| Introduction | Al Kathiri Holding Co announces the results of its 4th extraordinary general assembly meeting (First Meeting) which was held on Wednesday 16-07-1441 H corresponding to 11/03/2020 at 6:30pm at 3158 Al Amir Yazid Ibn Abdullah Ibn Abdul Rahman – Al Malqa District. Riyadh, KSA, after the completion of the legal percentage of more than 50% of the company capital and with the original attendance, agency and remote voting. The percentage of attendance reached 70.84% of the capital. |
| City and Location of the General Assembly’s Meeting | Al Amir Yazid Ibn Abdullah Ibn Abdul Rahman – Al Malqa Dist. Riyadh, KSA |
| Date of the General Assembly’s Meeting | 2020-03-11 Corresponding to 1441-07-16 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 70.84 |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | The following Alkathiri Holding Board members attended the meeting:1 – Mr. Rayed Mohammed Nasser Alkathiri (Chairman of Board and Member of the Nominations and Remuneration Committee)2- Mr. Adel Ibrahim Mohammed Alkathiri (Vice Chairman and Member of the Board)3 – Mr. Meshal Mohammed Nasser Alkathiri (Managing Director and Chief Executive Officer)4 – Mr. Saud Mohammed Abdullah Al Shraim (Member of the Board and Chairman of Nominations and Remuneration Committee) |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf | The following Alkathiri Holding Board members attended the meeting:1 – Mr. Saud Mohammed Abdullah Al Shraim (Member of the Board and Chairman of Nominations and Remuneration Committee)2 – Mr. Maher Nizam Barghouti (Chairman of the Audit Committee) |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1)Approved the Auditors’ report for the fiscal year ending 31st December 2019.2)Approved the the Company’s financial statements for the fiscal year ending 31st December 2019.3)Approved the the Board of Directors report for the fiscal year ending 31st December 2019.4) Approved the appointment of the Company’s external auditors ( AlKharashi & Co. Certified Accountants and Auditors ) as per Audit Committee’s recommendation, from among nominees, to review and audit the primary financial statement for the second and third quarter financial statements and closing financial statements for 2020 And audit the primary financial statement for the first quarter 2021 and to approve their fees.5)Approved the discharge of the Board of Directors members from liabilities for the fiscal year ending 31st December 2019.6)Approved the payment of (SAR 230,000) as remunerations and compensations to the members of the Board of Directors for their membership during the period from 1st January 2019 to 31st December 2019.7)Approved the election of the Board of Directors for the next term, starting from 13-03-2020 for a period of (3) Gregorian years ending on 12/03/2023, and they are :1 – Mr. Rayed Mohammed Nasser Alkathiri2- Mr. Adel Ibrahim Mohammed Alkathiri3 – Mr. Meshal Mohammed Nasser Alkathiri4 – Mr. Saud Mohammed Abdullah Al Shraim8)Approved the formation of the Audit Committee for the next term, starting from 13-03-2020 for a period of (3) Gregorian years ending on 12/03/2023, accordance to Audit Committee Bylaws. The Candidates for membership of the committee are:•Mr. Maher Nezame Abdulkarim Al bargouthy•Mrs. Ashwaq Mohammed Nasser Alkathiri•Mr. Mahmoud Hanfy Megely Oquel9)Approved the amended Audit Committee Bylaws.10)Approved the amended List of policies, standards and procedures for board membership.11)Approved the amendment of Article (16) of the Company’s Articles of Association related to Company Management .12)Approved the amendment of Article (18) of the Company’s Articles of Association Related to the vacant position on the board of directors .13)Approved the amendment of Article (23) of the Company’s Articles of Association Related to the board meeting quorum.14)Approved the amendment of Article (24) of the Company’s Articles of Association related to Related to the board deliberations.15)Approved the amendment of Article (30) of the Company’s Articles of Association related to inviting associations.16)Approved the amendment of Article (31) of the Company’s Articles of Association related to Attendance of shareholders .17)Approved the amendment of Article (50) of the Company’s Articles of Association related to A Liability Claim . |
