Announcement of the Results of the Ordinary General Assembly Meeting – Second Session of Morse Holding Company
Date 2025/08/26

Announcement of the Results of the Ordinary General Assembly Meeting – Second Session of Morse Holding Company

Announcement of the Results of the Ordinary General Assembly Meeting – Second Session

Based on the invitation extended by the Chairman of the Board of Directors to the shareholders to attend the Second Session of the Ordinary General Assembly Meeting to discuss its agenda items, the meeting was held at the company’s headquarters in Jeddah on Monday, August 25, 2025, at 11:00 AM, under the chairmanship of Dr. Fahd Farouk Hakim, Chairman of the Board.

The Chairman announced that the required quorum for the validity of the meeting had been achieved, with shareholders representing 500,000 shares, equivalent to 100% of the company's total capital of 500,000 shares, in attendance. Accordingly, the meeting was validly convened in accordance with Article (92) of the Companies Law.

Ms. Atheer Saleh Al-Qurashi was appointed as the meeting secretary. The Chairman asked the Secretary to read out the agenda items, after which the floor was opened for discussion. The Chairman then invited shareholders to vote on the agenda items. The voting results were as follows:

 

No.

Agenda Item

Number of Shares

Percentage

Approved

Not Approved

1

Announcement of the unaudited financial results for Q1 of 2025, including:
– Total assets as of March 31, 2025: SAR 517,268.72


– Capital as of March 31, 2025: SAR 500,000.00


– Accumulated losses as of March 31, 2025: SAR (162,808.94)


– Reserves as of March 31, 2025: SAR 9,375.00


– Total liabilities and shareholders' equity: SAR 517,268.72


– Revenues from January 1 to March 31, 2025: SAR 47,000.00


– Expenses for the same period: SAR 259,681.09

 
– Net income (loss): SAR (212,681.09)

500,000

100%

✓

 

2

Disclosure of the transfer of the financial liability of the interest-free loan from Moress Holding Company to the personal liability of the Chairman of the Board, Dr. Fahd Farouk Hakim, based on an agreement between the parties

500,000

100%

✓