News & Announcements

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GHIDA ALSULTAN

28 November, 2024 15:48

Ghida Alsultan for Fast Food Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)

Element List	Explanation
Introduction	Ghida Al-Sultan Fast Food Company announces the results of the Ordinary General Assembly Meeting (the first meeting) held at 6:30 PM on Tuesday, the 24th of Jumada Al-Thani, corresponding to November 26, 2024. The meeting was conducted using modern technology via the Tadawulati system, following the completion of the legal quorum for the validity of the Ordinary General Assembly meeting.
City and Location of the General Assembly's Meeting	The meeting will be held at the company’s headquarters in Jeddah, using modern technology and through the Tadawulaty system.
Date of the General Assembly's Meeting	2024-11-26 Corresponding to 1446-05-24
Time of the General Assembly’s Meeting	18:30
Percentage of Attending Shareholders	80.75%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The following BOD members attended: Mr. Arif Qayed Al-Mesbahi - Chairman of the BOD Mr. Badr Hassan Al-Othman - Member of the BOD Mr. Ibrahim Abdullah Al-Hadithi - Member of the BOD He apologized for not attending the assembly: Prince/Mansour bin Saad Al Saud - Vice Chairman of the BOD Mr. Fares Hani Al Turki - Member of the BOD
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	1. Ibrahim Al-Habdan - Chairman of the Audit Committee
Voting Results on the Items of the General Assembly's Meeting Agenda's	The voting results on the agenda items of the assembly were as follows: Approval of the Board of Directors' Work Regulations. Approval of the Audit Committee Regulations. Approval of the Policies and Standards for Membership in the Board of Directors. Approval of the Whistleblowing Policy. Approval of the Compensation and Allowances Policies for the Board of Directors and the committees deriving from the board. Approval of the Nomination and Compensation Committee Work Regulations. Approval of the transactions and contracts between the company and "Consultants Without Borders" law firm, in which board member Prince Mansour bin Saad Al Saud has an indirect interest. This involves a legal services contract for the calendar year 2025, without preferential terms, for an amount of 70,000 SAR. Approval of the transactions and contracts between the company and Abdulrahman Abdulaziz Al-Raseemi Foundation, in which the company's CEO Majid Al-Musbahi has an indirect interest. This involves a contract for construction work for the company in 2024, without preferential terms, for an amount of 1,026,906.69 SAR. Approval of the transactions and contracts between the company and Abdulrahman Abdulaziz Al-Raseemi Foundation, in which the Chairman of the Board, Aref Al-Musbahi, has an indirect interest. This involves a contract for construction work for the company in 2024, without preferential terms, for an amount of 1,026,906.69 SAR.
Additional Information	For any inquiries regarding the agenda items of the assembly, please contact the Shareholder Relations Department: Phone: 0126226158, extension 1020 Mailing Address: Sultan Food Company for Fast Food Shareholder Relations P.O. Box 23717 Jeddah 5103 Email: Majed@ghidas.com

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