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04 November 11:33 PM

Saudi Public Transport Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)

SAPTCO 4040 -16.35% 12.23 -2.39
Element List Explanation
Introduction The Saudi Public Transport Company (SAPTCO) Announces the results of the Ordinary General Assembly Meeting (First Meeting)
City and Location of the General Assembly's Meeting Through modern technology means and from the SAPTCO’s office in Riyadh (using Tadawulaty system).
Date of the General Assembly's Meeting 2025-05-26 Corresponding to 1446-11-28
Time of the General Assembly’s Meeting 18:30
Percentage of Attending Shareholders 27.23 %
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The following Board members were attended the meeting:

1) Mr. Baker Bin Abdulrhamn Almuhana. (Chairman of the Board of Directors).

2) Mr. Yaser Bin Sulaiman Aldawood. (Vice Chairman)

3) Eng. Khalid Bn Abdullah ALHOGAIL

4) Dr. Saud Bin Mohammed Alnimir.

5) Dr. Fadi Bin Saleh Al-Buhairan.

6) Mr. Adel bin Abdulaziz Al Shadi

7) Mr. Walid Bin Abdurahman Alhabib.

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf 1. Mr. Alaa Bin Abdullah Alfadda (Chairman of the Audit Committee).

2. Mr. Baker Bin Abdulrhamn Almuhana. (Chairman of the Investment and Strategy Committee).

3. Dr. Saud bin Mohammed Al-Nimr (Chairman of the Remuneration & Nomination Committee).

Voting Results on the Items of the General Assembly's Meeting Agenda's 1. The Board of Directors’ report for the fiscal year ending December 31, 2024 was reviewed and discussed.

2. Approval of the audit of the company’s accounts for the fiscal year ending December 31, 2024 AD, after discussion.

3. The financial statements for the fiscal year ending December 31, 2024 were reviewed and discussed.

4. Approval to discharge the members of the Board of Directors from liability for the fiscal year ending on December 31, 2024.

5. Approval of an amount of SAR 1,200,000 as a management bonus for the fiscal year ending December 31, 2024.

6. Approval of the appointment of EY Professional Services as the company's auditor from among the candidates based on the recommendation of the audit committee, to examine, and audit the financial statements for the second, third quarters and the annual of fiscal year 2025, and the first quarter of fiscal year 2026, and total fees (1,030,000 SAR)

7. Approval of delegating the Board of Directors the authorization powers exercise of the Ordinary General Assembly stipulated in paragraph (1) of Article Twenty-Seven (27) of the Companies Law for a period of one year starting from the date of approval by the General Assembly or until the end of the delegated Board of Directors term, whichever earlier, in accordance with the Implementing Regulations of the Companies Law for listed joint-stock companies.

8. Approval of amending the remuneration policy for members of the Board of Directors, its committees, and executive management.

9. Approval of business and contracts concluded between the company and the Saudi Emirati Company (SEITCO), in which the Member directors , Eng. Khalid bin Abdullah Alhogail (Executive), has an indirect interest, as he is the Chairman of the Board of Directors of the Saudi Emirati Company (SEITCO), in which the company owns (50%) of its capital, and which were concluded within the normal business and without any preferential conditionsIt is a contract to lease housing and bus parking spaces for (SEITCO) in the company’s garage for an amount of (5.4) million riyals, presented to (SETCO) for the year 2024 AD.

10. Approval of business and contracts concluded between the company and the Saudi Emirati Company (SEITCO), in which the Board Member, Eng. Khalid bin Abdullah Alhogail (Executive), has an indirect interest, as he is the Chairman of the Board of Directors of the Saudi Emirati Company (SEITCO), in which the company owns (50%) of its capital, and which were concluded within the normal business and without any preferential conditions. It is the maintenance and repair of buses, in the amount of (25.7) million riyals, which was presented to (SETCO) for the year 2024 AD.

11. Approval of business and contracts concluded between the company and Digital Mobility Investment Solutions Company, in which the Board Member, Eng. Khalid bin Abdullah Alhogail (Executive), has an indirect interest, as he is the Chairman of the Board of Directors of Digital Mobility Investment Solutions Company, in which the company owns (100%) of its capital, and which were concluded within the normal course of business and without any preferential conditions. It is a provision of financial amounts to the subsidiary company to support the working capital in the amount of (43.6) million riyals for the year 2024 AD.

12. Approval of business and contracts concluded between the company and Sat Transport Company, in which the member of the Board of Directors, Engineer Khalid bin Abdullah Alhogail (Executive), has an indirect interest, as he is the Chairman of the Board of Directors of Sat Transport Company, in which the company owns (85%) of its capital, and which were concluded within the normal business and without any preferential conditions. It is a contract to lease housing, offices and parking spaces for Sat Company’s buses for an amount of (5.4) million riyals for the year 2024 AD.

13. Approval of business and contracts concluded between the company and SAT Transport Company, in which the Board Member, Engineer/ Khalid bin Abdullah Alhogail (Executive), has an indirect interest, as he is the Chairman of the Board of Directors of SAT Transport Company, in which the company owns 85% of its capital, and which were concluded within the normal business and without any preferential conditions, which is to provide maintenance services for SAT buses for an amount of (37) million riyals for the year 2024 AD.

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