News & Announcements

ALMUJTAMA MEDICAL

01 July, 2024 08:08

Almujtama Alraida Medical Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

Element List	Explanation
Introduction	Almujtama Alraida Medical Co. announces the results of the Ordinary General Assembly Meeting (first meeting), which was held via modern technology at eight o’clock in the evening on Sunday, June 30, 2024 AD, corresponding to Dhu al-Hijjah 24, 1445 AH After the quorum is reached, the meeting will be valid according to the company’s bylaws.
City and Location of the General Assembly's Meeting	The company's main headquarters is in Jeddah, Al-Muhammadiyah district, through modern technological means.
Date of the General Assembly's Meeting	2024-06-30 Corresponding to 1445-12-24
Time of the General Assembly’s Meeting	20:00
Percentage of Attending Shareholders	54.86 %
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The following members of the Board of Directors attended the meeting: 1- Mr. Omar Yousef Khoja (Chairman of the Board of Directors) 2- Mr. Yousef Omar Khoja (Vice Chairman of the Board of Directors) 3-Pharmacist/ Abdulaziz Omar Khoja (Managing Director) 4- Mr. Ahmed Abdel-Ilah Maghribi (Member of the Board of Directors) 5- Mr. Abdulaziz Ahmed Bin Dayel (Member of the Board of Directors)
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 committee chairs: 1. Mr. Awad Hamouda Al-Rubaie (Chairman of the Audit Committee) 2. Mr. Ahmed Abdel-Ilah Maghribi (Chairman of the Nominations and Remuneration Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	1. The Board of Directors’ report for the financial year ending on December 31, 2023 was reviewed and discussed. 2. The financial statements for the fiscal year ending on December 31, 2023 were reviewed and discussed. 3. Approval of the auditor’s report for the financial year ending on December 31, 2023 AD after discussing it. 4. Approval of the Board of Directors’ recommendation not to distribute cash dividends to shareholders for the year 2023. 5. Approval of disbursing an amount of (866,306) riyals as a bonus to members of the Board of Directors for the financial year ending on December 31, 2023 AD. 6. Approval to release the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023. 7. Approval of appointing Talal Abu Ghazaleh & Partners Company, for a fee of (275,000) Saudi riyals, excluding value-added tax, as the company’s external auditor from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the first half and annual of the fiscal year ending on December 31, 2024 AD. . 8. Approval of the Board of Directors’ decision to appoint Mr. Abdul Aziz Ahmed Abdul Latif Bin Dayel as a member of the Board of Directors (independent) starting from the date of his appointment on 02-08-2024 AD to complete the Board’s session until the end of the current session on 31-07-2026 AD, succeeding the previous member, Mr. / Hisham Omar Baroum (non-executive). 9. Approval to delegate the authority of the Ordinary General Assembly to the Board of Directors with the license contained in Paragraph (1) of Article Twenty-Seven 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 session of the delegated Board of Directors, whichever is earlier, in accordance with the conditions stated in the Executive Regulations. The corporate system for listed joint stock companies. 10. Approval to delegate to the Board of Directors the authority of the Ordinary General Assembly with the license contained in Paragraph (2) of Article Twenty-Seven 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 delegated Board of Directors’ session, whichever comes first, for the activity of pharmacies in accordance with the conditions stated. In the executive regulations of the corporate system for listed joint stock companies. 11. Approval of the works and contracts concluded between the company and Mr. Omar Yousef Khojah, in which the Chairman of the Board of Directors, Mr. Omar Yousef Khojah, has a direct interest, which is a good loan granted to the company in the amount of only thirteen million riyals (13,000,000) Saudi riyals to support plans. The strategic expansion of the company is to be paid within 3 years without any preferential benefits to Mr. Omar Yousef Khojah, noting that the transactions are for the year 2023 AD. 12. Approval of the works and contracts concluded between the company and Mr. Omar Yousef Khojah, in which the Chairman of the Board of Directors, Mr. Omar Yousef Khojah, has a direct interest, which is a lease contract in his capacity as the lessor, and the company is the lessor in the amount of only four million two hundred thousand riyals (4,200,000). Saudi riyals, excluding value-added tax, for the entire contract period (10 years), and there are no preferential conditions or benefits, noting that the transactions are for the year 2024 AD. 13. Approval of the business and contracts concluded between the company and the Bright Screens Company, commercial registration No. 4030496645, a one-person limited liability company wholly owned by Mr. Muhammad Omar Khojah (related party), which is for the Chairman of the Board of Directors, Mr. Omar Yousef Khojah, and members of the Board of Directors, Mr. Yousef Omar Khojah and the pharmacist/ Abdulaziz Omar Khojah have an indirect interest in it, which is a contract for the supply and installation of advertising screens for 80 branches with a two-year warranty in the amount of one million seven hundred and sixty-seven thousand seven hundred and eighty riyals and nothing more than (1,767,780) Saudi riyals including value-added tax, and no There are no preferential conditions or benefits, noting that the transactions are for the year 2024 AD.

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