‎“Baazeem” GA Oks distributing SR11 mln cash dividends for H2‎

Baazeem Trading Co. announced the general approval on Tuesday of the Board of Directors’ recommendation to distribute semi-annual cash dividends in the amount of 11,137,500 riyals to shareholders for the second half of the fiscal year 2022 AD, at the rate of (1.10 riyals) per share, at a rate of 11% of the capital, provided that eligibility is For shareholders who own shares at the end of trading on the day of the assembly and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the maturity date, and the date of depositing profits will be announced later.

The rest of the general results were as follows:

– Approval and discussion of the Board of Directors’ report for the fiscal year ending on 12/31/2022 AD.

– Approving and discussing the financial statements for the fiscal year ending on 12/31/2022 AD.

– Approval of the auditor’s report for the fiscal year ending on 12/31/2022 AD, after discussing it.

– Approving the appointment of 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 second, third and annual quarters of the fiscal year 2023 AD and the first quarter of the year 2024 AD and determine his fees.

Approval of the business and contracts that took place between the company and the Baazeem Trading Establishment in the State of Qatar, in which a member of the Board of Directors, Mr. Salem Saleh Muhammad Baazeem, has an interest, whether directly or indirectly, knowing that the transactions for the previous year 2022 AD are a group of transactions Commercial, noting that the value of the contract in 2022 AD (5,228,699 riyals) is five million, two hundred and twenty-eight thousand, six hundred and ninety-nine riyals. Knowing that these transactions are carried out on commercial basis and without preferential terms

Approval of disbursing an amount of (2,125,000 riyals) two million one hundred and twenty-five thousand riyals as a reward for the members of the Board of Directors for the fiscal year ending on 12/31/2022 AD.

– Approval to release the members of the Board of Directors from liability for the fiscal year ending on 12/31/2022 AD.

Approving the authorization of the Board of Directors to distribute interim profits on a semi-annual or quarterly basis for the fiscal year 2023 AD.