The National Agricultural Development Company (NADEC) Invites its Shareholders to Attend the 35th 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 35th Ordinary General Meeting (First Meeting) on Tuesday 06:30 PM, in 07/06/2022 AD corresponding to 08/11/1443 H via modern technology means provided by Tadawulaty. |
| 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 | 2022-06-07 Corresponding to 1443-11-08 |
| Time of the General Assembly's Meeting | 18:30 |
| 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 12/31/2021. |
2- Voting on the Auditor's report as of 12/31/2021. (Attached)
3- Voting on Board of Directors’ Report as of 12/31/2021.
4- Voting on the Audit Committee Report as of 12/31/2021. (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 2022, the first quarter of 2023, and the first quarter of 2024, and determine their fees. (Attached).
6- Voting on absolving of the Board of Directors members from liability as of 12/31/2021.
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 2021, as of SAR 250,000 for each member.
8- Voting on the business and contracts that have been concluded between the company and Abdullah AlOthaim Markets Co. according to the agreed terms of the contract in which the Chairman of the Board of Directors Mr. Abdulaziz bin Saleh Al-Rebdi (non-executive member) has an indirect interest in it, as the Chairman of the Board of Directors Mr. Abdulaziz bin Saleh Al-Rebdi is a member of the Board of Directors of Abdullah AlOthaim Markets Co, and these transactions are represented in selling Nadec products, noting that the value of the transaction during the year 2021 is SAR 79,413,662 and the duration of the transaction is annual. (Attached)
9- 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 Mr. Saleh bin Hasan Alafaliq has an indirect interest in it, as a member of the Board of Directors Mr. Saleh bin Hasan Alafaliq 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 2021 is SAR 25,600,093 and the duration of the transaction is annual. (Attached)
10- Voting on the works and contracts that have been concluded between the company and AlKifah Holding Company on the contractual terms recognized by the member of the Board of Directors Mr. Saleh bin Hasan Alafaliq has a direct interest in it, as as a member of the Board of Directors, Mr. Saleh bin Hasan Alafaliq, is a member of the Board of Directors of AlKifah Holding Company, and these transactions are selling packaging material to the Nadec company, the value of the transaction during the year 2021 AD is SAR 6,896,418 and the duration of the transaction is annual. (Attached)
11- Voting on the works and contracts that have been concluded between the company and Al-Watania Poultry Company on the contractual terms recognized by the member of the Board of Directors. Mr. Bader bin AbdulRahman Al-Sayyari has an indirect interest in it, as a member of the Board of Directors, Mr. Bader bin AbdulRahman Al-Sayyari, is representing a related party shareholder in Al-Watania Poultry Company, and these transactions are selling animal feed to the Nadec company, the value of the transaction during the year 2021 AD is SAR 7,689,680 and the duration of the transaction is annual. (Attached)
12- Voting on the Board’s resolution to appoint Mr. Abdulaziz bin Mohammed Al-Raqeeb as an Independent board member starting from 05/04/2022 to complete the Board term until the end of the current term on 10/04/2024, succeeding the former member Dr. Sulaiman bin Abdulaziz Al-Tuwaijri (Executive member). (CV attached)
13- Approval of authorizing the Board of Directors with the authority of the ordinary General Assembly provided for in paragraph (1), Article (71) of the Companies Law for a period of one (1) year from the date of approval by the General Assembly or until the end of the session of the authorized Board of Directors, whichever is earlier. Such authorization shall be made in accordance with the conditions stipulated in the regulatory controls and procedures issued in implementation of the Companies Law related to listed joint-stock companies.
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
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.