AI Summary
| Element List | Explanation |
|---|---|
| Introduction | Jazan Development and Investment Company announces the results of the Ordinary General Assembly Meeting (Second Meeting), which was held at 20:30 on Wednesday 25 June 2025, one hour after the scheduled time of the first meeting due to the lack of a quorum. |
| City and Location of the General Assembly's Meeting | By using modern technology from the company's headquarter in Jazan |
| Date of the General Assembly's Meeting | 2025-06-25 Corresponding to 1446-12-29 |
| Time of the General Assembly’s Meeting | 20:30 |
| Percentage of Attending Shareholders | 17.48% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following board members attended the meeting with their names:
1. Mr. Ibrahim Abdullah Al-Jasser (Chairman) 2. Mr. Feras Khaled Albawardi (Vice Chairman) 3. Mr. Sultan Abdullah al-Shalash (Board Member) 4. Mr. Mohammed Yahya Alsogour (Board Member) 5. Mr. Jaber Mohammed Alsahli(Board Member) 6. Mr. Turke Ahmed Alobailan (Board Member) 7. Mr. Mohammed Abdullah Alresheid (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 heads of the sub-committees emanating from the Board of Directors:
1. Mr. Feras Khaled Albawardi (Chairman of the Executive and Investment Committee) 2. Mr. Turke Ahmed Alobailan (Chairman of the Audit Committee) 3. Mr. Sultan Abdullah alshalash (Chairman of the Nominations and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Director’s report for the fiscal year ending on December 31, 2024, has been reviewed and discussed.
2. The financial statements for the fiscal year ending on December 31, 2024, have been reviewed and discussed.
3. Approve the audit report for the fiscal year ending on December 31, 2024.
4. Approve the appointment of Alzoman, Alfahad & Alhajjaj professional services as the auditor from the candidates based on the recommendation of the Audit Committee, for the examination, review, and auditing of the financial statements for the second and third quarters and the annual fiscal year 2025, and the first quarter of the financial year 2026, and determining their fees by 560,000 SAR, excluding VAT.
5. Approve an amendment to the Corporate Social Responsibility Policy.
6. Approve the adoption of the Competition Policies and Standards.
7. Approve an amount of (700,000) Saudi Riyals as a bonus for the Board of Directors members for the fiscal year ending on December 31, 2024.
8. Approval of transactions and contracts concluded with related parties between the Company and the National Aquaculture Group (NAQUA) , for an amount of SAR 1,147,942 during 2024, in which former board member Dr. Abdullah Ali AlDubaikhi has an indirect interest. The nature of the transaction is the purchase of feed supplies and raw materials. This is in accordance with prevailing commercial terms and without any preferential conditions.
9. Approval the participation of former board member Dr. Abdullah Ali AlDubaikhi in a business that competes with the company's business.
10. Approval the participation of board member Mr. Jaber Mohammed Alsahli in a business that competes with the company's business.
11. Approval the delegation of the authority of the ordinary general assembly to the board of directors, as stated in paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of the general assembly's approval or until the end of the term of the delegated board of directors, whichever comes first, in accordance with the conditions set forth in the executive regulations of the Companies Law for listed joint stock companies. |
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