February 20 .. “Makkah Construction” GA to discuss ‎terminating contract with EY

The Board of Directors of Makkah Construction and Development Company called on shareholders to participate and vote in the thirty-fifth Ordinary General Assembly meeting (the first meeting, and the second in an hour) via modern technology “remotely” using the Tadawulaty system, on 07-29-1444 corresponding to 02-2023 -20.

Assembly agenda:

1) Reviewing and discussing the company’s financial statements for the fiscal year 1443 AH (the short Hijri year) ending on 11/14/1443 AH corresponding to 06/13/2022 AD.

2) Voting on the company’s auditor’s report for the fiscal year 1443 AH (the short Hijri year) ending on 11/14/1443 AH corresponding to 06/13/2022 AD.

3) To vote on the termination of the contract between the company and the office of Ernst & Young, the auditor of the company, by mutual consent between the two parties, for the engagement letter (contract) signed between the company and the office of Ernst & Young, the auditor of the company on 01/12/1443 AH corresponding to 30/06/ 2022 AD, and that the last period reviewed between the two parties was the financial period ending on 09/30/2022 AD.

4) To vote on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the short calendar year ending on 12/31/2022 AD and the first quarter that ends on 03/31/ 2023 AD and determining his fees, in the event that Clause No. 3 (termination of the contract) is approved.

5) To vote on the decision of the Board of Directors to appoint Ibrahim Abdullah Ibrahim Al-Subaie as a (non-executive) member of the Board of Directors, starting from the date of his appointment on 12/05/2022 AD corresponding to 05/11/1444 AH to complete the Board session until the end date of the current session on 20 11/1444 AH corresponding to 06/09/2023 AD, to succeed the previous member Abdul Rahman Abdul Qader Muhammad Fakih (non-executive)

6) Voting on the business and contracts concluded between the company and Ziyad Bassam Muhammad Al-Bassam, a member of the Board of Directors, and he has a direct interest in it, which is a lease contract for a gallery (audio library) in the commercial center with an area of 16 square meters during the period from 03/04/2022 AD Until 12/31/2022 AD, at a rent of 201,156 riyals, (without preferential benefits)

7) Voting on the business and contracts concluded between the company and the Anas Muhammad Salih Serafi Foundation, in which Hamza Muhammad Salih Serafi, Vice-Chairman of the Board of Directors had an indirect interest. 2022 AD until 12/31/2022 AD, with a rent of 216,575 riyals (without preferential benefits).