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Riyadh Steel Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Riyadh Steel Company announces the results of the Extraordinary General Assembly Meeting (First Meeting), which was held at 7:30 pm on Sunday 05/12/1446 AH corresponding to 01/06/2025 AD through modern technology, after the completion of the quorum for the validity of the extraordinary general assembly meeting according to the company's articles of association. |
| City and Location of the General Assembly's Meeting | Remotely using modern technology - Riyadh city. |
| Date of the General Assembly's Meeting | 2025-06-01 Corresponding to 1446-12-05 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 75.15% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The Extraordinary General Assembly Meeting was attended by the following Board of Directors: Mr. Tarik bin Abdul Rehman Alghannam – Chairman of the Board of Directors. Mr. Maan Bin Hamad Aljasser – Vice Chairman of the Board of Directors. Mr. Abdulkarim Bin Ibrahim Alnafie – Board Member. Mr. Khalid Bin Hamad Yahya Al-Yahya – Board Member. Mr. Abdullah bin Mohammed Al-Saif – Board Member. Mr. Ridha Ibrahim Tobar – Board Member. The following was absent from the meeting: Dr. Freah bin Abdullah Al-Shammary – 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 Extraordinary General Assembly Meeting was attended by the following on behalf of the Board of Directors: Dr. Murya bin Saad Al-Habash – (Chairman of the Audit Committee) Mr. Khalid Bin Hamad Yahya Al-Yahya – (Chief of the Strategic Planning 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 31 December 2024 was reviewed and discussed. 2. Approval of the auditor's report for the financial year ended 31 December 2024 after discussion 3. The company's financial statements for the financial year ended 31 December 2024 were reviewed and discussed 4. Approval of the absolution of the Board of Directors from liability for the financial year ended 31 December 2024 5. Approval of the appointment of Alzoman, Alfahad & Alhajjaj Professional Consulting services as 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 second, third and annual quarters of the financial year 2025, and the first quarter of the financial year 2026, and determine its fees. 6. Approval of the Board of Directors' decision to appoint Mr. Ridha Tobar as an independent member of the Board of Directors starting from the date of his appointment on 20 March 2025 to complete the term of the Board until the end of the current session on 17 January 2027 AD, succeeding the previous member, Mr. Sultan Alqaseer - Independent Member. 7. Approval of the Board of Directors' resolution appointing Mr. Freah bin Abdullah Al-Shammari as an independent member of the Board of Directors starting from the date of his appointment on 27 April 2025 to complete the term of the Board until the end of the current session on 17 January 2027 AD, succeeding the previous member, Mr. Ahmed bin Abdul Karim Alnafie - Independent Member 8. Approval of the Board of Directors' resolution appointing Mr. Abdullah bin Mohammed bin Abdullah Al-Saif as an independent member of the Board of Directors starting from the date of his appointment on 27 April 2025 to complete the term of the Board until the end of the current session on 17 January 2027 succeeding the previous member Mr. Mohammed bin Abdullah Al-Saif - Independent Member |
| Additional Information | N/A |
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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