Waja Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Announcement by Waja Company to its shareholders of the results of the non-social general meetings (first meeting), which was held at exactly (19:15) on Monday, 11/28/1446 AH corresponding to 05/26/2025 AD at the company’s main headquarters located in Riyadh, King Fahd Specialized - Al-Anoud Tower 2, through technical means (remotely) - using my services; and that is after the legal quorum of the contractual contract |
| City and Location of the General Assembly's Meeting | The company's main headquarters is located in Riyadh, on King Fahd Road - Al Anoud Tower 2, via modern technology (remotely) - using Tadawulati services. |
| Date of the General Assembly's Meeting | 2025-05-26 Corresponding to 1446-11-28 |
| Time of the General Assembly’s Meeting | 19:15 |
| Percentage of Attending Shareholders | %69.73 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Chairman : Eng. Ibrahim Abdullah Abdulsalam
2. Vice Chairman: Mr. Mohammed Abdulaziz Al-Sharif 3. Board Members: Mr. Nasser Abdulaziz Al-Suhail 4. Board Members: Mr. Sultan Ahmed Al-Mousa |
| 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. Mohammed Abdul Aziz Mohammed Al Sharif - Chairman of the Audit Committee
2. Mr. Sultan Ahmed Abdul Aziz Al Mousa - Chairman of the Nominations and Remuneration Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the company's auditors' report for the fiscal year ending December 31, 2024, after discussion.
2. The Board of Directors' report for the fiscal year ending December 31, 2024, was reviewed and discussed. 3. The company's financial statements for the fiscal year ending December 31, 2024, were reviewed and discussed. 4. Approval of the discharge of the members of the Board of Directors from liability for the fiscal year ending December 31, 2024. 5. Approval of the appointment of Al-Sayed Al-Ayouti & Partners, Certified Public Accountants, as the company's auditors, from among the candidates nominated based on the Audit Committee's recommendation. This appointment will be to examine, review, and audit the interim financial statements for the first, second, and third quarters of the fiscal year 2025, the annual financial statements ending December 31, 2025, and the interim financial statements for the first quarter of the fiscal year 2026, for a fee of (345,000) three hundred and forty-five thousand Saudi riyals. 6. Approval of the Board of Directors' authorization to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year ending December 31, 2025. 7. Approval of the Board of Directors' authorization of the Ordinary General Assembly's authority to authorize the Board of Directors under paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of approval by the General Assembly or until the end of the term of the authorized Board of Directors, whichever is earlier, in accordance with the conditions stipulated in the Executive Regulations of the Companies Law for listed joint-stock companies. 8. Approval of the transfer of the statutory reserve balance of SAR 3,905,715, as of the annual financial statements ending December 31, 2024, to the retained earnings balance. 9. Approval of the transactions and contracts concluded between the Company and the Chairman of the Board of Directors (Mr. Ibrahim Abdullah Abdul Salam), in which he has a direct interest. These transactions are in the form of (shareholder financing). These transactions commenced in 2023. The value of transactions during 2024 is SAR 47,314,000 (debit transactions). The amount paid during 2024 is SAR 36,714,000 (credit transactions). The final balance for 2024 is SAR 10,600,000 as a creditor. These transactions are conducted in accordance with prevailing commercial terms and without any preferential conditions. 10. Approval of the Chairman of the Board of Directors, Mr. Ibrahim Abdullah Abdul Salam, participating in a business that competes with the Company's business. 11. Approval of the amendment to the Audit Committee's bylaws. 12. Approval of the Board of Directors' Membership Standards Policy. 13. Approval of the Conflict of Interest and Competition Policy. |
Comments