The Board of Directors of the Mineral Energies Trading Company invites its shareholders to attend the extraordinary general assembly meeting (first meeting) through modern technological means.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Mineral Energies Trading Company is pleased to invite the honorable shareholders to participate and vote in the Extraordinary General Assembly meeting (the first meeting), which is scheduled to be held using modern means of purification, God Almighty willing, at exactly (19:35) on Sunday, 12/24/1445 AH corresponding to 06/30/2024 AD |
| City and Location of the General Assembly's Meeting | At the company’s main headquarters located in Riyadh - Al-Musfat District - Abi Nasr Al-Dabbas, through modern technological means |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-06-30 Corresponding to 1445-12-24 |
| Time of the General Assembly’s Meeting | 19:35 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | The right to attend shall be for shareholders registered in the register of shareholders of the issuer at the Depository Center at the end of the trading session that precedes the General Assembly meeting and in accordance with the rules and regulations. The right to register attendance for the Assembly meeting ends at the time of the Assembly meeting, and the right to vote on the Assembly items for those present ends when the screening committee finishes categorizing voices. |
| Quorum for Convening the General Assembly's Meeting | According to Article (36) of the company’s bylaws, the extraordinary general assembly meeting will not be valid unless it is attended by shareholders representing at least half of the company’s shares that have voting rights. If this quorum is not present at the first meeting, the second meeting will be held one hour after the end of the period specified for the meeting. The first meeting. In all cases, the second meeting is valid if it is attended by shareholders representing at least a quarter of the company’s shares that have voting rights. |
| General Assembly Meeting Agenda | 1. Vote on the company’s auditor’s report for the financial year ending on December 31, 2023, after discussing it.
2. Reviewing the Board of Directors’ report for the financial year ending on December 31, 2023 AD and discussing it. 3. Review and discuss the company’s financial statements for the fiscal year ending on December 31, 2023. 4. Vote on discharging the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023 AD. 5. Vote on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements for the first and annual half of the fiscal year 2024, and determine his fees. 6. Vote on delegating the authority of the Ordinary General Assembly to the Board of Directors with the authorization contained in Paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the session of the delegated Board of Directors, whichever comes first, in accordance with the conditions stated in the Executive Regulations. The corporate system for listed joint stock companies. 7. Vote on disbursing an amount of (100,000) one hundred thousand riyals as a reward to members of the Board of Directors for the financial year ending on 12/31/2023 AD. 8. Voting on the business and contracts concluded between the company and the Fahd Abdullah Al-Khunaini Real Estate Foundation, in which the Chairman of the Board of Directors (Mr. Fahd Abdullah Abdulaziz Al-Khunaini) has an indirect interest, and they are transactions (sales and lasting for a year), noting that the contract began in the year 2022 AD and the value of the transactions During the year 2022 AD, it is an amount of (14,490) riyals and transactions (purchases), and the value of transactions during the year 2022 AD is an amount of (773,124) riyals, and the value of the amount paid during the year 2022 AD is an amount of (758,634) riyals, and the final balance for the year 2022 AD is (zero) riyals, and these transactions take place in the context of business. Ordinary and in accordance with prevailing commercial terms and without any preferential terms (attached) 9. Voting on the business and contracts concluded between the company and the Chairman of the Board of Directors (Mr. Fahd Abdullah Abdulaziz Al-Khunaini) in which he has a direct interest. These are transactions (purchases lasting one year), noting that the contract began in the year 2023 AD and the value of the transactions during the year 2023 AD is an amount (50,477,873) riyals, and the value of the amount paid during the year 2023 is (503,414) riyals, and the final balance for the year 2023 is (36,094,655) riyals. These transactions are carried out in the normal course of business and in accordance with prevailing commercial conditions and without any preferential terms (attached) 10. Vote on amending the work regulations of the Audit Committee (attached). 11. Vote on amending Article (4) of the company’s bylaws related to the company’s purposes (attached) 12. Voting on amending Article (10) of the company’s bylaws related to the powers of the Council (attached) 13. Voting on amending Article (12) of the company’s bylaws related to the powers of the president, deputy, managing director, and secretary (attached) 14. Voting on adding an article to the company’s bylaws No. (15) related to (the company’s purchase, sale, and mortgage of its shares) (attached) 15. Voting on adding an article to the company’s bylaws No. (18) related to (bonds and instruments) (attached) 16. Vote on amending the company’s bylaws in accordance with the new companies’ bylaws, and rearranging and numbering the bylaws’ articles; To comply with the proposed amendments (attached). |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Honorable shareholders have the right to discuss the topics included in the agenda of the extraordinary general assembly and ask questions, noting that voting in Tadawulaty services is available free of charge to all shareholders using the following link: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawulati services can vote electronically remotely on the assembly’s items starting at 1:00 am on Wednesday 12/20/1445 AH corresponding to 06/26/2024 AD until the end of the assembly’s meeting time. Registration and voting in Tadawulati services will be available and free of charge to all shareholders using The following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | If there are any inquiries, please contact us via email
a.alaklabi@taqatco.sa Or contact the number: 0510020302 |
| Attached Documents | |
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