‎“L’azurde” GA agrees to distribute SR17.2 mln cash dividends ‎for 2022‎

L’azurde Company for Jewelry announced the results of the Extraordinary General Assembly meeting (the third meeting), which was held yesterday, corresponding to 06-19-2023 AD, at 08:45 pm, through modern technology.

Voting results:

– The report of the Board of Directors for the fiscal year ending on December 31, 2022 AD was reviewed and discussed.

– The financial statements for the fiscal year ending on December 31, 2022 AD were reviewed and discussed.

– Approval of the company’s auditor’s report for the fiscal year ending on December 31, 2022.

– Approval of the appointment of Ibrahim Ahmed Al-Bassam & Partners (PKF), chartered accountants, as an independent auditor for the company’s accounts, based on the recommendation of the Audit Committee, in order to examine, review and audit the preliminary financial statements for the second and third quarters and the annual financial statements for the year 2023 AD and the first quarter of the year 2024 AD, and determining his fees

– Approval of the Board of Directors’ recommendation to distribute cash dividends to shareholders for the fiscal year ending on December 31, 2022 AD, with a total amount of (17,250,000) Saudi riyals at the rate of (0.30) Saudi riyals per share, which represents (3%) of the company’s capital. Provided that the eligibility is for the shareholders who own the shares at the end of trading on the day of the General Assembly meeting 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 eligibility date. The distribution of profits will start from Thursday, 12/25/1444 AH, corresponding to 07/13/2023 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, and to determine the date of maturity and disbursement in accordance with the executive regulations of the companies’ system for listed joint-stock companies.

Approving the delegation of 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.

– Approval to release the members of the Board of Directors from liability for the year ending on December 31, 2022.

– Approving the amendment of the work regulations of the Board of Directors and the criteria for membership of the Board of Directors

Approving the amendment of the Audit Committee’s work regulations

Approval of amending the work regulations of the Nominations and Remuneration Committee

– Approval of amending the remuneration policy of the Board of Directors, the committees emanating from the Board, and the Executive Management

– Approval of amending the company’s bylaws in accordance with the new companies’ bylaws, and rearranging the articles of the bylaws and their numbering to comply with the proposed amendments.