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Mulkia Investment Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )



Type of general assembly meetingL:

 

Extraordinary

 

Number of times the General Assembly meeting called:

 

 

First Meeting

 

introduction: Mulkia Investment Company announces the results of the Extraordinary General Assembly Meeting (first meeting)
 

City and location of the General Assembly:

 

 

The company’s headquarters in Riyadh City (via Modern Technology means)

 

Date of the General Assembly :

 

6 June 2024G / 29 Shawwal 1445 H

 

General Assembly meeting time (24-hour format) :

 

18:30

 

Percentage of Attending Shareholders: 62.69%
Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees:

 

 

 

 

The following Board members attended the meeting:

1- Mr. Ibrahim Mohamed Alhudaithi (Chairman)

2- Mr. Badr Mohamed Aldugaithir (Vice Chairman)

3- Mr. Mutlaq Mohamed Almutlaq (Board Member)

4- Dr. Abdullah Ali Aldubaikhi (Board Member)

5- Mr. Sultan Mohamed Alhudaithi (Managing Director)

6- Mr. Mohammed Ghanem Alinzi (Board Member)

 

Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf:

1- Mr. Mutlaq Mohamed Almutlaq (Member of the Audit & Risks Committee)

2- Dr. Abdullah Ali Aldubaikhi (Chairman of the Remuneration and Nominations Committee)

3- Mr. Sultan Mohamed Alhudaithi (Chairman of the investment Committee)

 

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1- The financial statements for the financial year ending on 12/31/2023 were reviewed and discussed.

2- Approval of the auditor’s report for the financial year ending on 12/31/2023 after discussing it.

3- The Board of Directors’ report for the financial year ending on 12/31/2023 was reviewed and discussed.

4- Approval of discharging the members of the Board of Directors from their liabilities for the financial year ending on 12/31/2023.

5- Approval of disbursing an amount of 345,000 riyals as a reward to members of the Board of Directors for the fiscal year ending on 12/31/2023.

6- Approval of the business and contracts that took place between the company and the Mobtakra Real Estate Company, in which the member of the Board of Directors, Mr. Mohamed bin Ghanem Al-Anazi, has an indirect interest, which is the payment of commissions to the Mobtakra Real Estate Company. The value of the transaction during the year 2023 amounted to 450,000 (four hundred and fifty thousand Saudi riyals) and there are no preferential conditions.

7- Approval of the appointment of Messrs. Ibrahim Ahmed Al-Bassam and Partners PKF as the company’s auditor from among the candidates, based on the recommendation of the Audit Committee, in order to review and audit the semi-annual and annual financial statements for the fiscal year 2024 , with fees amounting to (250,000) two hundred and fifty thousand Saudi riyals, excluding VAT.

8- Approval of amendment to the company’s governance regulations.

9- Approval of authorizing the Board of Directors to distribute interim dividends to shareholders on a semi / quarterly basis for the fiscal year 2024.

10- Approval of delegating to the Board of Directors the authority of the General Assembly with the authorization contained in Paragraph No. (1) of Article No. (27) of the Companies Provisions System and in accordance with the conditions contained in the Executive Regulations of the Companies System for listed joint stock companies, provided that the authorization period is one year from the date Approval of the General Assembly or until the end of the session of the authorized Board of Directors, whichever comes first.

11- Approval of amending Article Fourteen of the company’s bylaws, which relates to stock trading.

12- Approval of deleting Article Fifteen from the company’s bylaws, which relates to the shareholder registry.

13- Approval of deleting Article Sixteen from the company’s bylaws, which relates to share certificates.

14- Approval of amending Article Twenty of the company’s bylaws, which relates to company management.

15- Approval of the Board of Directors’ recommendation to transfer the balance of the statutory reserve amounting 2,468,184 riyals, as in the financial statements for the year ending 12/31/2023, to the retained earnings.