Ordinary General Assembly Meeting Middle East Specialized Cables Company
(First meeting )
Held in Riyadh
Through modern technology – remotely Tuesday 03/11/1444
corresponding to 23/05/2023
At 8:00 PM
1- Review and discuss the Board of Directors' report for the financial year ended 31/12/2022 and discussing it 2- Voting on the auditor's report for the fiscal year ending on 31/12/2022 after discussing it.
3- Review and discuss the audited financial statements for the year ended 31/12/2022and discussing it.
4- Voting on the appointment of the Company's auditor from among the candidates based on the recommendation of the Audit Committee to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2023 and the first quarter of the fiscal year 2024 and determine his fees.
5- Voting on the Board of Directors' resolution appointing Mr. Majed bin Ahmed Al-Suwaigh (Independent Member) as a member of the Audit Committee starting from 01/01/2023 until the end of the current committee's work period on 01/07/2025, instead of the previous committee member, Eng. Saad bin Ammash Al-Shammari (Independent Member), provided that the appointment is effective from the date of the recommendation decision issued on 01/01/2023, and this appointment comes in accordance with the work regulations of the audit committee (CV attached).
6- Voting on the Board of Directors' resolution appointing Eng. Hathal bin Safar Al-Otaibi (Independent Member) to the Board of Directors starting from the date of his appointment on 09/04/2023 to complete the Board session until the date of the end of the current session on 01/07/2025, to succeed the previous member, Eng. Saad bin Ammash Al-Shammari (Independent Member) (CV attached).
7- Voting on the transactions and contracts that concluded between the Company and the Middle East Fiber Cable Manufacturing Co. (MEFC) in which BOD members Eng. Suliman Mohammed Alnamlah (non- executive member), have direct interest which is about providing services and businesses. The value of these transaction during 2022 amounting to SR (948,315) without special terms or preference (attached).
8- Voting on the transactions and contracts that concluded between the Company and the Middle East Fiber Cable Manufacturing Co. (MEFC) in which BOD members Eng. Suliman Mohammed Alnamlah (non- executive member), have direct interest which is about purchasing of fiber cables. The value of these transaction during 2022 amounting to SR (5,142,813) without special terms or preference (attached).
9- Voting on the transactions and contracts that concluded between the Company and Contractors Services Company in which BOD member Eng. Mohammed Abdulaziz Alnamlah (non-executive member), have direct interest which is about sales of cables. The value of these transaction during 2022 amounting to SR (472,880) without special terms or preference (attached).
