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Watani Iron Steel Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Watani Iron Steel Company announces the results of the Ordinary General Assembly meeting, through modern technology, which was held at eight o’clock in the evening on sunday 05/12/1446 AH corresponding to 01/06/2025 AD. |
| City and Location of the General Assembly's Meeting | Company headquarters - Riyadh - Old Kharj Road - Hit District (via modern technical means) |
| Date of the General Assembly's Meeting | 2025-06-01 Corresponding to 1446-12-05 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 56.15 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Mishal Abdul Karim Mohammed Al Rajhi (Chairman of the Board of Directors) Yousef Mohammed Abdul Rahman Al-Turaif (Managing Board Member and CEO) Omar Mohammed Abdul Rahman Al-Turaif (Deputy Chairman of the Board of Directors) Mishari Abdul Karim Mohammed Al Rajhi (Member of the Board of Directors) Faisal Mohammed Hammad Al Obaid (Member of the Board of Directors) Muhammad Abdul Rahman Omar Al-Wasidi (Member of the Board of Directors) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Faisal Mohammed Hammad Al-Obaid (Chairman of the Audit Committee) Mohammed Abdulrahman Omar Al-Wassidi (Chairman of the Nominations and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | - Approval of the Board of Directors' report for the fiscal year 2024 AD. - Approval of the company's auditor's report for the fiscal year ending on December 31, 2024 - Approval of the financial statements for the fiscal year ending on December 31, 2024 AD - Approval of the discharge of the Board of Directors from liability for the fiscal year ending on December 31, 2024 - Allowing the Chairman of the Board of Directors, Mr. Meshal Abdul Karim Mohammed Al Rajhi, to engage in an activity competitive with the company’s business - Allowing a member of the Board of Directors, Mr. Mashari Abdul Karim Muhammad Al Rajhi, to engage in an activity competitive with the company’s business - Approval of the Board of Directors' decision to appoint Mr. Faisal Mohammed Hammad Al-Obaid as an independent member of the Board of Directors, effective from the date of his appointment, 02/25/2025, to complete the Board's term until the end of the current term on 07/01/2026 AD, succeeding the former member, Mr. Yasser Zoman Al-Zoman - Independent Member - Approval to authorize the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2025. - Approval of the appointment of Messrs. PKF Al Bassam Company, the Company's Chartered Accountants and Auditors, from among the candidates nominated based on the Audit Committee's recommendation, to examine, review, and audit the financial statements for the second and third quarters and the annual financial statements for the fiscal year 2025 AD, for a fee of (299,000) two hundred and ninety-nine thousand Saudi Riyals only |
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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