Ataa Educational Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Ataa Educational Company is pleased to announce the results of its Extraordinary
General Assembly Meeting (First Meeting), which was held at 6:30 PM on Monday, 13/07/1446H (corresponding to 13/01/2025), using modern technology. |
| City and Location of the General Assembly's Meeting | Ataa’s Head Office at Riyadh, Al-Izdihar district - through means of modern technology |
| Date of the General Assembly's Meeting | 2025-01-13 Corresponding to 1446-07-13 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 66.90496 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the meeting:
Mr. Mohammed bin Ali Al-Otaifi Ms. Farah bint Ahmed Al-Mutib Mr. Abdul-Ilah bin Saleh Al-Sheikh Mr. Abdulaziz bin Saeed Al-Omari Mr. Othman bin Tariq Al-Kasabi Mr. Khaled bin Nasser Al-Moammar Ms. Reem bint Ahmed Al-Mutib Dr. Abdulrahman bin Mohammed Al-Barak
Apologized for not being able to attend the meeting:
Eng. Tariq bin Othman Al-Kasabi (Chairman of the Board of Directors) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following committee chairs or their representatives attended the meeting:
1. Mr. Othman bin Tariq Al-Kasabi (Chairman of the Executive and Investment Committee)
2. Mr. Abdul-Ilah bin Saleh Al-Sheikh (Chairman of the Audit Committee)
3. Dr. Abdulrahman bin Mohammed Al-Barak (Chairman of the Nominations and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | First item: The Board of Directors’ report for the fiscal year ending July 31, 2024, was reviewed and discussed.
Second item: Approval of the company's auditor's report for the fiscal year ending 31 July 2024.
Third item: the company’s financial statements for the fiscal year ending on 07/31/2024 Was reviewed and discussed.
Fourth item: Approval to discharge the Board members from their liabilities for the fiscal year ending 31 July 2024.
Fifth item: Approval of the Board's recommendation to distribute dividends to shareholders for the fiscal year ending 31 July 2024, amounting to SAR 52,609,019, at SAR 1.25 per share (12.5% of the paid-up capital). Entitlement is for shareholders registered at the end of the trading day of the General Assembly meeting and in the shareholders' registry two trading days after the entitlement date. The dividend distribution date will be announced later.
Sixth Item: Approval of transactions and contracts between the company and Dr. Ahmed bin Nasser Al-Mutib during the fiscal year ending 31 July 2024, in which Board members Ms. Farah bint Ahmed Al-Mutib and Ms. Reem bint Ahmed Al-Mutib have indirect interests. These are lease contracts for Middle East complexes valued at SAR 12,638,000 without preferential terms.
Seventh Item: Approval to allocate SAR 1,350,000 as remuneration for Board members at SAR 150,000 per member for the fiscal year ending 31 July 2024.
Eighth Item: Approval to appoint RSM Allied Accountants as the company's external auditors for the second, third, and fourth quarters and the annual financial statements for the fiscal year ending 31 July 2025, as well as the first quarter of the fiscal year ending 31 July 2026, and determining their fees at SAR 1,367,000.
Ninth Item: Approval to elect Board members for the new term starting 14 January 2025 and ending 13 January 2028. Namely:
1- Tariq bin Othman Al-Kasabi 2- Khaled bin Nasser Al-Moammar 3- Othman bin Tariq Al-Kasabi 4- Tariq bin Abdulaziz Al-Rasheed 5- Mishari bin Naji Al-Ibrahim 6- Reem bint Ahmed Al-Mutib 7- Farah bint Ahmed Al-Mutib 8- Ali bin Fawaz Al-Tamimi 9- Mohammed bin Ali Al-Otaifi
Tenth Item: Approval of amendments to the company's Articles of Association to align with the new Companies Law and renumber its articles accordingly.
Eleventh Item: Approval of amendments to Article (3) of the Articles of Association related to the company's objectives. |
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