Zahrat Al Waha for Trading Co. Announces the Results of the Extraordinary General Assembly Meeting, (First Meeting)

22 May Zahrat Al Waha for Trading Co. Announces the Results of the Extraordinary General Assembly Meeting, (First Meeting)

The Ordinary General Assembly meeting was held remotely through contemporary technology from the Company’s office in Riyadh, Rabwah District, Al-Ahsa Street, Building No. 7449, Unit No. 1, on Sunday 21-05-2023 Corresponding to 01-11-1444 and percentage of attending shareholders was 58.54%.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s

1. Reviewing the report of the Board of Directors for the fiscal year ended 31-12-2022.
2. Approval of the external auditor report for the fiscal year ended 31-12-2022.
3. Reviewing the Financial Statement for the fiscal year ended 31-12-2022.
4. Approval of appointment of Dr. Mohamed Al-Amri & Partners Company – Chartered Accountants (BDO)of an external auditor from the nominated offers based on the recommendation of the Audit Committee to audit the financial statement of the second and third quarter and annual statement of the fiscal year 2023, plus the first quarter of the year 2024, and specify his fees.
5. Approval of the Board of Directors recommendation to distribute cash dividends to shareholders for the fiscal year ended 31 December 2022 at a rate of sixty halalas (60) halalas per share this represents 6% of the share par value, with a total amount of 13,500,000 SR which represents 6% of the capital, provided that the eligibility of shareholders who own shares at the end of the trading day of the General Assembly meeting and who are registered in the company’s shareholders’ register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the Eligibility Date, provided that dividend distribution date will be announced later.
6. Approval of the business and contracts that have been concluded between the company and the Hana Company for Food Industries, in which a member of the Board of Directors Mr. Ahmed Hammoud Ibrahim Altheyab has an indirect treatment in it, and it is a contract for the sale of finished goods represented in PET Preform and HDPE Closure of different sizes and weights, selling and buying raw materials and packaging for a year without discrimination or preferential conditions, and the value of the deal during the year 2022 amounted to 61,347,722 SR sales and the amount of 74,721 SR purchases.
7. Approval of the business and contracts that will be concluded during the year 2023 between the company and Hana Food Industries Company, in which a member of the Board of Directors Mr. Ahmed Hammoud Ibrahim Altheyab has an indirect treatment in it, noting these the transaction will be a contract for the sale of finished goods represented in PET Preform, HDPE Closure of different sizes and weights and bottle prints (labels), Shrink, and Stretch film the sale and purchase of raw materials and packaging, for a period of one year, without discrimination or preferential conditions, at an amount of 88,000,000 SR.
8. Approval of the discharge of the Board of Directors members for the fiscal year ended 31-12-2022.
9. Approval of disbursing an amount of 400,000 SR as a reward for the non-executive members of the Board of Directors for the fiscal year ended 31-12-2022.
10. Approval of amending the company’s articles of association in consistent with and conforming to the new companies’ Law.
11. Approval of amending the Company Governance Regulation.
12. Approval of amending the policies and criteria of board membership procedures.
13. Approval of amending the Audit Committee regulation.
14. Approval of amending the Remuneration and Nomination Committee regulation.
15. Approval of amending the Rewards policy for members of the Board of Directors, committees of the Board and the Executive Management.
16. Approval of authorize the Board of Directors to distribute interim dividends to shareholders on Quarterly or midterm basis for the fiscal year 2023.
17. Approval of delegation of powers to the Board of Directors as stipulated in Paragraph No. (1) of Article Twenty-seventh (27) of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the conditions stipulated in the executive regulations. The corporate system for listed joint stock companies.