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Saudi Cable Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Cable Company announces the results of the Extraordinary General Assembly (first meeting), which was held in person at the company’s headquarters in Jeddah, and via modern technology using the Tadawulati system, at 08:30 pm on Sunday 26/12/1446 AH corresponding to 22/06/2025 AD. |
| City and Location of the General Assembly's Meeting | In person at the Company's main headquarters in Jeddah, Industrial City, and via modern technology means. |
| Date of the General Assembly's Meeting | 2025-06-22 Corresponding to 1446-12-26 |
| Time of the General Assembly’s Meeting | 20:30 |
| Percentage of Attending Shareholders | 50.34% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Names of the Board Members who attended the meeting: 1. Abdullah bin Owdah AlGobain (Chairman of the Board) 2. Waleed bin Abdullaziz AlShuwaier (Vice Chairman) 3. Khalid bin Asaad Khashogji (Management Director and CEO) 4. Shabib Hassan Alhaqabani 5. Sabri bin Abdullah Alghamdi 6. Abdulkarim bin Muhammed Alnuhayer 7. Saif bin Fahid Al Harbi 8. Hamza bin Ghulam Joharji 9. Mohammed bin Zohair Murad |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Abdullah bin Owdah AlGhobain (Chairman of the Executive Committee) 2. Abdulkarim bin Mohammed Alnuhayer (Chairman of Audit Committee) 3. Mohammed bin Zohair Murad (Chairman of Nominations and Remunerations Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Directors’ report for the financial year ending on 31/12/2024 was reviewed and discussed. 2. The financial statements for the fiscal year ending on 31/12/2024 were reviewed and discussed. 3. Approval of the company’s auditor’s report for the financial year ending31/12/2024 after discussing it, by 98.96%. 4. Approval of business and contracts concluded in 2024 between the company and Midal Cables Company, in which board members have (indirect) interest as members of the Board of Directors of as members of the Board of Directors of the associate company Midal Cables, Eng. Walid A. Alshewaiyer, Mr. Khalid A. Khashogji, Eng. Sabri A. Alghamdi, which is a single raw materials procurement contract in the amount of 320,676.82 (three hundred and twenty thousand, six hundred and seventy-six riyals and eighty-two halalas), without conditions or preferential benefits, by 93.59%. 5. Approval of amending Working Regulation of the Nominations and Remunerations Committee, by 97.42%. 6. Approval of the appointment of the company’s auditor, Messrs. Al-Kharashi & Partners, certified accountants and auditors, from among the candidates based on the recommendation of the Audit Committee; This is for examining, reviewing, and auditing the financial statements for the second, third and annual quarters of the fiscal year 2025 and the first quarter of the fiscal year 2026, and determining its fees amounting to 943,000 (nine hundred forty-three thousand Saudi Riyals) including VAT, by 97.87%. 7. Approval of rejecting the transfer of rights agreement (debt assignment) between Tathmeer Company, Al Rajhi Bank and Saudi Cable Company, by 92.98%. 8. Approval of rejecting the agreement to capitalize Al Rajhi Bank’s debt and convert it into equity shares for the benefit of Tathmeer Company, by 92.95%. |
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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