Leen Alkhair GA approves transactions & contracts concluded with related parties

Leen Al-Khair Trading Company announced to its shareholders the results of the Ordinary General Assembly meeting (the first meeting), which was held at 18:45 pm on Monday, whereas the voting results on the items of the general assembly’s meeting agenda’s are as follows:

1. Approval of the company’s auditor’s report for the fiscal year ending on December 31, 2022 AD, after discussing it.

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

3. The company’s financial statements for the fiscal year ending on December 31, 2022 were reviewed and discussed.

4. Approving the release of the members of the Board of Directors from liability for the year ending on December 31, 2022

5. Approving the appointment of United Accountants for Professional Consultations (RSM) as the company’s auditor among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the annual financial statements for the fiscal year 2023 and the first half of the fiscal year 2024 and determine his fees

6. 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 the conditions stipulated in the regulations. Implementation of the corporate system for listed joint stock companies

7. Approval of the business and contracts concluded between the company and Taqaddam International Company for Communications and Information Technology, in which both the Chairman of the Board (Saud Muhammad Abdullah Al Shuraim) and the Managing Director and Chief Executive Officer (Abdullah Muhammad Abdullah Al Shuraim) have an indirect interest in it, which is (payments On behalf of a period of one year) Note that the value of transactions for the previous year is the amount of (SAR 1,849,650), and the balance at the end of the period reached (zero).

8. Approval of the business and contracts concluded between the company and Basmat Al-Sultan Company, in which both the Chairman of the Board (Saud Muhammad Abdullah Al Shuraim) and the Managing Director and Chief Executive Officer (Abdullah Muhammad Abdullah Al Shuraim) have an indirect interest in them, which are (sale transactions for a period of one year Note that the value of transactions for the previous year is the amount of (SAR 4,770,708) (and purchase transactions for a period of one year) with an amount of (SAR 1,744,966), and the balance at the end of the period reached (zero).

9. Approval of the business and contracts concluded between the company and Masaif Company, in which both the Chairman of the Board (Saud Muhammad Abdullah Al Shuraim) and the Managing Director and Chief Executive Officer (Abdullah Muhammad Abdullah Al Shuraim) have an indirect interest in it, which is (payments on behalf of a period of one year). Note that the value of transactions for the previous year is the amount of (SAR 183,108), and the balance at the end of the period reached (zero).

10. Approval of the business and contracts concluded between the company and the managing director and CEO (Abdullah Muhammad Abdullah Al Shuraim), in which he has a direct interest, is (payments on behalf of a period of one year), noting that the value of transactions for the previous year is an amount of (SAR 4,308,463) The balance at the end of the period amounted to (SAR 4,308,463)