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Mouwasat Medical Services Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Mouwasat Medical Services is pleased to announce the results of the AGM (First Meeting) |
| City and Location of the General Assembly's Meeting | Through modern technology from the company's headquarters - Dammam |
| Date of the General Assembly's Meeting | 2025-05-05 Corresponding to 1446-11-07 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 49.95% |
| 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 board members: 1- Mr. Mohammed Sultan Al Subaie. 2- Mr. Nasser Sultan Al Subaie. 3- Mr. Khalid Sulaiman Al Saleem. 4- Dr. Sami Abdulkarim Alabdulkarim. 5- Mr. Fahad Ayed Alaslami 6- Dr. Mohammed Hamad AlKathiri. 7- Dr. Abdullah Saghaier Alhussaini |
| 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 chairmen of the following committees: 1- Mr. Nasser Sultan Al Subaie (Chairman of Executive Committee) 2- Dr. Mohammed Ibrahim Atwaijri (Chairman of Audit Committee) 3- Dr. Mohammed Hamad AlKathiri (Chairman of Nomination and Remunerations 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 December 31,2024. was reviewed and discussed. 2- Approval of the company’s external auditor's report for the fiscal year ending on 31/12/2024. 3- The financial statements for the fiscal year ended December 31,2024. was reviewed and discussed 4- Approval of appointing KPMG Professional Services 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 2025, and the first quarter of fiscal year 2026, with the fees of 990,000 SAR VAT excluded. 5- Approval of the Board’s recommendation to distribute cash dividends amounting to SR 400 million to the shareholders for the fiscal year ended 31/12/2024 at SR 2 per share representing 20% 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 disbursement of dividends will begin by transferring them to accounts associated with the portfolios of eligible shareholders as of Thursday 15/05/2025 through the Paying agent - Securities Depository Center Company (Edaa), and any shareholder in the event of a failure of deposit in his account can contact the Paying agent - Securities Deposit Center (Edaa) or communicate with the Company via email: shares@mouwasat.com. 6- Approval of the business and contracts that will be concluded for the fiscal year ending on 31/12/2025 between the Company and Mouwasat International Co. Limited, in which the Board members Mr. Mohammed Sultan Al Subaie (Non-Executive Member) and Mr. Nasser Sultan Al Subaie (Executive Member) have a direct interest, and the Board member Mr. Khalid Suleiman Al Saleem (Executive Member) has an indirect interest, and the nature of transaction is a rental contract of a residential for the Company's employees in Dammam, Jubail and Khobar according to the Company's procurement system without preferential terms with an estimated value of SR 2,676,000, noting that the value of transactions for the fiscal year ended on 31/12/2024 amounted to SR 2,667,500. 7- Approval of the business and contracts that will be concluded for the fiscal year ending on 31/12/2025 between the Company and Mouwasat International Co. Limited, in which the Board members Mr. Mohammed Sultan Al Subaie (Non-Executive Member) and Mr. Nasser Sultan Al Subaie (Executive Member) have a direct interest, and the Board member Mr. Khalid Suleiman Al Saleem (Executive Member) 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 with an estimated value of SR 28,000,000, noting that the value of transactions for the fiscal year ended on 31/12/2024 amounted to SR 25,385,384. 8- non-approval of the business and contracts that will be concluded for the fiscal year ending on 31/12/2025 between the Company and Mouwasat International Co. Limited, in which the Board members Mr. Mohammed Sultan Al Subaie (Non-Executive Member) and Mr. Nasser Sultan Al Subaie (Executive Member) have a direct interest, and the Board member Mr. Khalid Suleiman Al Saleem (Executive Member) 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 with an estimated value of SR 14,000,000, noting that the value of transactions for the fiscal year ended on 31/12/2024 amounted to SR 12,367,087 9- Approval of the business and contracts concluded for the fiscal year ended on 31/12/2024 between the Company and Mouwasat International Co. Limited, in which the Board members Mr. Mohammed Sultan Al Subaie (Non-Executive Member) and Mr. Nasser Sultan Al Subaie (Executive Member) have a direct interest, and the Board member Mr. Khalid Suleiman Al Saleem (Executive Member) has an indirect interest with the value of transactions amounted to SR 196,823, 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. 10- Approval of the business and contracts that will be concluded for the fiscal year ending on 31/12/2025 between the Company and Advision for trading Est., in which the Board member Mr. Khalid Suleiman Al Saleem (Executive Member) has a direct interest, and the nature of transactions are of advertising and marketing related in accordance with the Company's procurement system without preferential terms with an estimated value of SR 30,000,000 , noting that the value of transactions for the fiscal year ended on 31/12/2024 amounted to SR 22,003,164. 11- Approval of the release Board members from liability for the period ended 31st of December 2024. |
| Additional Information | - Due to the non-approval of Item 8, the Assembly has set a period of (6) months from the date of the Assembly meeting for the members of the Board of Directors, Mr. Muhammad Sultan Al-Subaie (non-executive member), Mr. Nasser Sultan Al-Subaie (executive member), and Mr. Khaled Suleiman Al-Saleem (executive member), to regularize their situations in accordance with Paragraph (b) of Article 67 of the Executive Regulations of the Companies Law for 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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