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Jazan Development and Investment Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Jazan Development and Investment Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting ) , which was held at 19:30 pm on Wednesday, 7-11-1445 AH corresponding to 15-05-2024 AD, an hour after the specified period from the first meeting, due to incomplete quorum required for the first meeting |
| City and Location of the General Assembly's Meeting | By using modern technology from the company's headquarter in Jazan |
| Date of the General Assembly's Meeting | 2024-05-15 Corresponding to 1445-11-07 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 17.22 |
| 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 with their names: 1) Mr. Sultan Abdulaziz Al-Mubarak (Chairman) 2) Mr. Feras Khalid Al-Bawardi (Vice Chairman) 3) Mr. Abdulelah Mulhem Al-Mofeez (Board Member) 4) Mr. Turki Ahmed Al-Obilan (Board Member) 5) Dr. Abdullah Ali Al-Dubaikhi (Board Member) 6) Mr. Ibrahim Abdullah Al-Jasser (Board Member) 7) Mr. Sultan Abdullah al-Shalash (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 | The meeting was attended by the following heads of the sub-committees emanating from the Board of Directors: 1) Mr. Feras Khalid Al-Bawardi (Chairman of the Executive and Investment Committee) 2) Mr. Turki Ahmed Al-Obilan (Chairman of the Audit Committee - Chairman of the Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1) The Board of Director’s report for the fiscal year ending on December 31, 2023, has been reviewed and discussed. 2) Non-Approve the audit report for the fiscal year ending on December 31, 2023. 3) The financial statements for the fiscal year ending on December 31, 2023, have been reviewed and discussed. 4) Approve the appointment of Al-Saleh and Al-Zoman and Al-Fahad- CPA as the auditor from the candidates based on the recommendation of the Audit Committee, for the examination, review, and auditing of the financial statements for the second and third quarters and the annual fiscal year 2024, and the first quarter of the financial year 2025, and determining their fees by 400,000 SAR, excluding VAT. 5) Non-Approve an amendment to the Corporate Social Responsibility Policy. 6) Non-Approve the adoption of the Competition Policies and Standards. 7) Non-Approve an amount of (700,000) Saudi Riyals as a bonus for the Board of Directors members for the fiscal year ending on December 31, 2023. 8) Approve the appointment of Dr. Abdullah bin Ali Al-Dubaikhi as a non-executive member of the Board of Directors, effective from his appointment date on January 3, 2024, to complete the current Board's term until its expiration on April 12, 2025, replacing the former member Ms. Badour bint Nasser Al-Rashoudi - non-executive. 9) Approve the appointment of Mr. Ibrahim bin Abdullah Al-Jasser as an independent member of the Board of Directors, effective from his appointment date on January 3, 2024, to complete the current Board's term until its expiration on April 12, 2025, replacing the former member Mr. Mohammed bin Abdullah Al-Khattaf - independent. 10) Approve the appointment of Mr. Sultan bin Abdullah Al-Shalash as an independent member of the Board of Directors, effective from his appointment date on January 7, 2024, to complete the current Board's term until its expiration on April 12, 2025, replacing the former member Engineer Majid bin Abdullah Al-Issa - independent. 11) Non-Approve the authorization of the Board of Directors with the powers of the Ordinary General Assembly, as stipulated in Article 27, Paragraph (1) of the Companies Law, has been approved for a period of one year from the date of the General Assembly's approval or until the end of the authorized Board's term, whichever comes first, in accordance with the conditions stated in the Executive Bylaws of the Companies Law applicable to listed joint stock companies |
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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