Ordinary General Assembly’s Meeting Results 24/05/2023
Item 1: the financial statements for the fiscal year ending 31/12/2022 have been reviewed and discussed.
Item 2: Approval on the auditor's report for the fiscal year ending 31/12/2022 After discussing it.
Item 3: The Board of Directors' report for the fiscal year ending 31/12/2022 has been reviewed and discussed.
Item 4: Approval on appointing auditors for the company from among the candidates based on the recommendation of the Board of Directors 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 their fees, and they are:
- Price Waterhouse Company (PwC) - Al-Kharashi Company
Item 5: Disapproval on disburse an amount of (3,323,889) Saudi riyals as a bonus to the members of the Board of Directors for the fiscal year ending on December 31, 2022
Item 6: Approval on the Board of Directors’ Resolution to appoint the following members of the Audit Committee, starting from 12-12-2022 until the end of the current committee’s work period on 10-26-2023.
1. Dr. Muhammad bin Abdulrahman Al-Jabreen (Chairman of the Committee, an independent member from within the Bord)
2. Mr. Khaled Muqbel Al-Muqbel (committee member, independent member from outside the Board)
3. Mr. Ahmed Mohamed Dakhil (committee member, independent member from outside the Board)
This is in place of the previous resigned committee members whose names are shown below:
1. Mr. Sultan Khaled Al-Turki (Chairman of the Committee, an independent member from within the Board)
2. Mr. Saud Saleh Al-Arifi (committee member, independent member from outside the Board)
3. Mr. Muhammad Salih Al-Ghamdi (committee member, independent member from outside the Board)
4. Mr. Hossam Faisal Baward (committee member, independent member from outside the Board)
Provided that the appointment will take effect from the date of the decision issued on 12/12/2022, and this appointment comes in accordance with the Audit Committee’s work regulations. (CV attached)
Item 7: Approval on the business and contracts concluded between the company and the Abdul Rahman Ali Al-Turki group of companies, in which the former board member, Mr. Fahd bin Abdulrahman Al-Turki, has an indirect interest. These are insurance premiums for a year for 997,402 Saudi riyals for the year 2022. This agreement does not have any preferential conditions. .
Item 8: Approval on the business and contracts that took place between the company and the Abdul Rahman Ali Al-Turki group of companies, in which the former board member, Mr.
Fahd bin Abdul Rahman Al-Turki, has an indirect interest, which is a share of the total claims for a year against 99,520 Saudi riyals for the year 2022. This agreement does not have any preferential terms.
Item 9: Approval on the business and contracts concluded between the company and the Abdul Rahman Ali Al-Turki group of companies, in which the former board member, Mr. Fahd bin Abdulrahman Al-Turki, has an indirect interest, which is about renting offices for a year for 334,534 Saudi riyals for the year 2022 AD. There are no preferential conditions for this agreement.
Item 10: Disapproval on business and contracts concluded between the company and Al-Saqr National Insurance Company (Dubai) in which the members of the Board of Directors Mr.
Abdullah bin Juma Al-Sari, Mr. Majid bin Abdullah Al-Sari, Mr. Abdul Mohsen bin Nafez Jaber and Mr. Sultan bin Abdulaziz Al-Suwaidi have an indirect interest in it, which is a phrase For reinsurance premiums for a year, for 4,371 Saudi riyals for the year 2022, and this agreement does not have any preferential terms.
Item 11: Disapproval on business and contracts concluded between the company and Al-Saqr National Insurance Company (Dubai) in which the members of the Board of Directors Mr.
Abdullah bin Juma Al-Sari, Mr. Majid bin Abdullah Al-Sari, Mr. Abdul Mohsen bin Nafez Jaber and Mr. Sultan bin Abdulaziz Al-Suwaidi have an indirect interest in it, which is a phrase For reinsurers’ share of paid claims, insurance for a period of one year, for 243,036 Saudi riyals for the year 2022. This agreement does not have any preferential terms.
Item 12: Disapproval on business and contracts concluded between the company and Al-Saqr National Insurance Company (Dubai) in which the members of the Board of Directors Mr.
Abdullah bin Juma Al-Sari, Mr. Majid bin Abdullah Al-Sari, Mr. Abdul Mohsen bin Nafez Jaber and Mr. Sultan bin Abdulaziz Al-Suwaidi have an indirect interest in it, which is a phrase For reinsurance commissions from paid claims, insurance for a period of one year, for 15,964 Saudi riyals for the year 2022. This agreement does not have any preferential terms.
Item 13: Disapproval on and contracts concluded between the company and Al-Saqr National Insurance Company (Dubai) in which the members of the Board of Directors Mr. Abdullah bin Juma Al-Sari, Mr. Majid bin Abdullah Al-Sari, Mr. Abdul Mohsen bin Nafez Jaber and Mr. Sultan bin Abdulaziz Al-Suwaidi have an indirect interest in it, which is a phrase For other administrative expenses for a year, for 9,005 Saudi riyals for the year 2022, and this agreement does not have any preferential terms.
Item 14: Approval on the business and contracts concluded between the company and the Abdullah Al-Bassam group of companies, in which the former board member, Mr. Abdullah Al-Bassam, has an indirect interest. These are insurance premiums for a year for 128,288 Saudi riyals for the year 2022. There are no preferential conditions for this agreement.
Item 15: Approval on the business and contracts concluded between the company and the Abdullah Al-Bassam group of companies, in which the former board member, Mr. Abdullah Al-Bassam, has an indirect interest, which is a share of the total claims for a year against 11,624 Saudi riyals for the year 2022. This agreement does not have any preferential conditions.
