41 Category of shares with voting rights, with the exception of Board members. We hope that these steps will be the beginning of the company moving forward in the framework of the blessed steps to achieve the goals of the Kingdom. In order to stimulate the business environment in the private sector and develop the country's economy.
D The recommendation of the board of directors to increase the capital in Rials, and the number of shares will be increased by the company to shares. The company is headquartered in Riyadh and has sales and marketing branches in the central, western, eastern and southern regions of the Kingdom. The company is considered one of the leading companies in the food industry and has a long tradition in this field.
The company has developed a Business Plan, which has become the focus of the plans presented to shareholders and the Capital Market. The company also stores the spare parts required for periodic maintenance of the factories in the spare parts warehouse.
Risks of purchasing power and competition in the markets-
Credit risk-
Currency risk-
Liquidity risk-
Fair value-
The Ordinary General Assembly at the proposal of the Board of Directors may allocate (10%) of the net profits to form an agreed reserve that will be distributed for the benefit of the Company. After that, the remainder will be distributed among the shareholders, representing (5%) of the company's paid-up capital. 1 Muhammad Yaqoub Yusuf al-Mukhadab Chairman of the Board of Directors 2 Muhammad Hindi Shuja Al-Otaibi Vice President of the Board 3 Faisal Muhammad Abdul Aziz Al-Khudairi Managing Director.
Faisal Abdullah Muhammad Al-Qahtani Member. twenty one) of the company statute provides that the board of administration meets at least twice a year at the invitation of its chairman. D reached three (3) meetings, one of which in the first half (before the basic system change) and two in the second half of the year. Declaration of the minutes of the participation of the members of the Board of Directors in the meetings of the Board during the year 2022 A.
Regional Director - Bank Aljazira - Chairman of the Board of Directors of Aman Insurance Agency Company. 19-Companies inside or outside the Kingdom in which a member of the company's board of directors is a member of the current and former board of directors or one of its managers. 20-Measures taken by the Board of Directors to inform its members - especially the non-executives - about the proposals and observations of the shareholders regarding the company and its performance.
All shareholders of the company - without exception - can view the minutes of the company's General Assemblies, every annual report and every announcement of the Board of Directors on the Tadawul website and the company's website. 22-Board members' ownership of the company's shares A description of any interest, contractual securities and signature rights that belong to them. In the shares or debt instruments of the company or any of its subsidiaries, or any interest.
24-Declaration of the dates of the general meetings of shareholders and the names of the members of the Board of Directors in 2022. 27-The number of the company's requests for the register of shareholders, and the dates and reasons for the requests. The policy for the remuneration of members of the Board, the Board Committees and the Executive Management was approved as part of the approval of.
The policy clarified that the remuneration of the Managing Director and CEO is determined by the Board of Directors, based on the recommendation of the Remuneration and Nomination Committee upon appointment. The amount of compensation of senior managers in accordance with the company's performance objectives.
Audit Committee-
If the votes are equal, the side for which the chairman of the meeting voted prevails. In which she evaluated financial statements and performed various functions of control over the executive and financial performance of the company. Each committee member received an amount of 3,000 rials as a bonus for attending each meeting.
10-Reviewing the structure of the board of directors and executive management and making recommendations regarding the change that is possible. 11-Annual verification of members' independence and the absence of any conflict of interest, if the member is a member of the board of directors of another company. 13-Establishment of special procedures in the event of a vacant position of a member of the board of directors or a senior executive director.
14-Determining strengths and weaknesses in the Board and proposing solutions to address them in accordance with the interests of the company. The Committee held (6) meetings during the year and the members of the Committee were entitled to compensation for attending the meetings under the same conditions that apply to the members of the Board. 41- Disclosure in the Board of Directors' report on the provisions of the Corporate Governance Regulations and which have not been applied.
Performance appraisal procedures should be written, clear and made public to the members of the Board of Directors and the persons involved in the appraisal. The performance evaluation should also be a. evaluation of the council's working mechanisms in general. By decision of the board of directors of the company, a committee, the so-called Remuneration Committee, is formed, consisting of non-executive members of the board of directors, provided that at least one of them is an independent member.
The general meeting of the company will - based on a proposal from the Board of Directors - issue the working regulations of the Remuneration Committee, provided that these regulations include the controls and procedures for the work of the committee, its tasks, the rules for selection include its members, the term of their membership and their rewards. A committee called (Nomination Committee) will be formed by a decision of the Board of Directors of the company, consisting of non-executive members of the Board, provided that at least one of them is an independent member. A committee called (Risk Management Committee) will be constituted by a decision of the company's board.
Based on the proposal of the board of directors, the regular assembly determines the policy that ensures the establishment of a balance between its goals and the goals that the community wants to achieve, with the aim of developing social and economic conditions in the community. 42-Results of the annual review of the effectiveness of the company's internal control procedures.
The results of the annual review of the effectiveness of the company's internal control procedures. The audit committee considered the adequacy of the
The company must establish programs for the development and motivation of cooperation and performance in the company, which include in particular: The consulting office was selected by the audit committee based on competence, and the board of directors accepted the position, noting that the audit committee is not subject to the influence of the board of directors or executive management of the company and has full authority to inspect all documents it deems necessary and helps to perform its work in the best way, as the audit committee tries to monitor and review all administrative, operational and financial risks and tries to implement internal regulations and procedures for purpose of internal control in the company. The audit committee also supervises and meets with the RSM, which is based on the work of the internal audit.
Also, the audit committee did not find any material weaknesses affecting the adequacy of the internal control system or any material observations that require disclosure. 43- Recommendations of the Audit Committee that conflict with the decisions of the Board of Directors, or that the Board refused to consider.
Recommendations of the Audit Committee that conflict with the decisions of the Board of Directors, or which the Board refused to take into consideration regarding
Company Auditor
The accounting standards applied in Wafra Company for Industry and Development
There is no difference in the accounting standards applied in Wafra Company for Industry and Development, which is the International Financial Reporting Standards in the Kingdom of Saudi Arabia, and other standards and versions approved by the Saudi Organization for Certified Public Accountants not.
Company subsidiaries
Stocks and debt instruments in subsidiaries
A description of any interest in the class of voting shares
There is a relationship between the company and a related party which is Rakhaa Agricultural Investment and Development Company (a sister company) and the related party is claimed on A.
Contracts concluded between the company and other parties
A statement of any arrangements or agreement under which a member of the Board of Directors or a senior executive waived any salary or compensation
A statement of any arrangements or agreement to assign any rights to profits to one of the company's shareholders
Disciplinary rules and penalties applied to the company
Social Responsibility
Human Resources-
University Student Training
Comprehensive Quality -
Health and safety of employees-
