Zahrat Al Waha for Trading Co. Announces the Results of the Ordinary 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 Monday 04-26-2021 corresponding to 09-14-1442 and percentage of attending shareholders was 59.14%.

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

1. Approval of the annual report for the fiscal year ending 31 December 2020,
2. Approval of the external auditor report for the fiscal year ending 31 December 2020.
3. Approval of the Financial Statement of the fiscal year ending 31 December 2020.
4. Approval of the appointment of KPMG Al Fozan & Partners Certified Public Accountants (KPMG Professional Services) of an external auditor in accordance with the recommendation of the Audit Committee for the financial audit and review of the Company’s financial statements for the second, third, fourth, and 2021 year end, and the first quarter of 2022 and determining their fees.
5. Approval of the Board of Directors recommendation to distribute cash dividends to shareholders for the fiscal year ending on December 31, 2020 at a rate of one (1) SR per share this represents 10% of the share par value, with a total amount of 15,000,000 SR which represents 10% 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 a direct and 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 2020 amounted to 58,940,692 SR sales and the amount of 113,367 SR purchases.
7. Approval of the business and contracts that will be concluded between the company and Hana Food Industries Company, in which a member of the Board of Directors Mr. Ahmed Hammoud Ibrahim Altheyab has a direct and 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), the sale and purchase of raw materials and packaging, for a period of one year, without discrimination or preferential conditions, at an amount of 80,000,000 SR.
8. Approval of absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2020.
9. Approval of amending the Audit Committee regulation.
10. Approval of amending the Nomination and Remuneration Committee regulation
11. Approval of amending the rewards policy for members of the Board of Directors, committees of the Board and the Executive Management.
12. Approval of the policies and criteria of board membership procedures.
13. Rejected for disburse an amount of 225,000 SR as a bonus for independent members of the Board of Directors for the fiscal year 2020.
14. Approval of authorize the Board of Directors to distribute interim dividends to shareholders on Quarterly or midterm basis for the fiscal year 2021.
15. Approval of delegation of powers to the Board of Directors as stipulated in Paragraph (1) of Article 71 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 regulatory rules and procedures issued pursuant to the Companies Law relating to listed Joint Stock Companies.

Additional Information

Item No. 13 will be presented to a general assembly meeting later.