| Introduction | Saudi Cable Company announces the results of the Ordinary General Assembly Meeting (2nd Meeting) for the failing of the quorum in the first meeting, and consequently, second meeting was held after one hour of the first meeting, which held at the Company Head Office in Jeddah, through the means of modern technology using Tadawulaty web site, at 19:30 pm, on Monday, 18/11/1442H, corresponding to 28/06/2020, headed by the Chairman of the Board, Mr. Abdulrahman I. Alkhayal, after valid quorum attended by (11.18%) of the total Company’s shares. |
| City and Location of the General Assembly’s Meeting | Saudi Cable Company’s Head Office, Jeddah – Via means of Modern Technology. |
| Date of the General Assembly’s Meeting | 2021-06-28 Corresponding to 1442-11-18 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 11.18% |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | Names of the Board Members who are attended the meeting:- Mr. Abdulrahman I. Alkhayal (Chairman of the Board)- Mrs. Noha A. Sulaimani (Vice-Chairperson)- Mr. Abdulhadi A. Abulkhair.- Mr. Mahmoud M. Abdulgafar- Mr. Saleh A. Al Shathry- Mr. Meyassar A. Nowailati- Mr. Ali M. Al Attas- Mr. Azhar M. Kenji- Mr. Nael S. Fayez |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf | – Mrs. Noha A. Sulaimani (Chairperson of the Audi Committee).- Mr. Mahmoud M. Abdulgafar (Chairman of the Nominations & Remuneration Committee). |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1. Approved the Board of Directors Report for the fiscal year ending on 31/12/2020.2. Approved the Company’s Auditor Report for the fiscal year ending on 31/12/2020.3. Approved the financial statements for the fiscal year ending on 31/12/2020.4. Disapproved absolving the Directors from their responsibilities for the fiscal year ending on 31/12/2020.5. Approved appointment of Messrs / Al-Azm, Al-Sudairi, Al-Sheikh & Partners Co. Chartered Accountants and Consultants, External Auditors from among auditors nominated in accordance with a recommendation by the Audit Committee, for reviewing and auditing the Company quarterly statements for the (2nd, 3rd and 4th quarter) and the annual for the fiscal year 2021 and the 1st quarter of the fiscal year 2022 and determining their fees.6. Disapproved the Ordinary General Assembly delegation of the authorization powers, stipulated in Paragraph (1) of Article (71) of the Companies Law to the Company’s Board of Directors, for a period of one year from the date of approval of the Ordinary General Assembly or until the end of the session of the delegated Board of Directors, whichever comes first, in accordance with the conditions stated in Regulatory Rules and Procedures issued in implementation of the Companies Law relating to the listed Joint Stock Companies.7. Approved transactions and contracts to be executed between the Company and Midal Cables Co. in which the members of the Board of Directors (Meyassar A. Nowailati, Abdulhadi Abulkhair) have an indirect interest on it, in form of purchase of raw materials, Board of Directors remunerations, dividends distribution received, financing expenses for purchase of raw materials; which are Ordinary transactions without any preferential terms or benefits and the term of the transaction is one year; commenced from the convention date of the General Assembly, an amount of SR. 62.688.000 (Sixty two million six hundred eighty eight thousand Saudi Riyal). |
| Additional Information | N/A |
