Al Rasheed Assembly Approves 5 Members Election to BOD

Mohammed Hadi Al Rashid & Partners Company announced on Monday to its shareholders the results of the Extraordinary General Assembly Meeting (First Meeting), where the results included approval of the election of members of the Board of Directors from among the candidates for the next session, which begins on Oct. 07, 2024, and ends on Oct. 06, 2028 for a period of four years, and they are:

1. Mr. Badr Mohammed Hadi Al Rashid

2. Mr. Hamad Mohammed Hadi Al Rashid

3. Mr. Mohsen Mohammed Hadi Al Rashid

4. Mr. Faris Abdulrahman Al Faris

5. Mr. Abbas Ali Al Musaed

The rest of the voting results were as follows:

– Approval to transferring the balance of the statutory reserve amounting to (13,690,184) Saudi riyals as in the annual financial statements ending on (Dec. 31, 2023) to the balance of retained earnings amounting to (76,502,176) Saudi riyals as in the semi-annual financial statements ending on (June 30, 2024).

– Approval of amending Article (13) of the Company’s Bylaws related to stock trading.

– Approval of deleting Article (14) of the Company’s Bylaws related to the shareholders’ register.

– Approval of deleting Article (42) of the Company’s Bylaws related to issuing general assembly decisions by circulation.