June 02: Paper Home Assembly Votes on Contracts with Chairman

Paper Home Co. announced on Thursday that its Board of Directors invited shareholders to participate and vote in the upcoming Ordinary General Assembly Meeting, scheduled for June 02, to be held via modern purification methods.

According to the company’s statement on Tadawul, the meeting agenda includes the following items:
1. Voting on the auditor’s report for the fiscal year ending December 31, 2024, after discussing;
2. Voting on absolving the members of the Board of Directors from liability for the fiscal year ending December 31, 2024;
3. Reviewing and discussing the Board of Directors’ report for the fiscal year ending December 31, 2024;
4. Voting on disbursing SAR 240,000 as remuneration to the members of the Board of Directors for the year ending December 31, 2024;
5. Voting on the appointment of the company’s auditor from among the candidates, based on the Audit Committee’s recommendation, to examine, review, and audit the semi-annual and annual financial statements for the year 2025 and determine their fees;
6. Voting on authorising the Board of Directors to distribute interim dividends (quarterly and semi-annual) for the year 2025;
7. Voting on the business and contracts concluded between the company and Al Kharj Investment Company (a one-person company) wholly owned by the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al Maghribi) in which he has an indirect interest, which is (payment of the balance due to the related party) according to the prevailing market conditions in the amount of (SAR 101,527) (as a debtor);
8. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (financing to support operational processes in the factory) according to the prevailing market conditions in the amount of (SAR 13,487,432) (as a creditor);
9. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (the rent of the factory land owned by him) according to the prevailing market conditions for an amount of (SAR 300,000) (as a creditor);
10. Voting on the business and contracts11> concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (payment of the balance due to the related party) according to the prevailing market conditions in the amount of (SAR 5,805,793) (as a debtor);
11. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (the purchase of the company’s factory land) according to the prevailing market conditions for an amount of (SAR 23,217,600) (as a creditor);
12. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (the sale of a real estate investment owned by the company) according to the prevailing market conditions for an amount of (SAR 7,114,500) (as a debtor);
13. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (the sale of land owned by the company) according to the prevailing market conditions for an amount of (SAR 7,000,000) (as a debtor); and
14. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Yaqoub Yousef Al-Maghribi) in which he has a direct interest, which is (the sale of properties and equipment owned by the company) according to the prevailing market conditions for an amount of (SAR 15,141,084) (as a debtor).