The Agenda of the Extraordinary General Assembly Meeting which will be held on Monday 11
thof Ramadan 1441 corresponding to 4
thMay 2020 at 9:30 pm
1. Vote on the auditor’s report for the fiscal year ending on 31/12/2019.
2. Vote on the Company's consolidated financial statements for the fiscal year ending on 31/12/2019.
3. Vote on the Board of Directors' report for the fiscal year ending on 31/12/2019
4. Vote on the appointment of external auditors from among the candidates recommended by the Audit Committee to audit the company’s annual financial statements for the second, third quarters, annual financial statements for the fiscal year 2020 and the first quarter of year 2021 along with determining their fees.
5. Vote on discharging the Board Members from any liabilities for the fiscal year ending 31 December 2019
6. Vote on the disbursement of SAR (1.6) Millions Remuneration for the Board Members for the year ending in 31 Dec.2019
7. Voting of transactions and contracts concluded between the Company and ALToukhi Co. for Industry and Trading, where the board member Mr. Mahmoud Mohamad ALToukhi has indirect interest. The nature of these contracts is selling the company products. The total amount of the contacts during 2019 has reached SAR (3.682) Millions without any preference or special terms.
8. Voting of transactions and contracts concluded between the Company and ALQuraishi Co. for Electrical Services, where two Board Members Mr. Yousef Ali ALQuraishi and Mr. Faisal Saleh ALQuraishi have indirect interest. The nature of these contracts is purchasing products. The total amount of the contacts for year 2019 has reached SAR (769) Thousand without any preference or special terms.
9. Vote on the participation of the board members, Mr. Yousef Ali ALQuraishi and Mr. Faisal Saleh ALQuraishi in a competing activity through ALQuraishi Co. for Electrical Services which engages in a similar activity of the Company which is trading in Switchgears and Transformers.
10. Vote on Buy Back of the Company’s shares with a maximum of (350.000) for the purpose of allocating them for the incentive shares program for senior staff, and delegating the Board to complete the purchase during a period not exceeding (12) months from the date of the General Assembly approval, provided the source of funding the purchase of shares to be through the Company internal resources. The purchased shares will be kept no longer than 7 years from the date of purchase. After the elapse of the specified period, the company will follow the procedures and control stated in the relevant laws and regulations. Knowing that, this program is a continuity of the current program and the board has determined its terms and approved by EGAM on 24 April 2019.
11. Vote on authorizing the Board of Directors the General Assembly’s power of license included in paragraph (1) of Article (71) of the Companies Law, for one year from the date of approval of the General Assembly or until the end of the Board of directors’ term whichever is proceeds, in accordance with the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.
