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Thob Al Aseel Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

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Introduction Thob Al-Aseel Company announces the results of the Ordinary General Assembly meeting (the first meeting), which was held at 8:30 pm on Sunday 27/11/1443H corresponding to 06/26/2022 G through the E-technology methods..
City and Location of the General Assembly's Meeting The main headquarters of the company is in the city of Riyadh, Al-Olaya district, using modern technologies
Date of the General Assembly's Meeting 2022-06-26 Corresponding to 1443-11-27
Time of the General Assembly's Meeting 20:30
Percentage of Attending Shareholders 53.15%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The meeting was attended by the following board members:-

Mr. Faisal Abdullah Ibrahim Al-Jedaie (Chairman of the Board)

Mr. Tariq Saad Abdulaziz Al-Tuwaijri (Board Member)

Mr. Abdulrahman Abdullah Ibrahim AlJedaie (Board Member)

The absent members are:-

Mr. Ajlan bin Abdul Rahman Al-Ajlan (Vice Chairman of the Board of Directors)

Mr. Mohamed Abdullah Ibrahim Al-Jedaie (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 meeting was attended by the following committees heads:-

Mr. Ibrahim bin Abdullah Al-Sultan (Chairman of the Audit Committee)

The following Committee head was absent from the meeting:-

Mr. Ajlan bin Abdul Rahman Al-Ajlan (Chairman of the Nominations and Remunerations Committee)

Voting Results on the Items of the General Assembly's Meeting Agenda's 1) Approving the report of the Board of Directors for the fiscal year ending on December 31, 2021 G

2) Approving the company auditor’s report for the fiscal year ending on December 31, 2021G

3) Approving the financial statements for the fiscal year ending on December 31, 2021G

4) Approving the Clearance of Liability of the members of the Board of Directors for the fiscal year ending on December 31, 2021G.

5) Approving the appointment of PWC as an auditor 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 and fourth quarters of the fiscal year 2022G and the first quarter of the fiscal year 2023 G and determine their fees.

6) Approving the distribution of (SR 1,302,000) as a bonus to the members of the Board of Directors for the fiscal year ending on December 31, 2021G.

7) Approval on authorizing the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2022 G.

8) Approving the business and contracts that were held between the company and the heirs of Mr. Abdullah Al-Jeda’i, which belong to the member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jedei, the member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jeda’i, and the member of the Board of Directors, Mr. Abdul Rahman bin Abdullah Al-Jadaei, who have an indirect interest in the form of leasing contracts of the Shops and warehouses without preferential conditions, noting that the value of transactions for the fiscal year ending on 31/12/2021 G is (SR 1,122.210).

9) Approval of the business and contracts that were held between Al-Jedaie Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the heirs of Abdullah Al-Jeda’i, which belong to the member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jedei, the member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jedei, and the member of the Board of Directors, Mr. Abdul Rahman Bin Abdullah Al-Jadaie who has an indirect interest represented in the lease contracts of shops and warehouses without preferential terms, noting that the value of the transactions for the fiscal year ending on 31/12/2021 G is SR (60,000)

10) Approval of the business and contracts that were held between Al-Jedaei Textiles Company (a subsidiary of Thobe Al-Aseel Company) and a member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jeda’i, who has a direct interest in the rental contracts of exhibitions in Madinah without preferential terms, noting that the value of transactions for the fiscal year ending on 31/ 12/2021 G is SR (300,000).

11) Approval of the business and contracts that were held between the company and Al-Jedaie Furniture Company, which belong to a member of the board of directors, Mr. Faisal bin Abdullah Al-Jadaei, a member of the board of directors, Mr. Muhammad bin Abdullah Al-Jadaei, and a member of the board of directors, Mr. Abdul Rahman bin Abdullah Al-Jedaei, who have an indirect interest, which is a technical support service contract Without preferential conditions, noting that the value of transactions for the fiscal year ending on 31/12/2021 G is SR (150,000).

12) Approval of the amendment of the regulations of the Audit Committee.

13) Approval of the amendment of the regulations of the Nomination and Remuneration Committee.

14) Approval of the amendment of the remuneration policies of the members of the Board of Directors and the committees emanating from the Board and the Executive Management.

15) Approval of the policy of standards and procedures for membership in the Board of Directors.

16) Approval of the criteria for the board members’ competition for the company’s business or one of its branches activity

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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