Tabuk Agricultural GA disapproves 2021 financial statements

Tabuk Agricultural Development Company announces the results of the general assembly meeting (2nd Meeting), which was held on Sunday evening on 27/11/1443 H corresponding to 26/06/2022G at exactly 07:30 PM , Due to lack of a quorum in the first meeting, the second meeting was held one hour after the scheduled time for the first meeting with the shares represented in the meeting, – where the attendance rate was 7.9% of shares representing the capital according to the Company’s bylaw, via modern technology.

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

1) Not approve the financial statements for the fiscal year ending on 31/12/2021.

2) Not approve the Company’s auditor’s report for the fiscal year ending on 31/12/2021.

3) Not approve the Board of Directors’ Report for the fiscal year ending on 31/12/2021.

4) Not approve the discharging the members of the Board of Directors for the fiscal year ending on 31/12/2021.

5) Approved the appointment of “Ibrahim Ahmed Albassam & Co.“ as external auditor of the Company from among the candidates recommended by the Audit Committee to examine to review and audit the financial statements for the second quarter, third quarter and the annual financial statements for the fiscal year 2022 and first quarter of the fiscal year 2023 along with determining their fees.

6) Not approve the updating of the Policy for disbursing remunerations and entitlements to members of the Board of Directors and its committees.

Additional Information:

The attendance rate required for the first meeting is 25%, while the attendance rate was 7.9%, and the second meeting was held an hour after the first meeting, and the attendance rate for the second meeting was 7.9%, knowing that the attendance rate required for the second meeting is those who attended from among the shareholders according to the Company’s bylaw.