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Red Sea International Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Red Sea International Co. announces the results of the Ordinary General Assembly meeting (the first meeting), which was held at 06:40 pm in the evening on Wednesday 29-12-1446 AH, corresponding to 25-06-2025 AD. |
| City and Location of the General Assembly's Meeting | through modern technology. |
| Date of the General Assembly's Meeting | 2025-06-25 Corresponding to 1446-12-29 |
| Time of the General Assembly’s Meeting | 18:40 |
| Percentage of Attending Shareholders | 70.53% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by Board members as following: 1.His Excellency Mr. Amr Abdullah Al-Dabbagh . 2.Mr. Sami Ahmed bin Mahfooz . 3.Mr. Mohammed Zaher Al-Munajjed . 4.Dr. Lama Abdulaziz Al-Sulaiman . 5.Mr. Mohammed Husnee Jazeel . 6.Ms. Shahad Khalid Nejaim . 7.Dr. Hans-Martin Stockmeier. |
| 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 Chairman of the Committees: 1- Mr. Mohammed Zaher Al-Munajjed (Chairman of the Audit Committee) 2- Dr. Lama Abdulaziz Al-Sulaiman (Chairman of the Nomination & Compensation Committee) 3- Dr. Hans-Martin Stockmeier(Chairman of the safety Sustainability Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- The Board of Directors report for the Financial Year ended on 31 December 2024 was reviewed and discussed . 2- Approval on the Independent Auditor Report for the Financial Year ended 31 December 2024 . 3 - Approval of the Financial Statements for the Financial Year ending on 31 December 2024 were reviewed and discussed . 4- Approval on the appointment of PriceWaterHouseCoopers as the company’s External Auditor from among the candidates nominated based on the recommendation of the Audit Committee, to review and audit financial statements for the second quarter, third quarter, fourth quarter, and the annual for the financial year 2025, in addition to the first quarter of the financial year 2026 , with fees amounting to (4,000,000) Saudi riyals, excluding value-added tax. 5- Approval of the payment of SAR 2,984,869 as remuneration to Board Members for the Financial The year ended on 31 December 2024. 6- Approval to delegating the Ordinary General Assembly’s powers to the Board of Directors as stipulated in paragraph (1) of Article (27) of the Companies Law, for a period of one year from the General Assembly’s approval, or until the end of the Board of Directors’ term whichever is earlier, in accordance with the terms stated in the Regulatory Rules and Procedures issued pursuant to the Companies Law related to listed joint-stock companies . 7-Approval on releasing the members of the Board of Directors from liability for the fiscal year ended on December 31, 2024 . |
| Additional Information | If any inquiries to please contact the Investor Relations Department through: Email: compliance@redseaintl.com |
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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