| Introduction | Alkathiri Holding Company announces the results of its 3th extraordinary general assembly meeting (First Meeting) which was held on Tuesday 18/08/1440H corresponding to 23/04/2019 at 7:00pm at 3158 Al Amir Yazid Ibn Abdullah Ibn Abdul Rahman – Al Malqa Dist. 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 93.50% of the capital. |
| City and Location of the Extraordinary General Meeting | Al Amir Yazid Ibn Abdullah Ibn Abdul Rahman – Al Malqa Dist. Riyadh, KSA |
| Date of the Extraordinary General Meeting | 2019-04-23 Corresponding to 1440-08-18 |
| time of the Extraordinary General Meeting | 19:00 |
| Percentage of Attending Shareholders | 93.50 % |
| Voting Results on the Agenda | 1) Approved the Auditors’ report for the fiscal year ending 31st December 2018.2) Approved the Company’s financial statements for the fiscal year ending 31st December 2018.3) Approved the Board of Directors report for the fiscal year ending 31st December 2018.4) Approved the appointment of the Company’s external auditors ( Waleed Al-shabanat Certified Accountants & Auditors ) as per BACC’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 2019 And audit the primary financial statement for the first quarter for 2020.5) Approved discharge of the Board of Directors members from liabilities for the fiscal year ending 31st December 2018.6) Approved the payment of (SAR 240,000) as remunerations and compensations to the members of the Board of Directors and Board Committees for their membership during the period from 1st January 2018 to 31st December 2018.7) Approved the Board Nominations and Compensations Committee’s Charter8) Approved the Compensations and Remunerations of Members of the Board of Directors, Board Committees and BACC Policy.9) Approved the Board of Directors recommendation to increase the Company’s capital through granting bonus shares as follows:A) Total amount of increase: SAR 7,534,800B) Capital before increase: SAR 37,674,000. Capital after increase: SAR 45,208,800. Increase percentage: 20%.C) Number of shares before increase: 3,767,400. Number of shares after increase:4,520,880.D) This recommendation aims to Strengthen the Company’s capital base and support its future activities.E) The capital increase will be made through the capitalization of SAR 7,534,800 from retained earnings account by granting 1 share for each 5 owned shares.F) In case of bonus shares fractions occurrence; the Company will collect all fractions in one portfolio to be sold by market price, the value will be distributed to eligible shareholders each by their share within 30 days from the allocation of new shares to each shareholder.G) The eligibility will be for shareholders that own shares at the end of trading of the meeting date and registered in the Company’s share registry at the Depository Center at the end of the second trading day following the meeting date.10) Approved the amendment of Article (7) of the Company’s Articles of Association related to Capital Increase.11) Approved the amendment of Article (8) of the Company’s Articles of Association related to Subscription in shares.12) Approved the amendment of Article (16) of the Company’s Articles of Association related to Company Management. |
| Additional Information | 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)Mr. Adel Ibrahim Mohammed Alkathiri (Vice Chairman and Member of the Board)2 – Mr. Meshal Mohammed Nasser Alkathiri (Managing Director and Chief Executive Officer)3 – Mr. Saud Mohammed Abdullah Al Shraim (Member of the Board and Chairman of Nominations and Remuneration Committee)4 – Mr. Maher Nizam Barghouti (Chairman of the Audit Committee)5 – Mr. Khalid Abdul Mohsen Al Khayyal (Member of the Nomination and Remuneration Committee)6 – Mr. Mahmoud Hanafi Magali Aqeel (Member of the Audit Committee)7 – Mrs. Ashwaq Mohammed Nasser Al-Kathiri (Member of the Audit Committee) |
