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Almasane Alkobra Mining Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )

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Introduction AMAK Announces the Results of the Extraordinary General Assembly Meeting (First meeting) held at 06:30 pm on Sunday evening 27/11/1443 corresponding to 26/06/2022 at the headquarters of the company in Najran City and through modern technology (using Tadawulaty system).
City and Location of the General Assembly's Meeting From Najran Headquarters by using modern technology means.
Date of the General Assembly's Meeting 2022-06-26 Corresponding to 1443-11-27
Time of the General Assembly's Meeting 18:30
Percentage of Attending Shareholders 58.41%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees 1-Eng. Mohmmed Manea Aballala, Chairman

2-Mr. Ibrahim Ali Hussain Bin Musallam, Vice Chairman

3-Eng. Ayman AlShibl, Board Member & Secretary of the Board

4-Eng. Majed Ali Hussain bin Musallam, Board Member

5-Dr. Abduellah Othman AlSaleh, Board Member

6-Eng. Savas Sahin, Board Member

7-Eng. Mohmmed Ahmed AlShehhi,Board Member

8-Mr. Fekery Youssef Mohmmed, Board Member

9-Mr. Abdulsalam Abdullah Aldraibi, 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 1-Mr.Waleed Bamaroof – Chairman of the Audit Committee.

2-Dr.Abduellah Othman AlSaleh - Chairman of the NRC Committee, Board Member.

3-Eng.Mohmmed Manea Aballala - Chairman of the Commercial Committee, Chairman of the Board.

4-Eng. Savas Sahin - Chairman of the Executive Committee, Board Member.

Voting Results on the Items of the General Assembly's Meeting Agenda's 1-Approval of the Board of Directors' report for the fiscal year ended 31 December 2021.

2- Approval of the Auditor's report for the fiscal year ended 31 December 2021.

3- Approval of the Audited financial statements for the fiscal year ended 31 December 2021.

4- Approval of absolving the Board members from liabilities for their activities pertain to management of the Company for the fiscal year ended 31 December 2021.

5- Approval of the appointment and determining fees of the external auditor for the Company from among the candidates on recommendation of the Audit Committee to examine, review and audit the Company’s financial statements for the second, third quarters and annual fiscal year of 2022, and the first quarter of fiscal year 2023 G.

6- Approval of the disbursement total amount of 2 million and nine hundred thousand Saudi riyals (2,900,000) as a bonus to the members of the Board of Directors for the fiscal year ended 31/12/2021.

7- Approval of the businesses that will be concluded between the Company and Najran Cement Company For the year 2022 in the expected amount of Three hundred thousand (300,000) Saudi riyals for one year to sell cement, in which the Chairman of the Board of Directors, Engr. Mohammed Aballala, member of the Board of Directors, Engr. Ayman Al-Shibl and member of the Board of Directors, Mr. Abdulsalam Aldraibi, have direct interest in it, with same conditions and prices that Company follows with its other customers.

8- Approval of on the related transactions that will take place between the company and the Najran Water Institution for the year 2022 in the expected amount of two hundred thousand Saudi riyals (200,000),for one year to sell water, in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it, with same conditions and prices that Company follows with its other customers.

9- Approval of related transactions between the company and Arab Commercial Enterprises for Travel for the year 2022 in the expected amount of SAR (2,500,000) 2 million and five hundred thousand Saudi Riyals , for one year ,for travel services tickets and accommodation , in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it, with same conditions and prices that Company follows with its other customers.

10- Approval of the related transactions that will take place between the company and the Najran Water Institution for the year 2021, in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it. During the year 2021, the value of the business amounted to fifty-three thousand One hundred thirty Saudi riyals (53, 130) for one year to sell water, and under prevailing commercial conditions.

11- Approval of the related transactions that will take place between the company and Arab Commercial Enterprises for Travel for the year 2021, for one year ,for travel services tickets and accommodation in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it. During the year 2021, the value of the business amounted to SAR (3,100,085) Three million hundred thousand and eighty five Saudi Riyals under the prevailing commercial conditions.

12- Approval of delegation of powers to the Board of Directors as stipulated in Paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval of The Assembly General or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the regulatory rules and procedures issued pursuant to the Companies Law ( Listed joint stock companies).

13- Approval of authorizing the Board of Directors to distribute interim dividends to shareholders on semi-annual or quarterly basis for the fiscal year 2022, and to determine the maturity and disbursement date as per the rules and regulations of the Company Law in line with Company’s financial position, cash flows, expansion, and investment plans.

14- Approval of the amendment to article Two of the Bylaws concerning the Company’s name.

15- Approval of the amendment to article Twenty-Four (24) of the company's Bylaws concerning the remuneration of the members of the Board of Directors.

16- Approval of the amendment to article Fifty (50) of the company's Bylaws concerning profit distribution.

17- Approval of amending the Company's Governance Manual.

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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