Transformational Assembly meeting minutes

The meeting of the (Transformational) Assembly of Morse Information Technology Holding Company of Morse Information Technology Holding Company (a closed Saudi joint stock company) on Wednesday 27/8/1443 AH corresponding to 3/30/2022 AD in Jeddah.

Based on the invitation from the founders to the shareholders of the company to attend the transformational assembly to discuss the items of the transformational assembly.

The meeting of the Transformational Assembly was held at the company’s headquarters in Jeddah on Wednesday 27/8/1443 AH corresponding to 3/30/2022 AD at 4:30 pm under the chairmanship of Dr. Fahad Farouk Hakim In the presence of the representative of the Ministry of Commerce, Ms. Kholoud Abdul Rahman Al-Saqati, and he announced the completion of the quorum necessary for the convening of the assembly, where shareholders representing 50,000 shares representing (100%) of the company’s total capital of 50,000 shares attended. Therefore, the assembly meeting is valid In accordance with the text of Article (62) of the Companies Law, Ms. Hadeel Muhammad Al-Youbi was appointed secretary of the association and a vote-collector. Then the president of the association asked the secretary of the association to read the agenda items. After that, the debate was opened. As follows:-

1- Verify that all shares of the company have been subscribed to and that the minimum amount of the capital and the amount due from the value of the shares have been fulfilled in accordance with the provisions of the system.

2- Approval of the final texts of the company's articles of association.

3- Appointing members of the first board of directors for a period of 5 years

- Dr. Fahad Farouk Hakim (Chairman of the Board of Directors)

- Faisal Fahad Hakim (Vice Chairman of the Board of Directors)

- Sarah Abdulaziz Al-Zahrani (independent member of the board of directors / secretary)

- Tahani Tawfiq Al-Mahmadi (Managing Member)

4- Appointing the first auditor of the company’s accounts, Messrs./ Zain Al-Abidin Al-Harbi Company for Professional Consultations (Chartered Accountants), at a fee of 23,000 riyals.

5- Acknowledgment of the expenses necessitated by the company's transformation.

The meeting ended at 5:30 pm, where the president of the association thanked all the attendees for participating and attending this meeting.