Development Works Food Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting
|Introduction||The Board of Directors of the Development Works Food Co (a Saudi joint stock company) is pleased to invite its shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting) through modern technology, in order to ensure the safety of dealers in the financial market and within the support of preventive and precautionary efforts and measures by the competent health authorities And related to the response to the new Corona virus (COVID 19), and an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread.|
|City and Location of the General Assembly's Meeting||Head office - Riyadh|
|URL for the Meeting Location||www.tadawulaty.com.sa|
|Date of the General Assembly's Meeting||2021-06-28 Corresponding to 1442-11-18|
|Time of the General Assembly's Meeting||20:00|
|Attendance Eligibility||Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations|
|Quorum for Convening the General Assembly's Meeting||The (ordinary) general assembly meeting is valid if attended by shareholders representing at least half of the capital, and if the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for convening the first meeting, and the second meeting is valid regardless of the number of shares represented in it.|
|General Assembly Meeting Agenda||1. Voting on the financial statements for the fiscal year ending on 31/12/2020 AD. |
2. To vote on the report of the Board of Directors for the fiscal year ending on 31/12/2020 AD.
3. Vote to absolve the members of the Board of Directors from liability for the fiscal year ending on 31/12/2020 AD.
4. Vote on the auditor's report for the fiscal year ending on 31/12/2020 AD.
5. Vote on the report of the Audit Committee for the fiscal year ending on 31/12/2020 AD.
6. To vote on appointing an auditor for the company from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third, fourth and annual quarters of the fiscal year 2021 AD and for the first quarter of 2022 AD and determine his fees.
7. Vote on the Board of Directors’ decision to appoint (Mr. / Musa Abdullah Al-Fawzan) as a (independent) member of the Board of Directors starting from the date of his appointment on 07/06/2020 AD to complete the Board’s session until the end of the current session on 29/10/2021 AD to succeed the previous member (Professor / Saad Sunitan Hudaib - Non-Executive). (CV attached).
8. Voting on the Board of Directors’ decision to appoint (Professor / Mohammed Abdullah Al Mubarak - a member from outside the Board) as a member of the Audit Committee, starting from 07/06/2020 AD until the end of the current committee’s working period on 29/10/2021 AD, instead of the previous committee member ( Mr. Ahmed Ibrahim Al-Ajla - Member from outside the board) provided that the appointment takes effect from the date of the decision issued on 07/06/2020 AD, and this appointment comes in accordance with the work regulations of the Audit Committee (CV attached).
9. To vote on the Board of Directors’ decision to appoint Mr. Anas Saleh Al-Amoud as a member (independent) of the Board of Directors starting from the date of his appointment on 01/12/2020 AD to complete the Board’s session until the end of the current session on 29/10/2021 AD. Replacing the previous member, Mr. Mohamed Saad Al-Ashry - Non-Executive (CV attached).
10. Voting on the Board of Directors’ decision to appoint (Mr. Musa Abdullah Al-Fawzan - independent member) as a member of the Audit Committee, starting from 11/11/2020 AD until the end of the current committee’s work period on 29/10/2021 AD, instead of the previous committee member (Mr. / Hisham Abdul Rahman Muqrin - Executive Member), provided that the appointment takes effect from the date of the decision issued on 11/11/2020 AD, and this appointment comes in accordance with the work regulations of the Audit Committee (CV attached).
11. Vote on the Board of Directors' decision to appoint Mr. Hisham Abdel Rahman Muqrin (Executive) as Vice Chairman of the Board of Directors, starting from the date of his appointment on 07/12/2020 until the end of the current session on 29/10/2021.
12. To vote on disbursing an amount of (117,685) SR as a bonus to the members of the Board of Directors for the fiscal year ending on 31/12/2020 AD.
|E-Vote||Note that the registered shareholders in the Tadawulati services will be able to vote remotely on the items of the assembly starting from 4:00 pm on Friday 15/11/1442 AH corresponding to 25/06/2021 AD until the end of the time of the assembly, and registration and voting in the Tadawulati services will be available and free for all shareholders using the following link (www.tadawulaty.com.sa).|
|Eligibility for Attendance Registration and Voting||Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes|
|Method of Communication||Email: email@example.com |
Mobile: +966 554 875 792
The Capital Market Authority and the Saudi Stock 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.