MIS agrees to authorize the BOD to distribute interim profits for the year 2023

The Board of Directors of Al Moammar Information Systems (MIS) announced on Sunday the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 20:30 pm on Thursday, 08/06/2023. By means of modern technology, the items included approving the authorization of the Board of Directors to distribute interim profits on a semi-annually or quarterly for the fiscal year 2023.

Voting Results on the Items of the General Assembly’s Meeting Agendas:

1. The Board of Directors’ Report for the fiscal year ended 31/12/2022 was reviewed and discussed.

2. Approval of the auditor’s report for the financial year ended 31/12/2022 after discussing it.

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

4. Approval of the appointment of Ernst & Young & Co. as the Company’s auditor to examine, review, and audit the financial statements for the second, third, and annual quarters of the fiscal year 2023 and the first quarter of the fiscal year 2024 and determine its fees.

5. Approval of the discharge of the members of the Board of Directors from liability for the fiscal year ending on 31/12/2022.

6. Approval of the disbursement of SAR 1,090,000 as remuneration to the members of the Board of Directors for the fiscal year 31/12/2022.

7. Approval of authorizing the Board of Directors to distribute interim dividends semi-annually or quarterly for the fiscal year 2023.

8. Approval of the business and contracts that will take place between the company and Saudi Esri Company Ltd., in which the following members of the Board of Directors Khalid Abdullah Al-Moammar (non-executive member) and Ibrahim Abdullah Al-Moammar (non-executive member) have a direct interest, which is (licensing and support services), noting that the value of transactions in the year 2022 amounted to 3,134,554.64 riyals. Knowing that these transactions are based on commercial bases without preferential conditions.

9. Approval of the business and contracts that will take place between the company and the Commercial Electronic Maps Company, in which the following members of the Board of Directors, Khalid Abdullah Al-Moammar (non-executive member) and Ibrahim Abdullah Al-Moammar (non-executive member), have a direct interest, which is (GIS software licenses), noting that the value of transactions in the year 2022 amounted to 756,178.46 riyals. Knowing that these transactions are based on commercial bases without preferential conditions.

10. Approval of the business and contracts that will take place between the company and Emaar Information Technology Company, in which the Board Member Abdullah Mohammed Al-Moammar (resigned) has a direct interest, which is (network equipment sales), noting that the value of transactions in the year 2022 amounted to 4,604,056.69 riyals. Knowing that these transactions are based on commercial bases without preferential conditions.

11. Approval of the participation of the member of the Board of Directors, Mr. Khalid Abdullah Al-Moammar, in a work competing with the company’s business.

12. Approval of the participation of a member of the Board of Directors, Mr. Ibrahim Abdullah Al-Moammar, in a work competing with the company’s business.

13. Approval of the participation of a member of the Board of Directors, Mr. Abdullah Mohammed Al-Moammar, in a work competing with the company’s business.

14. Approval of the social responsibility policy for the years 2023, 2024 and 2025.

15. Approval of the delegation of the Board of Directors with the authority of the Ordinary General Assembly with the license mentioned in paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the session of the authorized Board of Directors, whichever is earlier, in accordance with the conditions contained in the Executive Bylaws of the Companies Law for Listed Joint Stock Companies.