AI Summary
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of AL ASEEL – Shareholding Co. is pleased to invite the esteemed shareholders to participate and vote in the Ordinary General Assembly meeting of the company (the first meeting), which is scheduled to be held, God willing, at 7:15 PM on Wednesday, dated 22/12/1446H, corresponding to 18/06/2025G, using modern technological means. |
| City and Location of the General Assembly's Meeting | Through modern technological means at the headquarter of the company in Riyadh |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2025-06-18 Corresponding to 1446-12-22 |
| Time of the General Assembly’s Meeting | 19:15 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Each shareholder registered in the company's shareholder registry at the depository center by the end of the trading session preceding the general assembly meeting has the right to attend the meeting. According to the rules and regulations, shareholders have the right to discuss the items on the agenda of the general assembly and to ask questions to the board members and auditors. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee. |
| Quorum for Convening the General Assembly's Meeting | The Ordinary General Assembly meeting shall not be valid unless attended by shareholders representing at least (one quarter) of the company's shares with voting rights. If the necessary quorum for this meeting is not met, a second meeting will be held one hour after the scheduled end time of the first meeting. The second meeting will be valid regardless of the number of shares represented therein. |
| General Assembly Meeting Agenda | 1. Review and discuss the Board of Directors' Report for the financial year ended 31/12/2024.
2. Vote on the Company's Auditor's Report for the financial year ended 31/12/2024, after discussion. 3. Review and discuss the Financial Statements for the financial year ended 31/12/2024. 4. Vote on discharging the members of the Board of Directors from liability for the financial year ended 31/12/2024. 5. Vote on the appointment of an auditor for the Company from among the candidates, as per the recommendation of the Audit Committee, to examine, review, and audit the financial statements for the second, third, and annual quarters of the financial year 2025 and the first quarter of the financial year 2026, and to determine their fees. 6. Vote on authorizing the Board of Directors to distribute interim dividends to shareholders semi-annually or quarterly for the financial year 2025. 7. Vote on the transactions and contracts that took place between the Company and Mr. Faisal bin Abdullah Al-Jedaie (Chairman of the Board of Directors), who has a direct interest therein, represented by a warehouse lease contract in Jeddah Governorate, with an annual rental value of SAR 700,000, without additional terms or benefits. It is noted that the property was vacated on April 20, 2024. 8. Vote on the transactions and contracts that took place between the Company and Tarfa Endowment Foundation, in which Mr. Faisal bin Abdullah Al-Jedaie (Chairman of the Board of Directors) and Mr. Mohammed bin Abdullah Al-Jedaie (former Board Member) have an indirect interest as trustees of the endowment, and Mr. Abdullah bin Mohammed Al-Jedaie has an indirect interest therein as his father is a trustee of the endowment. These transactions are represented by a showroom lease contract in Jeddah Governorate with an annual rental value of SAR 400,000, without additional terms or benefits. 9. Vote on the transactions and contracts that took place between the Company and Tarfa Endowment Foundation, in which Mr. Faisal bin Abdullah Al-Jedaie (Chairman of the Board of Directors) and Mr. Mohammed bin Abdullah Al-Jedaie (former Board Member) have an indirect interest as trustees of the endowment, and Mr. Abdullah bin Mohammed Al-Jedaie has an indirect interest therein as his father is a trustee of the endowment. These transactions are represented by a warehouse lease contract in Buraidah with an annual rental value of SAR 220,000, without additional terms or benefits. 10. Vote on the transactions and contracts that took place between the Company and Tarfa Endowment Foundation, in which Mr. Faisal bin Abdullah Al-Jedaie (Chairman of the Board of Directors) and Mr. Mohammed bin Abdullah Al-Jedaie (former Board Member) have an indirect interest as trustees of the endowment, and Mr. Abdullah bin Mohammed Al-Jedaie has an indirect interest therein as his father is a trustee of the endowment. These transactions are represented by a warehouse lease contract in Buraidah with an annual rental value of SAR 80,000, without additional terms or benefits. 11. Vote on the transactions and contracts that took place between the Company and the heirs of Abdullah bin Ibrahim Al-Jedaie (may God have mercy on him), in which Mr. Faisal bin Abdullah Al-Jedaie (Chairman of the Board of Directors), Mr. Mohammed bin Abdullah Al-Jedaie (former Board Member), and Mr. Abdulrahman bin Abdullah Al-Jedaie (Board Member) have a direct interest, and Mr. Abdullah bin Mohammed Al-Jedaie has an indirect interest. These transactions are represented by a warehouse lease contract in Riyadh (Khenchela neighborhood) with an annual rental value of SAR 602,210, without additional terms or benefits. 12. Vote on the transactions and contracts that took place between Al-Jedaie Fabrics Company (a subsidiary of AL ASEEL – Shareholding Co. ) and Mr. Mohammed bin Abdullah Al-Jedaie (former Board Member), who has a direct interest therein, and Mr. Abdullah bin Mohammed Al-Jedaie has an indirect interest. These transactions are represented by a retail showroom lease contract in Medina with an annual rental value of SAR 150,000, without additional terms or benefits. 13. Vote on the transactions and contracts that took place between Al-Jedaie Fabrics Company (a subsidiary of AL ASEEL – Shareholding Co. ) and Mr. Mohammed bin Abdullah Al-Jedaie (former Board Member), who has a direct interest therein, and Mr. Abdullah bin Mohammed Al-Jedaie has an indirect interest. These transactions are represented by a wholesale showroom lease contract in Medina with an annual rental value of SAR 137,600, without additional terms or benefits. 14. Vote on disbursing an amount of SAR 1,460,000 (one million four hundred sixty thousand Saudi Riyals) as remuneration for the members of the Board of Directors for the financial year ended 31/12/2024. 15. Vote on amending the remuneration policy for the members of the Board of Directors, its sub-committees, and executive management (attached). |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Honorable shareholders you are welcome to discuss the items listed on the agenda of the Ordinary General Assembly. Please note that voting through Tadawulaty services is available free of charge to all shareholders using the following link: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Registered shareholders on Tadawulaty services can vote electronically remotely on the agenda items starting from 14/06/2025 until the end of the meeting. Please note that voting through Tadawulaty services is available free of charge to all shareholders using the following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | Should you have any inquiries, please contact Investor Relations at the following address:
Thobe Al Aseel Company P.O. Box 11426 Riyadh 23236 Tel: 0114652000 Ext. 207 IR@alaseel.com |
| Attached Documents | |
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