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Banan Real Estate Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
04/04/2023
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Company is pleased to announce to its valued shareholders the results of the Ordinary General Assembly meeting (the first meeting) held on Dhu al-Qa’dah 1, 1443 AH, corresponding to May 31, 2022 AD, at 8:30 in the evening, through modern technology means after the completion of the legal quorum for the validity of the meeting. |
| City and Location of the General Assembly's Meeting | Company’s Headquarter, Riyadh City- via modern technology |
| Date of the General Assembly's Meeting | 2022-05-31 Corresponding to 1443-11-01 |
| Time of the General Assembly's Meeting | 20:30 |
| Percentage of Attending Shareholders | 57.17 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Abdulmohsen Abdulaziz Alhakbani (Chairman of the Board) 2. Mr. Majed Abdullah Alnasser ( CEO ) 3. Mr. Ahmad Abdulrahman Alhakbani 4. Mr. Faisal Mohammed Alhakbani 5. Mr. Ahmed Sulaiman Almuzaini 6. Mr.Abdulaziz Mohammed Algabbani |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Ahmed Sulaiman Almuzaini (Chairman of the Audit Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approved on the report of the Board of Directors for the fiscal year ending on December 31, 2021 AD 2- Voting on the auditor’s report for the year ending on December 31, 2021 AD 3- Approved on the audited financial statements of the company for the year ending on December 31, 2021 AD 4- Approval of the appointment of (Al-Laheed and Al-Yahya Chartered Accountants Office) to audit the company’s accounts from among the candidates based on the audit committee’s recommendation; This is for examining, reviewing and auditing the financial statements for the (second, third and fourth) and annual quarters of the 2022 AD, and the first quarter of the 2023 AD, and determining its fees. 5- Approved on absolve the members of the Board of Directors from liability for the year ending on December 31, 2021 AD 6- Approved on authorize the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2022AD 7- Approved on the business and contracts that took place between the company and (International for Hospitality Company) in which the Chairman of the Board of Directors (Abdul Mohsen Abdul Aziz Al-Haqbani) has an indirect interest. For a period of three years, with a rental value of 3.5 million annually, and there are no preferential conditions. Attachment . 8- Approved on the business and contracts that were made between the company and (International for Hospitality Company) in which the Chairman of the Board (Abdul Mohsen Abdulaziz Al-Haqbani) has an indirect interest, which is a contract for renting a furnished apartment building in the Sulaymaniyah district owned by Banan Real Estate Company for the benefit of International Hotels Company for a period of time. 5 years with a rental value of 2 million annually and there are no preferential conditions. Attachment. 9- Approved on the Board of Directors’ recommendation to distribute cash dividends of (6,000,000) riyals to shareholders for the second half of the financial year ending on 31/12/2021 AD at (0.30) riyals per share, provided that the eligibility is for the shareholders who own shares at the end of trading on the day of the assembly The general public and those registered in the company’s shareholders register with the Securities Depository Center Company at the end of the second trading day following the due date. Dividend distribution date will be announced later 10- Approved on delegating the Board of Directors to the authority of the Ordinary General Assembly with the authorization contained in Paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval by the General Assembly or until the end of the delegated Board of Directors’ session, whichever is earlier, in accordance with the conditions contained in the controls And the regulatory procedures issued in implementation of the Companies Law for Listed Joint Stock Companies. |
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