Elm GA Approves SR232.8mln Profit Distribution for 2021

Elm Company announces the results of the Ordinary General Assembly meeting (first meeting), which was held at 8:00 PM on Monday 08/10/1443H corresponding to 09/05/2022G with attending shareholders’ percentage at 70.67%.

Voting results on the items of the General Assembly’s Meeting Agenda’s:

1- Approve the Board of Directors Report for the fiscal year ending on 31/12/2021.

2- Approve the financial statements for the fiscal year ending on 31/12/2021.

3- Approve the External Auditors Report for the financial year ending on 31/12/2021.

4- Approve discharging the Board members from any liabilities for the fiscal year ended 31/12/2021.

5- Approve paying an amount of (1,399,285.71) Riyals as remuneration to the Board members for the fiscal year ending on 31/12/2021.

6- Approve the appointment of Dr. Mohammed Al-amri &Co. as the external auditor, based on the recommendation of the Audit Committee; to examine, review and audit the financial statements for the second and third quarters as well as the annual statements for the fiscal year 2022 and for the first quarter of the year 2023, and to determine the auditor’s fees.

7- Approve the Board of Directors ’recommendation to distribute cash dividends to shareholders for the year ending on December 31, 2021, amounting to (232,800,000) Saudi riyals at (3) Riyals per share, which represents 30% of the nominal value of the eligible share (77,600,000).

Entitlement shall be for shareholders as at the end of the trading session coinciding with the meeting of the Ordinary General Assembly who are registered in Elm’s share registry at the Depository Centre at the end of the second trading day following the due date. Dividend distribution will be on Sunday 21/10/1443H corresponding to 22/05/2022G

8- Approve delegating the Board of Directors to distribute interim dividends on a biannual / quarterly basis for the fiscal year 2022.