Aqaseem GA approves transaction & contracts concluded with related parties

The Board of Directors of Aqasem Factory Company for chemical and plastic industry announced the results of the Extraordinary General Assembly meeting (the first meeting), which was held on Sunday, Whereas the voting Results on the Items of the General Assembly’s Meeting Agenda are as follows:

1. The financial statements for the fiscal year ending on 31/12/2022 were reviewed and discussed.

2. The report of the Board of Directors for the fiscal year ending on 31/12/2022 was reviewed and discussed.

3. Approving the release of the members of the Board of Directors from liability for the fiscal year ending on 31/12/2022.

4. Approval of the auditor’s report for the fiscal year ending on 31/12/2022.

5. Approving the appointment of the United Accountants (RSM) as an auditor for the company’s accounts from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the semi-annual and annual financial statements of the fiscal year 2023 and determine his fees.

6. Approval of the business and contracts concluded between the company and Leader Express Company, in which the members of the Board of Directors, Mr. Muhammad Mishnan Al-Dosari and Mr. Faisal Khatam Al-Zahrani, have an indirect interest, which is about (sales and there are no preferential terms) for a debit amount of SAR 2,823,879 for the year 2022

7. Approving the amendment of Article No. (3) of the company’s bylaws related to (the company’s objectives).

8. Approving the amendment of Article No. (19) of the company’s bylaws related to (the powers of the board).

9. Approving the amendment of Article No. (20) of the company’s bylaws, related to (Board members’ remuneration).

10. Approving the amendment of Article No. (21) of the company’s bylaws related to (the powers of the president, deputy and managing director).

11. Approving the addition of an article to the company’s Articles of Association No. (13) related to (the company’s purchase, sale or mortgage of its shares).

12. Approval of adding an article to the company’s articles of association No. (26) related to (formation of committees). attached

13. Approving the addition of an article to the company’s Articles of Association No. (32) related to (Issuing Board decisions in urgent matters).

14. Approval of adding an article to the company’s Articles of Association No. (33) related to (the meeting of the general assembly of shareholders).

15. Approval of adding an article to the company’s Articles of Association No. (48) related to (distribution of profits for preferred shares).

16. Approving the amendment of the company’s bylaws in line with the new companies’ bylaws.

17. Approving the rearrangement and numbering of the articles of the company’s bylaws to comply with the proposed amendments in the clauses, if approved.