| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2024-06-23 Corresponding to 1445-12-17 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | Results of voting on Assembly Agenda (Item "5" and Item "6"): |
Item (5): Abstaining from voting to disburse the amount of SAR (150,000) as compensation to the members of the board of directors for the financial year ending 31/12/2023AD.
Item (6): Abstaining from delegating the Board of Directors with the authorization of the General Assembly as permitted in paragraph (1) Article (27) of the Companies Law for a period of one year from the date of approval of the Ordinary General Assembly or until the end of the session of the authorized Board of Directors whichever is the earlier, in accordance with the conditions set out in the Executive regulations of the Listed Public Stocks Companies.
Additional Information:
We would like to draw the attention of the shareholders that due to a notice received by the Chairman of the Assembly regarding a percentage of 50.6% of the shares attending the Assembly, concering failure by the company to block them from electronic voting on items (5) and (6) of the Agenda, and their expressed desire to modify the Electronic Voting on these items.
Since the company was unable to amend the services provided by the Securities Depository Center (Depository - EDAA) after the start of Electronic Voting, the aforesaid shares abstained from voting on items (5) and (6) of the Agenda to complete the Voting Process on other items, which impacted the calculation of the voting results on items (5) and (6) of the Agenda
As Votes Counting Committee was unable to exclude the results of Electronic Voting with abstention from the aforesaid shares on items (5) and (6) of the Agenda and amend the final result of the Electronic Voting Process, the results of the above two items were announced from approval to abstention.
Item (5): Disapproved disbursing a total amount of SAR (150,000) as compensation to the members of the Board of Directors for the financial year ending 31/12/2023AD.
Item (6): Disapproved delegating the Board of Directors with the authorization of the General Assembly as permitted in paragraph (1) Article (27) of the Companies Law for a period of one year from the date of approval of the Ordinary General Assembly or until the end of the session of the authorized Board of Directors whichever is the earlier, in accordance with the conditions set out in the Executive regulations of the Listed Public Stocks Companies.
Additional Information:
We would like to draw the attention of the shareholders that due to a notice received by the Chairman of the Assembly regarding a percentage of 50.6% of the shares attending the Assembly, concerning failure by the company to block them from electronic voting on items (5) and (6) of the Agenda, and their expressed desire to modify the Electronic Voting on these items.
Since the company was unable to amend the services provided by the Securities Depository Center (Depository - EDAA) after the start of Electronic Voting, the aforesaid shares abstained from voting on items (5) and (6) of the Agenda to complete the Voting Process on other items, which impacted the calculation of the voting results on items (5) and (6) of the Agenda. As Votes Counting Committee was unable to exclude the results of Electronic Voting with abstention from the aforesaid shares on items (5) and (6) of the Agenda and amend the final result of the Electronic Voting Process, the results of the above two items were announced from approval to disapproval.
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