ABDULLAH AL OTHAIM MARKETS COMPANY ANNOUNCES THE RESULTS OF THE SEVENTH SHAREHOLDERS GENERAL ASSEMBLY EXTRAORDINARY MEETING WHICH INCLUDED CAPITAL INCREASE (FIRST MEETING)
1) Approving the Company Audited financial Report for the fiscal year ending 31/12/2017G.
2) Approving the Company consolidated financial statements for the fiscal year ending 31/12/2017G.
3) Approving the Board of Directors Annual Report for the fiscal year ending 31/12/2017G.
4) Approving the Acquittal of the Board members for the fiscal year ending 31/12/2017G.
5) Approving the Board of Directors' resolution dated 25/09/2017G to distribute interim dividends to the shareholders for the first half of year 2017G at the rate of SR (2) per share with a total amount of SR (90,000,000), represents (20) of the company share capital.
6) Approving the recommendation of the Board of Directors to distribute cash dividends to the shareholders for the fiscal year ending on 31/12/2017G at the rate of SR (3) per share, with a total amount of SR (135,000,000) representing (30%) of the company share capital. Eligibility of dividends will be for the shareholders who own the shares on the day of the assembly and registered in the company's register at the security depository center at the closing of the second trading day following the date of the assembly meeting. The dividends will be distributed to the eligible shareholders and will be deposited into their Bank portfolios starting from Thursday 10/5/2018G through Al Rajhi Bank.
7) Approving the audit committee recommendation to appoint Dr. Mohammed AlAmri and Co. as Company auditor to audit & review the Company second, third, fourth and annual financial statements for the fiscal year 2018G, and the 1st quarter 2019 and determining their fees.
8) Approving the remunerations and Compensations paid to the board members for theirs membership included in the board of directors report for the period from 1st January 2017G up to 31st December 2017G.
9) Approving the Board of Directors recommendation to increase the company's capital from SR (450,000,000) to SR (900,000,000) by increasing the number of shares from (45,000,000) shares to (90,000,000) shares by granting one bonus share for each owned share with an increase of (100%). The increase will be implemented through capitalizing an amount of SR (112,518,350) from the statutory reserve account and an amount of SR (337,481,650) from the retained earnings account. However, no fractions will be resulted from the said increase. The right to the capital increase will be to the shareholders who own the shares at the closing of the second trading day after the Extraordinary General Assembly. The increase aims to enhance strategic growth and expansion of its branches and its business plan.
10) Approving the amendment of Article (7) of the company bylaws relating to the company capital to be SR (900,000,000).
11) Approving the amendment of Article (8) of the company bylaws relating to the Company’s shareholders.
12) Approving the amendment of Article (13) of the company bylaws relating to the increase in company’s capital.
13) Approving the amendment of Article (15) of the company bylaws relating to Sukuk and debt instruments.
14) Approving the amendment of Article (21) of the company bylaws relating to remuneration of board members.
15) Approving the amendment of Article (22) of the company bylaws relating to the chairman, vice chairman, managing director and the Secretary of the board.
16) Approving the delegation of authority to the Board of Directors to distribute interim dividends, semi-annual or quarterly, for the fiscal year 2018G, and setting the eligibility and payment dates in accordance with the related rules, procedures issued with regards to the Companies law.
17) Approving the deals and contracts to be implemented between the Company and Al-Othaim Holding Company, where the Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim has an interest , and obtaining the approval for the coming year, which are the leasing and rental contract for various periods, with total value of SR (820,050), There are no preferential terms in this deals.
18) Approving the deals and contracts to be implemented between the Company and Al-Othaim Holding Company, where the Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim has an interest and obtaining the approval for the coming year which are a contract for the rental of labor services on a monthly basis, with total value of SR (240,245),There are no preferential terms in this deals.
19) Approving the deals and contracts to be implemented between the Company and Abdullah Al-Othaim Company for Investment and Real Estate Development and its subsidiaries, where the Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim and Vice-Chairman Mr.Fahad Abdullah Saleh Al-Othaim have an interest and obtaining the approval for the coming year , which are a leasing and rental contracts with various periods, at a total value of SR (51,777,045), There are no preferential terms in this deals .
20) Approving the deals and contracts to be implemented between the company and Abdullah Al-Othaim Company for Investment and Real Estate Development and its subsidiaries, where the Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim and Vice Chairman of the of the Board Mr.Fahad Abdullah Saleh Al-Othaim have an interests and obtaining the approval for the coming year , these deal are a service contract For a period of one year, with a total value of SR (1,197,660), There are no preferential terms in this deals.
21) Approving the deals and contracts to be implemented between the Company and Abdullah Al-Othaim Company for Investment and Real Estate Development, where the Chairman of the Board of Directors Mr.
Abdullah Saleh Al-Othaim and Vice-Chairman of the Board Mr. Fahad Abdullah Saleh Al-Othaim have an interests and obtaining the approval for the coming year, deals is a contract to provide services activities Marketing in commercial complexes for one year, with (30%) of the return of the advertising activities that are carried out by Abdullah Al-Othaim markets company in the commercial complexes belonging to Abdullah Al-Othaim Company Company for Investment and Real Estate Development to be calculated according to the returns achieved by the end of each year, There are no preferential terms in this deal .
