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Armah Sports Co. Announces the Results of the Ordinary General Assembly Meeting, (First Meeting).
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Armah Sports Company is pleased to announce the results of the Ordinary Annual General Assembly meeting (the first meeting), which was held, at 07:10 pm on Thursday, 21 Dhu al-Hijjah 1445H corresponding to 27 June 2024G from the company's headquarters in Riyadh, through using the virtual technology. |
| City and Location of the General Assembly's Meeting | Through means of modern communications from the company’s headquarters in Riyadh. |
| Date of the General Assembly's Meeting | 2024-06-27 Corresponding to 1445-12-21 |
| Time of the General Assembly’s Meeting | 19:10 |
| Percentage of Attending Shareholders | 87.04 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following members of Board of Directors: 1- Abdulmohsen Ali Mohammed Alhagbani - Chairman of the Board of Directors 2- Fahad Ali Mohammed Alhagbani - Vice Chairman of the Board of Directors 3- Abdulmalik Abdullah Mohammed Alhagbani 4- Sulaiman Khaled Sulaiman Alkadi 5- Saad Mohammed Abdulaziz Al Ghereri 6- Amit Kapur The meeting was not attended by the following members of Board of Directors: 1- Asma Khaled Sulaiman Alkadi 2- Dag Lee |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Abdulmohsen Ali Mohammed Alhagbani (on behalf of Chairman of Remuneration and Nomination Committee). Mr. Amit Kapur (Chairman of the Audit Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- The Board of Directors’ report for the fiscal year ended 31/12/2023 was reviewed and discussed. 2- Approval on External Auditor Report for the fiscal year ended 31/12/2023 after discussion. 3- The financial statements for the fiscal year ending on 31/12/2023 were reviewed and discussed. 4- Approval on the business between Armah Sports Company and Jiad United Company for Real Estate Development, in which the board members (Mr. Abdulmohsen Alhagbani, Mr. Fahad Alhagbani, Mr. Suliman Alkadi, and Mr. Abdulmalik Alhagbani) have indirect interest. The business is related to expenses paid on behalf of the company, noting that the value of transactions in 2023 amounted to SAR 115,296 without any preferential treatment. 5- Approval on the business between Armah Sports Company and Pulse Fitness Company, in which Mr. Fahad Alhagbani has indirect interest. The business is related to equipment purchases, noting that the value of transactions in 2023 amounted to SAR 366,200 without any preferential treatment. 6- Approval on discharge of Board of Directors members from any liabilities for the year ended 31/12/2023. 7- Approval on disbursement of SAR 600,000 as remuneration to Board members for the fiscal year ended 31/12/2023. 8- Approval on appointing Baker Tilly the company's auditor from among the candidates, based on the recommendation of the Audit Committee, to examine review and audit the financial statements for the first half and annual of the year 2024 for agreed professional fees amounted of 580,000 Five Hundred Eighty Thousand SAR. |
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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