AME Company for Medical Supplies Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of AME Company for Medical Supplies is pleased to announce the results of the Extraordinary General Assembly meeting held at 7:30 pm on Sunday, 27/11/1446 AH corresponding to 25/05/2025 AD. The meeting was held remotely using modern technology, after the legal quorum for the meeting was achieved. |
| City and Location of the General Assembly's Meeting | At the company's main headquarters in Jeddah - via video and audio communication |
| Date of the General Assembly's Meeting | 2025-05-25 Corresponding to 1446-11-27 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 62.53% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | All Board Members Attended the General Assembly.
Mr. Ammar Ahmed Shata (Chairman of the Board) Mr. Ahmed Saoud Ghouth (Vice Chairman of the Board) Dr. Ali Mohammeddeeb Eed (Managing Director & Board Member) Mr. Hisham Omar Baroom (Board Member) Mr. Adnan Abdullah Alolaya (Board Member) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Mohammed Saleh Alzahrani (Audit Committee Chairman)
Mr. Adnan Abdullah Alolayan (NRC Chairman) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Rejecting the amendment to Article No. (12) of the Company's Articles of Association, related to (Board of Directors Management).
2. Approving the amendment to Article Nineteen of the Company's Articles of Association, related to the quorum for Board of Directors meetings. 3. Reviewing the Board of Directors' report for the fiscal year ending December 31, 2024. 4. Reviewing the financial statements for the fiscal year ending December 31, 2024. 5. Approval of the Company's Auditor's Report for the fiscal year ending December 31, 2024. 6. Approval of the termination of the contract with the Company's current auditor, due to the auditor having exhausted the maximum permitted statutory period, in accordance with Article 3 of the Executive Regulations of the Companies Law issued by the Capital Market Authority regarding listed joint-stock companies. 7. Approval of the selection of Ernst & Young as the Company's auditor from among the candidates, based on the Audit Committee's recommendation, to examine, review, and audit the financial statements for the second and third quarters and annual period of fiscal year 2025, and for the first, second, and third quarters and annual period of fiscal years 2026 and 2027, and to determine their fees. 8. Approval of the discharge of the Board of Directors from liability for the fiscal year 2024. 9. Approval of the premature termination of the current Board of Directors' term on July 30, 2025. 10. Approval of the Board of Directors' recommendation to distribute cash dividends in the amount of (14,000,000) (fourteen million) riyals to shareholders for the financial period ending on (12/31/2024), at a rate of (2) (two) riyals per share, representing (20%) of the capital. Eligibility shall be for shareholders who own shares at the end of trading on the day of the General Assembly meeting and are registered in the company's shareholders' register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date. Dividends will be disbursed to the accounts associated with the portfolios of eligible shareholders, effective from 06/11/2025. 11. Approval of the disbursement of an amount of 660,000 riyals as remuneration to members of the Board of Directors for the fiscal year ending on December 31, 2024. 12. Approval of the amendment to the Board of Directors' Remuneration Policy 13. Approval of the Policy on Standards and Procedures for Nomination to Board Membership |
| Additional Information | If you have any questions, please contact the Investor Relations Department via email at:
investor.relations@ame-ksa.net |
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