Naseej Elects Six New Board Members

Naseej International Trading Company announced the results of the Ordinary General Assembly meeting (the first meeting), which was held after a quorum was completed. The terms included approving the election of members of the Board of Directors from among the candidates for the next session, which begins on July 16, 2024 and lasts for four years and ends on July 15, 2028 AD, and they are:

1- Wael Saad AL Rashid

2- Yasser Suliman Alaqeel

3- Rasheed Sulaiman Alrasheed

4- Musalli Mahdi Almuammar

5- Meshari Ali Al Nashwan

6- Feras Ghassab Alharbi

The rest of the Assembly’s agenda items were as follows:

1- The Board of Directors’ report for the fiscal year ending on 31/12/2023 was reviewed and

discussed.

2. The financial statements for the fiscal year ending on 31/12/2023 was reviewed and discussed.

3. Approval of the auditor’s report on the Company’s accounts for the fiscal year ending on

31/12/2023.

4. Approval of appointing El Sayed Al Ayouty Co. as auditor for the Company from among the

candidates based on the Audit Committee’s recommendation. The appointed auditor shall

examine, review and audit the (second, third) quarter and annual financial statements, of the fiscal

year 2024 G., and the first quarter of the fiscal year 2025 G., and the determination of the auditor’s

fees with the amount of SAR 325,000 excluding VAT.

5. Approval of the business and contracts that will be concluded between the Company and Al

Sorayai Group for Industrial Investment, in which the Board member Mr. Naser Saleh Nasser AL

Sorayai (Non-Executive) has a direct interest in it (related party), These businesses and contracts

are about purchasing and supplying raw materials to factories. Note that transactions for the last

year 2023 amounted to (SAR 541,371 ) (There are no preferential terms in the contracts) .

6. Approval of the business and contracts that will be concluded between the Company and the Saudi

Carpet Accessories Manufacturing Company Ltd. (Matex), in which the Board member Mr. Naser

Saleh Nasser AL Sorayai (Non-Executive) has an indirect interest in it (related party), These

businesses and contracts are about purchasing and supplying raw materials to factories. Note that

transactions for the last year 2023 amounted to (SAR 18,237,848 ) (There are no preferential terms

in the contracts) .

7. Approval of the business and contracts that will be concluded between the Company and Al-Hikma

Real Estate Development Company, in which the Board member Mr. Naser Saleh Nasser AL Sorayai

(Non-Executive) has an indirect interest in it (related party), These businesses and contracts are

about lease contracts for showrooms, warehouses and offices owned by Al-Hikma Company. Note

that transactions for the last year 2023 amounted to (SAR 460,000( There are no preferential terms

in the contracts) .

8. Approval of Delegating the Ordinary General Assembly authorization powers stipulated in

Paragraph (1) of Article (27) of the Companies Law to the Board of Directors, for one year from the

General Assembly approval date, or until the end of the session of the delegated Board of

Directors, whichever is earlier, in accordance with the conditions stipulated in the executive

regulations of the Companies Law for listed joint stock companies.