June 20 .. “AL Abdullatif” GA to discuss works and contracts ‎concluded with related parties

The Board of Directors of Al-Abdullatif Industrial Investment Company called on shareholders to participate and vote in the eighteenth Ordinary General Assembly meeting, which is scheduled to be held at 08:30 pm on Tuesday, June 20, by means of modern technology.

Agenda:

– Reviewing and discussing the report of the Board of Directors for the fiscal year ending on 12/31/2022.

– Voting on the auditor’s report for the fiscal year ending on 12/31/2022 AD and discussing it.

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

– To vote on appointing an auditor for the company 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 fiscal year 2024 AD, and determine his fees.

– To vote on delegating the Board of Directors with the powers of the Ordinary General Assembly, with the authorization contained in Paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of approval by the General Assembly or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with For the conditions stipulated in the executive regulations of the Companies Law for listed joint-stock companies.

– Voting on the business and contracts that will be concluded between the company and the Al-Abdullatif Furniture Company, in which a member of the Board of Directors, Sulaiman bin Omar Al-Abdullatif, Abdullatif bin Omar Al-Abdullatif, and Fahd bin Omar Al-Abdullatif have an indirect interest, which mainly consists of wholesale sales of carpet products. And carpets, bearing in mind that the nature of the relationship does not differ from dealings with ordinary commercial debtors and creditors, and there are no special advantages or conditions for them. ) thousand riyals.

– Voting on the payment of bonuses to members of the Audit Committee for the fiscal year ending on 12/31/2022 AD, according to the remuneration policy of the Board of Directors, its committees, and the executive management. Bin Hassan Al Sheikh with an amount of 20,000 riyals, and Abdulaziz Muhammad Al-Suwaidan with an amount of 20,000 riyals.

– Voting on the payment of bonuses to the members of the Remuneration and Nominations Committee for the fiscal year ending on 12/31/2022 AD, according to the policy of remuneration of the Board of Directors, its committees, and the executive management. Suleiman bin Omar Al-Abd Al-Latif waived the membership reward for this committee.

– Voting on the payment of bonuses to the members of the Risk Management Committee for the fiscal year ending on 12/31/2022 AD, according to the remuneration policy of the Board of Directors, its committees, and the executive management. And Muhammad bin Hamdan Al-Sari’i, with an amount of 15,000 riyals

– Voting on the payment of bonuses to the members of the Executive Committee for the fiscal year ending on 12/31/2022 AD, according to the remuneration policy of the Board of Directors, its committees, and the executive management, and they are: Engineer Samir bin Mahmoud Haddad, in the amount of 15,000 riyals. And Fahd bin Omar Al-Abdul-Latif for their membership reward for this committee

– Voting on the disbursement of an amount of (100,000) riyals to four members of the Board of Directors as a reward for the fiscal year ending on 12/31/2022 AD, with a total of (400,000) riyals. And Hisham bin Abdul Rahman Al-Askar).

Note that the rest of the three members, who are Sulaiman Omar Al-Abdullatif, Abdullatif Omar Al-Abdullatif, and Fahd Omar Al-Abdullatif, have waived their remuneration for their membership in the Board of Directors for the year ending on 12/31/2022 AD.

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