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Alfakhera for Mens Tailoring Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Al Fakhira Men's Tailoring Company announces to its shareholders the results of the Ordinary General Assembly Meeting (first meeting), which was held at (19:45) on Sunday, 12/19/1446 corresponding to 06/15/2025, at the company's main headquarters located in Riyadh - Al Kharj Road - Second Industrial City, via modern technology (remotely) - using Tadawulati services; after the legal quorum for the validity of the meeting of the Assembly was completed |
| City and Location of the General Assembly's Meeting | The company's main headquarters is located in Riyadh - Al Kharj Road - Second Industrial City, via modern technology (remotely) - using Tadawulati services. |
| Date of the General Assembly's Meeting | 2025-06-15 Corresponding to 1446-12-19 |
| Time of the General Assembly’s Meeting | 19:45 |
| Percentage of Attending Shareholders | 83.99% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Suleiman Hamad Abdullah Al Yahya - Chairman of the Board of Directors 2. Mr. Hamad Suleiman Hamad Al Yahya - Vice Chairman 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 | 1. Mr. Musab Khaled Al-Hadlaq - Member 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 ending December 31, 2024 was reviewed and approved. 2. The financial statements for the fiscal year ending December 31, 2024 were reviewed and approved. 3. The company's auditors' report for the fiscal year ending December 31, 2024 was approved. 4. Approval to discharge the members of the Board of Directors from liability for the fiscal year ending December 31, 2024. 5. Approval of the appointment of RSM Company from among the candidates to examine, review and audit the semi-annual and annual financial statements for the fiscal year ending 12/31/2025, for a total fee of one hundred and fifty thousand (150,000) Saudi riyals. 6. Approval to disburse an amount of (258,000) as remuneration and attendance allowance to independent members of the Board of Directors for the fiscal year ending December 31, 2024. 7. Approval of the Board of Directors' authorization to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2025. 8. Approval of the Board of Directors' authorization of the Ordinary General Assembly to authorize the Board of Directors under paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of approval by the Ordinary General Assembly or until the end of the term of the authorized Board of Directors, whichever is earlier, in accordance with the conditions stipulated in the Executive Regulations of the Companies Law for listed joint-stock companies. 9. Approval of the business and contracts concluded for the fiscal year ending December 31, 2024, between the Company and Suleiman Hamad Al Yahya Trading Est., in which Board Member Suleiman Hamad Al Yahya, Chairman of the Board of Directors, has a direct interest. These contracts are for employee wages paid on behalf of the Company. The contract term is seven months, ending on July 31, 2024, and there are no preferential terms. The contract amounts of 619,318 riyals. 10. Not approving the business and contracts concluded for the fiscal year ending 12/31/2024 between the Company and Sulaiman Bin Hamad Al Yahya Real Estate and Contracting Company, in which the Board Member Sulaiman Hamad Al Yahya, Chairman of the Board of Directors, Hamad Sulaiman Al Yahya, Vice Chairman of the Board of Directors, and Abdulaziz Sulaiman Al Yahya, the Managing Director of the Board of Directors at that time, have a direct interest. These businesses consist of the Company renting from Sulaiman Al Yahya Real Estate and Contracting Company the following showrooms: Al-Kisaei Showroom in Al-Safraa District in Buraidah, Al-Fakhira Showroom on King Abdulaziz Road in Buraidah, Warehouse 1 in Al-Shifa District in Riyadh, Warehouses 2 and 3 in Al-Shifa District in Riyadh, labor housing in Buraidah, and labor housing in Riyadh. The contract period is one year and is renewed annually, and there are no preferential conditions, for an amount of 412,300 riyals. |
| Additional Information | Due to the non-approval of Item No. 10, the Assembly set a period of (3) months from the date of the Assembly for the members of the Board of Directors (Mr. Suleiman Hamad Al-Yahya and Mr. Hamad Suleiman Al-Yahya) to withdraw from the contract, transaction or business, or to adjust their status 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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