Abo Moati GA approves BOD recommendation to distribute SR10 mln dividends for year ending March 31, 2022

Abdullah Saad Abo Moati Company announced on Wednesday the Results of the Ordinary General Assembly Meeting, (second meeting) which was held on Tuesday 20/09/2022, through technical means.
The company said that due to the lack of a quorum in the first meeting, the second meeting was held an hour after the scheduled time for the first meeting, where the quorum was completed and the attendance rate (remotely) represented %21,61 of the total shares of the company.
The Voting Results on the Items of the General Assembly’s Meeting Agenda’s:
1- Approval of the Board of Directors Annual Report for the fiscal year ended on 31-03-2022.
2- Approval of the auditor report on the Company accounts for the fiscal year ended on 31-03-2022.
3- Approval of the financial statements for the fiscal year ended on 31-03-2022.
4- Approval of the Audit Committee recommendation RSM Allied Accountants to appoint the external auditor to examine, review and audit the financial statements for the second, third quarter of 2022, fourth quarter of 2023, Annual from 01-04-2022 to 31-03-2023 and the first quarter that ended on 30-06-2023 and set their fees.
5- Approval of the Board of Director’s recommendation to distribute dividends amounting to SR(10,000,000) at SR(0.50) per share, equivalent to (5%) of the nominal share value for the financial year ended on 31-03-2022, payable to shareholders at the closing of trading on Assembly Meeting Day, and for the Shareholders registry of the Securities Depository Centre at the end of the second trading day following the eligibility date, dividends distribution date will be announced later.
6- Approval of pay (SR900,000) as remuneration for the Board Members for the financial year ended 31-03-2022.