Raydan Food Co. Amends Regulations of Nominations and Remuneration Committee

Raydan Food Company announced the outcomes of its Ordinary General Assembly Meeting (First Meeting) held on Sunday, highlighting the approval of amendments to the regulations governing the Remuneration and Nominations Committee.

Details of the meeting agenda outcomes are as follows:

1- The consolidated Financial Statements for the fiscal year ending 31-12-2023G was reviewed and discussed.

2- The Board Report for the fiscal year ending 31-12-2023G was reviewed and discussed.

3- Approval of the Auditors Report for the fiscal year ending 31-12-2023G.

4- Approval of the absolve the members of the Directors from liability for the fiscal year ending 31-12-2023.

5- Approval of appointment of Ibrahim Mohammed Al-Bassam & partners as auditor of the company from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the (second and third) quarters and annual of the fiscal year 2024G, and the first quarter of the fiscal year 2025G, with fees of SAR 375,000 (Three hundred seventy-five thousand Saudi Riyals).

6- Approval of disbursing an amount of the sum of SAR (1,784,930) annual remuneration to the members of the Board of Directors for the financial year ended on 31-12-2023.

7- Approval of the policy of competition controls and standards.

8- Approval of the Social Responsibility policy.

9- Approval of amending the policy, criteria and procedures of membership of the Board of Directors.

10-Approval of the rules of work of the board of directors.

11-Approval of amending the rules of work of the Remuneration and Nominations Committee.

12-Approval of amending the rules of work of the Audit Committee.

13-Approval of the decision of the board of directors to appoint Mr. Adel Shamsuddin Siddiqui as an independent member of the board of directors starting from the date of his appointment on 14-05-2024 to complete the board session until the end of the current session on 20-04-2025 to succeed the previous member Mr. Faisal Saad al-Subaie (independent member).