Osoul & Bakheet Investment Company announces the results of the 2024 Annual General Assembly meeting, which was held at 7:00 PM on Tuesday, 02/07/2024, via modern technology means after achieving the required legal quorum with a 70.61% attendance rate. The following Board of Directors members were present: Mr. Abdullah Al-Khraif, Mr. Abdulrahman Al-Yahya, Mr. Bashar Bakheet, and Mr. Khaled Al-Mousa. Mr. Wael Al-Sarhan was absent. The meeting was also attended by the Chairman of the Audit and Risk Committee, Mr. Abdullah Al-Khraif. The voting results were as follows:
The Board of Directors’ report for the fiscal year ending 31/12/2023 was reviewed and discussed.
The financial statements for the fiscal year ending 31/12/2023 were reviewed and discussed.
Approval of the company’s auditor’s report for the fiscal year ending 31/12/2023 after discussion.
Approval to discharge the Board of Directors members for the fiscal period ending 31/12/2023.
Approval of the appointment of RSM United Accountants for Professional Consultations as the company’s auditor among the nominees to examine, review, and audit the semi-annual and annual financial statements for the fiscal year 2024, with an amount of 237,000 SAR.
Approval to pay an amount of 60,000 SAR as remuneration to the Board of Directors members for the fiscal year ending 31/12/2023.
Election of Mr. Mazen Mohammed Al-Dawood as a member of the Board of Directors among the nominees to complete the current term, which ends on 26/12/2024.
Approval to authorize the Board of Directors with the powers of the Ordinary General Assembly as stipulated in paragraph (1) of Article 27 of the Companies Law for one year from the date of the General Assembly’s approval or until the end of the authorized Board of Directors’ term, whichever is earlier, in accordance with the conditions stated in the Implementing Regulations of the Companies Law for listed joint-stock companies.
