Based on the invitation extended by the Chairman of the Board of directors to the First Ordinary General Assembly Meeting was held at the company headquarters in Jeddah on Saturday, 21/06/2025 at 10:00 AM, chaired by Dr. Fahd Farouk Hakim. Quorum was achieved with shareholders representing 50,000 shares (100% )of the company’s total capital ,accordingly the convening of the assembly is correct in accordance with article (61) of the companies law . Mr. Moataz Ali Wali was appointed as the Assembly Secretary ,the chairman of the association request the secretary to recite the agenda items , after which to open the debate
The Chairman requested the Secretary of the Association to read the agenda. After discussion, the shareholders voted as follows:
|
Decision Outcome |
Approval Percentage |
Number of Shares |
|
N |
||
|---|---|---|---|---|---|---|
|
Approved |
100% |
50000 |
Vote on the Chairman’s report No. 2024 dated 01/01/2025 |
1 |
||
|
Approved |
100% |
50000 |
Approve the financial statements for the fiscal year ending 2024 and file them in the Qawaem platform. |
2 |
||
|
Approved |
100% |
50000 |
Vote on the auditor’s report for the year ending 31/12/2024. |
3 |
||
|
Approved |
100% |
50000 |
- Vote on issuing health insurance for founding shareholders and Board members. |
4 |
||
|
Approved |
100% |
50000 |
Approve the financial results for the fiscal year ending 2024. |
5 |
||
|
Approved |
2% |
1000 |
- Vote not to distribute Board members' bonuses for the year ending 31/12/2024 |
6 |
||
|
Approved |
100% |
50000 |
- Vote not to distribute dividends for the year ending 31/12/2024. |
7 |
||
|
Approved |
2% |
1000 |
Vote to discharge Board members from liability for the year ending 31/12/2024. |
8 |
The meeting ended at 10:30 AM. The Chairman thanked attendees for their participation.