Al Kathiri Holding Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Al Kathiri Holding Company announces the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 7:30 PM on Thursday, 17 Dhul-Qi'dah 1446H, corresponding to 15 May 2025, via modern technology through the Tadawulaty system. The meeting was held after the quorum for the first meeting was met, reaching 40.28%. |
| City and Location of the General Assembly's Meeting | The company's main headquarters - 3158 Green Offices - Prince Yazid bin Abdullah bin Abdul Rahman Road Al-Malqa district in Riyadh - Via modern technology means only. |
| Date of the General Assembly's Meeting | 2025-05-15 Corresponding to 1446-11-17 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 40.28 % |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following members of the Board of Directors attended the meeting:
1) Mr. Khaled Abdel-Mohsen Abdel-Rahman Al-Khayal (Chairman of the Board of Directors) 2) Mr. Saud Mohammed Abdullah Al Shuraym (Vice Chairman of the Board of Directors) 3) Mr. Meshal Mohammed Nasser Alkathiri (Managing Board Member and CEO) 4) Mr. Abdullah Abdulrahman abdullah Al Shaikh (Member of the Board of Directors) And none of the members of the Board was absent from attending the meeting |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1) Mr. Saud Mohammed Abdullah Al Shraim (Chairman of the Nominations and Remunerations Committee)
2) Mr. Ahmed Nasser Ahmed Al-Sayegh (Chairman of the Audit Committee) No one was absent |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1 - The Board of Directors' report for the FY ending on December 31, 2024 has been reviewed and discussed.
2- The company's financial statements for the FY ending on December 31, 2024G has been reviewed and discussed. 3 – Approval of on the company's auditor report for the FY ending on December 31, 2024 4 - Approval the appointment of Al Kharashi & Co. Certified Accountants and Auditors, as auditor for the company from among the nominees based on the Audit Committee's recommendation; to examine, review, audit the financial statements for the second, third quarters, and annual of the FY 2025G and the first quarter of the fiscal year 2026G, and determine their fees in the amount of SAR 600,000 excluding the VAT. 5 - Approval on the transactions and contracts between Msandh Al-Emdad Limited Company (100% owned by Alkathiri Holding Company) and Alian Industry Company (99% owned by Alkathiri Holding Company), in which Board Member Mr. Meshal Mohamed Nasser Alkathiri has an indirect interest as a Board Member in both companies. The total value of the transactions during the fiscal year ended December 31, 2024, amounted to SAR 41,411,966. These included purchases and mutual dealings conducted in the ordinary course of business and under prevailing commercial terms without any preferential conditions. 6 - Approval on the transactions and contracts between The Luxury Yacht Industrial Company (100% owned by Alkathiri Holding Company) and Alian Industry Company, in which Board Member Mr. Meshal Mohamed Nasser Alkathiri has an indirect interest as a Board Member in both companies. The total value of the transactions during the fiscal year ended December 31, 2024, amounted to SAR 19,483, conducted in the ordinary course of business and under prevailing commercial terms without any preferential conditions. 7 - Approval on the transactions and contracts between Alkathiri Holding Company and Alian Industry Company, in which Board Member Mr. Meshal Mohamed Nasser Alkathiri has an indirect interest as a Board Member in both companies. The total value of the transactions during the fiscal year ended December 31, 2024, amounted to SAR 11,453,151, which are regular business transactions carried out in accordance with the Company’s policies and without any preferential terms. 8 -Approval on authorize the Board of Directors with the Shareholders General Assembly authority with the rights mentioned in paragraph (1) of Article (27) of the Companies Law for one year from the date of approval of the Shareholders General Assembly or until the end of the session of the authorized the Board of Directors, whichever is earlier, in accordance with the conditions mentioned in the executive regulation of the Companies Law for Listed Joint Stock Companies. |
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