| Introduction | Al Kathiri Holding Company announces the results of the Extraordinary General Assembly meeting (second meeting), which was convened at (7:30) PM on Wednesday, Dhu al-Qa’dah 13, 1442, corresponding to June 23, 2021, at the company’s main headquarters (Riyadh) – remotely; And that is an hour after the time set for the first meeting due to the lack of a quorum for the first meeting, as the attendance rate in the first meeting was 46.69%. |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1. Approving the auditor’s report for the fiscal year ending on December 31, 2020.2. Approving the company’s financial statements for the fiscal year ending on December 31, 2020.3. Approving the company’s board of directors’ report for the fiscal year ending on December 31, 2020.4. Approving the appointment of Al Kharashi & Co., Certified Accountants and Auditors, as auditor of the company’s accounts, from among the candidates, based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2021 AD and the first quarter of the fiscal year 2022, and to determine its fees.5. Approving the discharge of the members of the Board of Directors from liability for the year ending on December 31, 2020.6. Not Approving the payment of (160,000) riyals as a remuneration to the members of the Board of Directors for the fiscal year ending on December 31 2020.7. Approving the Board of Directors’ decision to appoint (Mr. Saud Mohammed Abdullah Al Shraim (Independent) as a member of the Audit Committee starting from 09/19/2020 until the end of the current committee’s work period on 3/12-2023. This is in place of the previous committee member (Mr. Mahmoud Hanafi Majali Aqeel (outside board member), provided that the appointment takes effect from the date of the recommendation decision issued on 09-19-2020, and this appointment comes in compliance with the work regulations of the Audit Committee.8. Approving the Board of Directors’ recommendation regarding increasing the company’s capital from (90,417,600) riyals to (113,022,00) riyals by granting shares (as explained below):The capital before the increase (90,417,600) Saudi riyals, the capital after the increase (113,022,000), the percentage increase is (25%).• Number of shares before the increase (9,041,760) shares, the number of shares after the increase (11,302,200) shares.• In order to support the company’s financial position and meet the needs of future expansions.• The capital increase will be by granting shares (1 share for every 4 shares) owned.• This increase will be through the capitalization of an amount of (22,604,400) riyals from the retained earnings.If the item is approved, the eligibility will be for the shareholders who own shares on the day of the extraordinary general assembly who are registered in the company’s shareholders registry with the Securities Depository Center Company (Edaa Center) at the end of the second trading day following the date of the extraordinary general assembly. In the event of fractional shares, they will be collected in one portfolio for all shareholders, and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.• Amending Article (7) of the company’s bylaws related to the company’s capital.• Amending Article (8) of the company’s bylaws, related to subscribing to shares. |
