Watani Iron permits BOD Chairman to pursue competitive business activities

Watani Iron Steel Company announced the results of its Ordinary General Assembly meeting (first meeting) using modern technology, convened precisely at eight o’clock on Sunday, April 28, 2024. As per the company’s disclosure on Tadawul, the voting results on the agenda items of the General Assembly’s meeting are outlined below:

• Reviewing the Board of Directors’ report for the fiscal year ending December 31, 2023.
• Approval of the company’s auditor’s report for the fiscal year ending December 31, 2023.
• Reviewing the financial statements for the fiscal year ending December 31, 2023.
• Approval of discharging the Board of Directors from liability for the fiscal year ending December 31, 2022.
• Allowing the Chairman of the Board of Directors, Mr. Meshal Abdul Karim Mohammed Al Rajhi, to engage in an activity competitive with the company’s business.
• Allowing a member of the Board of Directors, Mr. Mashari Abdul Karim Muhammad Al Rajhi, to engage in an activity competitive with the company’s business.
• Approval of the Board of Directors’ decision to appoint Mr. Omar Muhammad Abdul Rahman Al-Turaif as a non-executive member of the Board of Directors. His appointment, effective from February 25, 2024, will extend until the conclusion of the current session on July 1, 2026, succeeding the previous member, Mr. Abdul Karim Muhammad Al-Rajhi.