Notice - Morse Holding Company about the date of the fourth ordinary general assembly meeting for the year 2023AD
Date 2023/12/19

Notice - Morse Holding Company about the date of the fourth ordinary general assembly meeting for the year 2023AD

The Board of Directors of Morse Holding Company (a Saudi closed joint stock company) is pleased to invite the members of the Board of Directors and the esteemed shareholders to attend the fourth ordinary general assembly meeting scheduled to be held at the company’s headquarters in Jeddah on Saturday, 16/12/2023 at10:00 PM, to discuss the following assembly items:

 

-Voting on the unaudited financial results for the third quarter ended on 30th September 2023

-Voting on the item mentioned in Article 10 of the basic system, which involves selling two assets (cars) exceeding 50% of the company's total assets in separate transactions

 

-Voting on the sale of one of the assets mentioned in the second item of the assembly to the Chairman of the Board of Directors at its purchase value after deducting depreciation. The other asset was sold at cost after deducting depreciation.

 

-Vote to approve the entry of Morse Company as a 26% founding shareholder in the International Auction Holding Company, a closed joint stock company with a cash capital of 500,000 Riyals (long-term investment)

-Vote on allowing Dr. Fahad Farooq Hakim, Chairman of the Board of Directors of Morse Holding Company, to assume the position of Vice Chairman of the Board of Directors of Internationa Auction Holding Company, (Disclosure).

 

-Vote on allowing the shareholder, Chairman of the Board of Directors, Dr. Fahd Farouk Hakim, a related party, to enter as a founding shareholder in the Internationa Auction Holding Company, knowing that the purposes of the International Auction Company are the same as the purposes of Morse Holding Company.(disclosure

-Vote on amending Contract No. 221000 concluded on 30/12/2022 regarding the transfer of ownership of shares of related parties from Morse Company’s portfolio at Al Fransi Capital. Due to the decline in the market value of the shares by more than 50%, the period for transferring their ownership was extended to 31/12/2024 as a maximum.  

 

- Discharge of the members of the Board of Directors from their liabilities for the financial period ending on30/9/2023

The shareholders who have the right to vote must attend in person or by proxy of someone on their behalf who is not a member of the Board of Directors in accordance with the approved proxy designated for this purpose, which includes the right to attend and vote.