August 10: Zahrat Al Waha GA to Vote on Related-Party Business and Contracts

Zahrat Al Waha for Trading Co. announced on Thursday that its Board of Directors invited shareholders to participate and vote in the Extraordinary General Assembly Meeting (First Meeting), scheduled to be held via modern technology on August 10.

According to the Company’s statement on Tadawul, the Meeting’s agenda will be as follows:

1- Voting on the business and contracts concluded for the fiscal year ending December 31, 2024, between the Company and Hana Food Industries Company, in which Board Member Mr. Ahmed Hamoud Ibrahim Al-Dhiyab has an indirect interest. These contracts involve the sale of finished goods and products, consisting of preformed plastic bottle caps of various sizes and weights, and the purchase and sale of raw materials, packaging and wrapping during the fiscal year ending December 31, 2024, without discrimination or preferential terms. The transaction value amounted to SAR 28,762,287 in sales, including Value-Added Tax (VAT), and SAR 50,400 in purchases, including VAT;

2- Vote to discharge the Board of Directors from liability for the fiscal year ending December 31, 2024;

3- Vote to pay a remuneration of SAR 600,000 to Non-Executive Board Members for the fiscal year ending December 31, 2024; and

4- Vote to amend Article Four of the Company’s Articles of Association, relating to the Company’s objectives.