provided that the dividend distribution date will be announced later.

5. Vote to absolve the chairman and members of the board of directors from liability in connection with their management of the company’s business for the year ending 31.12.2021.

6. Vote to disburse an amount of (SR420,000) as a bonus to the members of the Board of Directors for the fiscal year ending 31.12.2021.

7. Voting on the business and contracts that took place between the company and (Ldaien Company Ltd.), in which a member of the Board of Directors (Mr.Abdul Qader bin Abdullah Al-Mushaiq) has an indirect interest, which is (crunching damaged materials for the benefit of the company) at an amount of SR(61,875,60) . For one year, renewable annually (without preferential terms).

8. Voting on the works and contracts that were made between the company and (Alwasail Construction Company Ltd.), in which a member of the Board of Directors (Mr. Saleh bin Abdullah Al-Mushaiq) has an indirect interest, which is (supply of products and plastic materials for the company) in the amount SR(10,000,00) for one year, renewable annually (without preferential terms).

9. To vote on amending Article (2nd ) of the company’s articles of association, related to (company name).

10. To vote on amending Article (25th) of the company’s articles of association, related to (the remuneration of members of the board of directors).

11. Voting on amending Article (41st ) of the company’s articles of association, related to (distribution of profits).

12. Vote on delegating the Board of Directors to the authority of the Ordinary General Assembly with the authorization contained in Paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the delegated Board of Directors’ session, whichever is earlier, in accordance with the conditions contained in the issued regulatory controls and procedures. In implementation of the Companies Law for Listed Joint Stock Companies.

The shareholders registered in Tadawulaty services may vote on the items of the General Assembly agenda online starting from 10:00 AM on Friday 13.05.2022 until the closure of the meeting. Registration and voting shall be available free of charge in Tadawulaty services for all shareholders by using the following link: www.tadawulaty.com.sa

Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes.