Al Aseel GA to discuss authorizing BOD for 2022 interim profit distribution

The Board of Directors of Thob Al-Aseel Company is pleased to invite the shareholders to participate and vote Regular General Assembly meeting of company (first meeting), which is scheduled to be held, God willing, in the city of Riyadh at the company’s headquarter at exactly 8:30 pm on Monday, 26/06/2022 corresponding to 27/ 11/1443 AH, through modern technology methods

General Assembly Meeting Agenda:

1) Voting on the report of the Board of Directors for the fiscal year ending on December 31, 2021 AD

2) Voting on the company’s auditor’s report for the fiscal year ending on December 31, 2021 AD.

3) Voting on the financial statements for the fiscal year ending on December 31, 2021 AD

4) Voting to absolve the members of the board of directors from liability for the fiscal year ending on December 31, 2021 AD.

5) Voting on appointing an auditor for the company from among the candidates according to the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third and fourth quarters of the fiscal year 2022 AD and the first quarter of the fiscal year 2023 AD, and to determine their fees.

6) Vote on disbursing an amount of (1,302,000) riyals as a reward to the members of the Board of Directors for the fiscal year ending on December 31, 2021 AD.

7) Vote on authorizing the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2022 AD.

8) Voting on the business and contracts that took place between the company and the heirs of Abdullah Al-Jadaei, which belong to the member of the board of directors, Mr. Faisal bin Abdullah Al-Jadaei, the member of the board of directors, Mr. Muhammad bin Abdullah Al-Jadaei, and the member of the board of directors, Mr. Abdul Rahman bin Abdullah Al-Jadaei, have an indirect interest represented in With shops and warehouse lease contracts without preferential terms, note that the value of transactions for the fiscal year ending on 31/12/2021 AD is (1,122,210) riyals.

9) Voting on the business and contracts that took place between Al-Jedaei Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the heirs of Abdullah Al-Jedaei, which belong to the member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jadaei, the member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jedei, and the member of the Board of Directors, Mr. Abdul Rahman Bin Abdullah Al-Jadaei has an indirect interest represented in a warehouse lease contract without preferential terms, knowing that the value of the transactions for the fiscal year ending on 31/12/2021 AD is (60,000) riyals.

10) Voting on the business and contracts that took place between Al-Jedaei Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the member of the board of directors, Mr. Muhammad bin Abdullah Al-Jadaei, who has a direct interest in the rental contracts of exhibitions in Madinah without preferential conditions, knowing that the value of transactions for the fiscal year ending on 31/12/2021 AD is (300,000) riyals.

11) Voting on the business and contracts that took place between the company and Al-Jedaie Furniture Company, which belong to the member of the board of directors, Mr. Faisal bin Abdullah Al-Jadaei, the member of the board of directors, Mr. Muhammad bin Abdullah Al-Jadaei, and the member of the board of directors, Mr. Abdul Rahman bin Abdullah Al-Jadaei, have an indirect interest, and it is a contract Technical support service without preferential conditions, knowing that the value of transactions for the fiscal year ending on 31/12/2021 AD is (150,000) riyals.

12) Vote on amending the work regulations of the Audit Committee(attached).

13) Vote on amending the bylaws of the Nominations and Remunerations Committee(attached).

14) Vote on amending the remuneration policies of the members of the Board of Directors and the committees emanating from the Board and the Executive Management(attached).

15) Vote on the policy of standards and procedures for membership in the Board of Directors(attached).

16) Vote on the criteria for the board members’ competition for the company’s business or one of its branches of activity(attached).

Shareholders registered on the Tadawulati website will be able to vote remotely on the assembly’s items through the (electronic voting) service, which will start at ten o’clock

From Wednesday morning, 23/11/1443 AH corresponding to 22/06/2022 AD, until the end of the meeting time, and registration and voting in Tadawulati services will be available and free for all shareholders 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