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Mouwasat Medical Services Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the ( First Meeting ) by Means of Modern Technology
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Mouwasat Medical Services Co. is pleased to invite the honorable shareholders to participate and vote in the Ordinary General Assembly Meeting (First Meeting), which is scheduled to be held, God willing, at 06:30 pm on Monday 27/05/2024 through modern technology. |
| City and Location of the General Assembly's Meeting | Through modern technology from the company's headquarters - Dammam |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-05-27 Corresponding to 1445-11-19 |
| Time of the General Assembly’s Meeting | 18:30 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | The shareholder registered in the Company's shareholders register at the Depository Center at the end of the trading session preceding the General Assembly Meeting shall have the right to attend the General Assembly Meeting in accordance with the laws and regulations. Also, the eligibility for registering the attendance of the General Assembly’s Meeting ends upon the convenience of the General Assembly’s meeting. Eligibility for Voting on the business of the meeting agenda ends upon the counting committee concludes counting the votes. |
| Quorum for Convening the General Assembly's Meeting | The general assembly meeting shall be valid if attended by shareholders representing at least one quarter of the capital. |
| General Assembly Meeting Agenda | 1- To review and discuss the Board of Directors’ report for the fiscal year ended December 31,2023. 2- Voting on the auditor report on the Company’s accounts for the fiscal year ended December 31,2023 after discussing it. 3- To review and discuss the financial statements for the fiscal year ended December 31,2023. 4- Voting on appointing the Auditor for the Company from among nominees based on the Audit Committee’s recommendation. The appointed auditor shall examine, review, and audit the (second and third) quarter and annual financial statements, of the fiscal year 2024, and the first quarter of fiscal year 2025, and the determination of the auditor’s fees. 5- Voting on the Board’s recommendation to distribute cash dividends amounting to SR 350 million to the shareholders for the fiscal year ended 31/12/2023 at SR 1.75 per share representing 17.5% of the nominal value of the share. Provided that the entitlement is for shareholders holding the shares by the end of the trading day of Assembly date, and who are registered in the Company's Shareholders Registry held with the Security Depository Center Company (Edaa) at the end of the second trading day following the entitlement date, the distribution date will be announced later. 6- Voting on the business and contracts that will be concluded between the Company and Mouwasat International Co. Limited, in which the Board members Mr. Mohammed Sultan Al Subaie and Mr. Nasser Sultan Al Subaie have a direct interest, and the Board member Mr. Mohammed Suleiman Al Saleem has an indirect interest, and the nature of transaction is a rental contract of a residential for the Company's employees in Dammam and Jubail according to the Company's procurement system without preferential terms, with the value of transactions in 2023 amounted to SR 2,676,000. (Attached) 7- Voting on the business and contracts that will be concluded between the Company and Mouwasat international Co. limited, in which the Board members Mr. Mohammed Sultan Al Subaie and Mr. Nasser Sultan Al Subaie have a direct interest, and the Board member Mr. Mohammed Suleiman Al Saleem has an indirect interest, and the nature of transaction is for medical and pharmaceutical supplies in accordance with the Company's procurement system without preferential terms, value of transactions during 2023 amounted to SR 18,704,097. (Attached) 8- Voting on the business and contracts that will be concluded between the Company and Mouwasat International Co. limited, in which the Board members Mr. Mohammed Sultan Al Subaie and Mr. Nasser Sultan Al Subaie have a direct interest, and the Board member Mr. Mohammed Suleiman Al Saleem has an indirect interest, and the nature of transaction is for tickets and tourism and travel services according to the Company's system without preferential terms, noting that the value of transactions during 2023 amounted to SR 12,497,752. (Attached) 9- Voting on the business and contracts that will be concluded between the Company and Mouwasat International Co. limited, in which the members of the of Directors Mr. Mohammed Sultan Al Subaie and Mr. Nasser Sultan Al Subaie have a direct interest, and the Board member Mr. Mohammed Suleiman Al Saleem has an indirect interest, and the nature of transaction is the logistics and other services in accordance with the Company's system without preferential terms, noting that the value of transactions during 2023 amounted to SR 655,327. (Attached) 10- Voting on the business and contracts that will be concluded between the Company and Mouwasat International Co. limited, in which the Board members Mr. Mohammed Sultan Al Subaie and Mr. Nasser Sultan Al Subaie have a direct interest, and the Board member Mr. Mohammed Sulaiman Al Saleem has an indirect interest, and the nature of transaction is the supply and installation of stainless steel works in accordance with the Company's procurement system without preferential terms, with the value of transactions during 2023 amounted to SR 1,666,565. (Attached) 11- Voting on the business and contracts that will be concluded between the Company and Advision for trading Est., in which the Board member Mr. Khalid Suleiman Al Saleem has an indirect interest, and the nature of transactions are of advertising and marketing related in accordance with the Company's procurement system without preferential terms, value of transactions during 2023 amounted to SR 29,996,015. (Attached) 12- Voting on to release Board members from liability for the period ended 31st of December 2023. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | The shareholder has the right to discuss the topics on the General Assembly’s agenda and direct questions related to the Assembly’s Agenda to the members of the Board of Directors. Note that voting on the Tadawulaty platform is available free of charge to all shareholders using the following link: https://tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawulaty services can vote electronically remotely on the items of the General Assembly starting from 1:00 am on Thursday 15/11/1445H corresponding to 23/05/2024 until the end of the General Assembly time, and registration and voting in Tadawulaty services will be available and free of charge to all shareholders using the following link https://tadawulaty.com.sa. |
| Method of Communication in Case of Any Enquiries | For inquiries, shareholder relationships can be contacted by: Phone: +966138200016 Ext. 119 or 114 Fax: +966138200014 E-mail: Shares@mouwasat.com P.O. Box: 7011 Dammam 31462 |
| Attached Documents | |
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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Last Price 120.0
Net Change -1.2 (-0.99%)
Value Traded (Sar) 20,996,225.4
Volume Traded 175,740
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