22) Approving the deals and contracts to be implemented between the Company and Abdullah Al-Othaim company for Investment and Real Estate Development, where the Chairman of the Board of Directors Mr.
Abdullah Saleh Al-Othaim and Vice Chairman of the Board Mr. Fahad Abdullah Saleh Al-Othaim have an interests and obtaining the approval for the coming year , these deals are a commercial contract for the sale of vouchers Safouri Land games for a year, compared to 20% of the sales of games vouchers that are mediated by the Abdullah Al Othaim markets are calculated according to the returns achieved by the end of each year, There are no preferential terms in this deal .
23) Approving the deals and contracts to be implemented between the Company and Abdullah Al-Othaim Company for Investment and Real Estate Development and its subsidiaries, where the Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim and the Vice-Chairman of the Board Mr.Fahad Abdullah Saleh Al-Othaim have an interests and obtaining the approval for the coming year, these deals are contracts for rental and the leasing of labor services on a monthly basis, with total value of SR (2,004,531), There are no preferential terms in this deal .
24) Approving the deals and contracts to be implemented between the Company and Abdullah Al-Othaim Company for Investment and Real Estate Development, where the Chairman of the Board of Directors Mr.
Abdullah Saleh Al-Othaim and the Vice-Chairman of the board Mr.Fahad Abdullah Saleh Al-Othaim have an interests and obtaining the approval for the coming year, which are contracts for electricity services and benefits with total value of SR (5,036,000), There are no preferential terms in this deal .
25) Approving the deals and contracts to be implemented between the Company and Mueen Company for human resources "a subsidiary", where the board member Mr. Abdul Aziz Abdullah Saleh Al-Othaim has an interest and obtaining the approval for the coming year, which is a contract of employment services lease for a year, to be calculated on the number of labors and the prevailing prices for renting labor services, There are no preferential terms in this deal .
26) Approving the deals and contracts to be implemented between Mueen Company for human resources "a subsidiary" and Riyadh Company for Food Industries which 55% owned indirectly by the company , where a board a member Mr. Abdul Aziz Abdullah Saleh Al-Othaim has an interest and obtaining the approval for the coming year, which is a contract for the rental of employment services and for a year, to be calculated by the number of labors and prices prevailing for the rental of labor services. There are no preferential terms in this deal.
27) Approving the deals and contracts to be implemented between the Company and Mueen Company for human resources "A subsidiary", where the board member Mr.Abdul Aziz Abdullah Saleh Al-Othaim has an interest and obtaining the approval for the coming year, which are contracts for the rental and leasing of real estate for a year and with a rental value of SR (2,060,000). There are no preferential terms in this deals .
28) Approving the deals and contracts to be implemented between the Company and Mueen for Business Company "a company owned by a subsidiary", where the board member Mr. Abdul Aziz Abdullah Saleh Al- Othaim has an interest, which is a contract for the implementation of the project of the company branch in Al-Kharj city for a period of six months, with total value of SR (699,999), There are no preferential terms in this deal .
29) Approving the deals and contracts to be implemented between the Company and Riyadh Company for Food Industries which 55% owned indirectly by the company, where the board member Mr. bdul Aziz Abdullah Saleh Al-Othaim has an interest and obtaining the approval for the coming year, which is a contract to supply food products for a year, to be calculated according to the volume of demand for products during the contract period, There are no preferential terms in this deal.
30) Approving the deals and contracts to be implemented between the Company and Riyadh Food Industries Company, which 55% owned indirectly by the company , where the board member Mr. Abdul Aziz Abdullah Al-Othaim has an interest and obtaining the approval for the coming year, with total value SR (150,000).
There are no preferential terms in this deal.
31) Approving the deals and contracts to be implemented between the company and the Dani Commercial Company, where the Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim and the board members Mr.Fahad Abdullah Al-Othaim, Saleh Mohammed Al-Othaim and Mr. Abdul Aziz Abdullah Al- Othaim have an interest and obtaining the approval for the coming year, which is a contract lease exhibition and for a year with a total rental value of SR(300 thousand). There are no preferential terms in this deal . 32) Approving the deals and contracts to be implemented between the Company and related relatives to the
Chairman of the Board of Directors Mr. Abdullah Saleh Al-Othaim, , and the board members Mr. Fahad Abdullah Al-Othaim, Saleh Mohammed Al-Othaim and Mr. Abdul Aziz Abdullah Al-Othaim have an interest, in respect of a contract for selling the company's share in the Rafif company for tourism and travel to Mr. Abdul Aziz Saleh Al-Othaim and Mr. Mohammed Abdul Aziz Saleh Al-Othaim with a net sale value of SR (67,500). There are no preferential terms in this deal.
33) Approving the deals and contracts to be implemented will be between the company and the General Organization for Social Insurance, where the board member Mr. Bender Nasser Al-Tamimi has an interest and obtaining the approval for the coming year, in respect of a lease contract for land investment with an annual rent value of SR (5,562,500). There are no preferential terms in this deal .
34) Approving the delegation of the General Assembly authorities to the Board of Directors relating to the permission mentioned in paragraph (1) of Article (71) of the Companies Law, for one year from the consent date of the General Assembly, or until the expiry of the current session of the Board of Directors whichever is earlier. According to the attached conditions.
ةماعلا ةيعمجلا ضيوفت طورش ل
ةرادلإا سلجم ب
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ةرادلإا سلجم وضعل رثكا وا
