| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of ADES Holding Company is pleased to announce the results of the Ordinary General Assembly held on Thursday 01/05/2025G corresponding to 3/11/1446H after the quorum for the validity of the meeting was completed. |
| City and Location of the General Assembly's Meeting | Through modern technology means (via Tadawulaty System platform) at the Company’s premises located at Prince Turki Road, Al Kurnaish District, Al Khobar, Kingdom of Saudi Arabia |
| Date of the General Assembly's Meeting | 2025-05-01 Corresponding to 1446-11-03 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 76.49331% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following Board Members: 1. Dr. Mohamed Farouk Abdelkhalek (Vice-chairman) 2. Mr. Hatem Ahmed Elsayed Soliman (Board Member) 3. Mr. Abdulrahman Khalid Al Zamil (Board Member) 4. Mr. Fadi Adel Al Said (Board Member) 5. Mr. Haitham Muhammed AlFayez (Independent Board Member) The following Board Members were unable to attend the meeting: 1. Mr. Ayman Mamdouh Abbas (Chairman) 2. Mr. Muteb Mohammed Alshathri (Board Member) 3. Mr. Mohamed Walid Cherif (Independent Board Member) 4. Dr. Kamel Ben-Naceur (Independent 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 following committee chairpersons attended the meeting: Mr. Omar Saleh (attended on behalf of the Audit Committee Chairman) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Reviewed and discussed the Board of Directors' report for the fiscal year ending on 31 December 2024G. 2. Approved the external Auditors report for the fiscal year ending on 31 December 2024G after discussing it. 3. Reviewed and discussed the financial statements for the fiscal year ending on 31 December 2024G. 4. Approval to absolve the members of the Board of Directors from their liabilities for the fiscal year ending on 31 December 2024G. 5. Approval to appoint Ernst and Young (EY) as the External Auditor of the Company, from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the first quarter of the fiscal year 2025G, and their fees is set at Saudi Riyals 574,564, excluding Value Added Tax. 6. Approval to appoint KPMG Professional Services as the External Auditor of the Company, from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second and third quarters and the annual financial statements of the fiscal year 2025G, and the first quarter of the fiscal year 2026G, and their fees is set at Saudi Riyals 3,700,00, excluding Value Added Tax. 7. Approval to pay an amount of SAR 2,652,000 as remuneration to the Board members and committee members for the fiscal year ending on 31 December 2024G. 8. Approval to delegate the Board of Directors to distribute interim dividends on a biannual basis for the fiscal year 2025G. 9. Approved the amendment of the Remuneration Policy for Board and Committee Members, and Members of the Executive Management. 10. Approval to delegate the authority of the Ordinary General Assembly to the Board of Directors with powers referred to in Paragraph (1) of Article (27) of the Companies Law, for one year from the date of Ordinary General Assembly’s approval to the delegation or until the end of the current term of the Board of Directors, whichever is earlier in accordance with the requirements stipulated in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. |
| Additional Information | The Board of Directors of ADES Holding Company would like to thank all the respected shareholders for their participation and attendance of the Ordinary General Assembly Meeting (First Meeting). For any inquiries, please directly contact the Legal Department through: Tel: 00 966 538663210 Email: legal@adesgroup.com Website: www.adesgroup.com |
