The National Agricultural Development Company (NADEC) Invites its Shareholders to Attend the 34th Ordinary General Assembly Meeting (First Meeting) via modern technology means.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of The National Agricultural Development Company (NADEC) is pleased to invite the Company’s shareholders to attend the 34th Ordinary General Meeting Meeting (First Meeting) on Thursday 8:30 PM, in 22-04-2021 corresponding to 10-09-1442 H via modern technology means provided by Tadawulaty, Which is in the support of preventive and precautionary efforts and measures by the competent and relevant health authorities to address the Coronavirus (COVID-19) and as an extension of the continuous efforts made by all government entities in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent the spread. |
| City and Location of the General Assembly's Meeting | Through modern technology means from the Company’s office in Riyadh (using Tadawulaty system). |
| URL for the Meeting Location | https://www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2021-04-22 Corresponding to 1442-09-10 |
| Time of the General Assembly's Meeting | 21:30 |
| Attendance Eligibility | Each shareholder who is registered in the Company’s Shareholders Register at the Securities Depository Center at the end of the trading session preceding the General Assembly meeting has the right to register electronic attendance and vote using the Tadawulaty system at the Assembly meeting, according to the rules and regulations. |
| Quorum for Convening the General Assembly's Meeting | The General assembly meeting is valid if it is attended by shareholders representing at least a quarter of the capital. If there is no quorum for this meeting, the second meeting will be held one hour after the expiry of the duration of the first meeting, and the second meeting shall be valid regardless of the number of shares represented in it. |
| General Assembly Meeting Agenda | 1- Voting on the Financial Statements as of 12/31/2020. |
2- Voting on the Auditor's report as of 12/31/2020. (Attached)
3- Voting on Board of Directors’ Report as of 12/31/2020.
4- Voting on the Audit Committee Report as of 12/31/2020. (Attached)
5- Voting on appointing the company’s External Auditor from among the candidates according to the Audit committee’s recommendation, in order to examine, review and audit the Financial Statements for the second, third and annual quarters of the Fiscal year 2021, and the first quarter of 2022, and determine their fees. (Attached)
6- Voting on absolving of the Board of Directors members from liability as of 12/31/2020.
7 – Voting on the disbursement an amount of SAR 1,750,000 as a bonus to the members of the board of directors for the Fiscal Year 2020 , as of SAR 250,000 for each member.
8- Voting on the business and contracts that have been concluded between the company and the Seera Group Holding Company (formerly Al-Tayyar Travel Group Company) according to the agreed terms of the contract in which the Chairman of the Board of Directors Mr. Mazen bin Ahmed Al-Jubeir (non-executive member) has an indirect interest in it, as the Chairman of the Board of Directors Mr. Mazen bin Ahmed Al-Jubeir is a member of the Board of Directors of the Seera Group Holding Company, and these transactions are represented in providing travel services to (Nadec) company, noting that the value of the transaction during the year 2020 is SAR 2,944,109 and the duration of the transaction is annual. (Attached)
9- Voting on the works and contracts that will be concluded between the company and the National Agricultural Company according to the contractual terms recognized by the Vice-Chairman of the Board of Directors. Eng. Ibrahim bin Muhammad AboAbat has an indirect interest in it, as the Vice Chairman, Eng. Ibrahim bin Muhammad AboAbat, is a member of the Board of Directors of the National Agricultural Company, and these transactions are selling olive oil to the Nadec company, the value of the transaction is (NONE) during the year 2020 AD The duration of the transaction is annual. (Attached)
10 - Voting on the business and contracts that have been concluded between the company and the Takween Advanced Industries Company according to the customary contracting conditions in which a member of the Board of Directors Dr. Sulaiman bin Abdulaziz Al-Tuwaijri has an indirect interest in it, as a member of the Board of Directors Dr. Sulaiman bin Abdulaziz Al-Tuwaijri is a member of the Board of Directors of Takween Company The advanced industries, these transactions are selling plastic materials to (Nadec) company, noting that the value of the transaction during the year 2020 is SAR 27,546,635 and the duration of the transaction is annual. (Attached)
11- Voting on the participation of the Vice-Chairman of the Board of Directors, Eng. Ibrahim bin Muhammad AboAbat, in competing businesses with the company's business. (Attached)
Registration and voting in my trading services will be available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa
TEL: 011-2027830
E-Mail: IR@nadec.com.sa
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.