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Saudi Electricity Co. Announces the Results of the 10th Extraordinary General Assembly Meeting, (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Electricity Company is pleased to announce to its valued shareholders the results of the 10th Extraordinary General Assembly Meeting (First Meeting) |
| City and Location of the General Assembly's Meeting | Through modern technology from the Company’s headquarters in Riyadh (via Tadawulaty platform) |
| Date of the General Assembly's Meeting | 2024-04-16 Corresponding to 1445-10-07 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 86.97 |
| 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: 1- H.E. Dr. Najm Abduallah Alzaid(Chairman) 2- Mr. Walid Ibrahim Shukri 3- Mr. Khalid Salem Alrowais 4- Mr. Mohammed Abdulrahman Albalaihed 5- Dr. Mohammed Saeed Owayedh 6- Eng. Abdulaziz Ahmed Al-Naim 7- Eng. Scott Mathew Prochazka 8- Mr. Cheong, Seung-IL The following members failed to attend the General Assembly meeting: 1- Dr. Raed Nasser Alrayes(Vice- Chairman) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Dr. Najm Abduallah Alzaid (Chairman of the Executive Committee) 2- Mr. Mohammed Abdulrahman Albalaihed (Chairman of the Nomination and Remuneration Committee) 3- Mr. Walid Ibrahim Shukri (Chairman of the Risk and Compliance Committee) 4- Mr. Khalid Salem Alrowais (Chairman of the Audit Committee) 5- Eng. Abdulaziz Ahmed Al-Naim (Chairman of Health, Safety, Security, Environment and Sustainability Committee) 6- Dr. Mohammed Saeed Owayedh (Chairman of the Technical Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approve the transferring the balance of the statutory reserve amonting to (SAR 7,105,975,171.12) seven billion one hundred five million nine hundred seventy-five thousand one hundred seventy-one Saudi riyals and twelve halalas as in the financnial statements of the year ended on 31 December 2022. 2- Approve the transferring the balance of the genral reserve amonting to (SAR 702,343,122.73) seven hundred two million three hundred forty-three thousand one hundred twenty-two Saudi riyals and seventy-three halalas as in the financnial statements of the year ended on 31 December 2022. 3- Approve the amending the Remuneration Policy for Members the Board, its Committees, and the Executive Management. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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