Pan Gulf Marketing Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Pan Gulf Marketing Company is pleased to announce to its shareholders the results of the Ordinary General Assembly Meeting (First Meeting) held on 19-12-1446 AH corresponding to 15-06-2025 AD, Sunday at 18:30, via modern technology. |
| City and Location of the General Assembly's Meeting | At the main center in Riyadh, using modern technology. |
| Date of the General Assembly's Meeting | 2025-06-15 Corresponding to 1446-12-19 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 88.04% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the Ordinary General Assembly meeting:
1- Mr. Abdullah bin Ahmed Al-Manea (Chairman of the Board of Directors) 2- Mr. Khalid bin Abdulaziz Al-Babtain (Vice Chairman of the Board of Directors) 3- Mr. Omar bin Mohammed Al-Hoshan (Board Member) 4- Mr. Thamer bin Mohammed bin Muammar (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 meeting of the Assembly was attended by the Chairman of the Audit Committee, Mr. Omar bin Mohammed Al-Hoshan. |
| 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- The auditor's report for the fiscal year ending December 31, 2024 was approved 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 December 31, 2024. 5- Approval to appoint Messrs. Ibrahim Ahmed Al-Bassam & Partners, Certified Public Accountants, as the company's auditors, from among the candidates nominated by the Audit Committee, to examine, review, and audit the semi-annual and annual financial statements for the year 2025. Their fees were set at SAR 706,000, excluding value-added tax. 6- Approval of the disbursement of SAR 448,000 as remuneration to the Board of Directors for the fiscal year ending December 31, 2024. 7- Approval of the business and contracts concluded between the Company and Al-Hoshan Holding Company, in which the Chairman of the Board of Directors, Mr. Abdullah bin Ahmed Al-Manea, has an (indirect) interest, and the Vice Chairman, Mr. Khaled bin Abdulaziz Al-Babtain, has an (indirect) interest. These contracts are for (representative expenses for one year for the year 2024 without any preferential conditions) in the amount of SAR 2,401,802. 8- Approval of the business and contracts concluded between the Company and Al-Hoshan Holding Company, in which the Chairman of the Board of Directors, Mr. Abdullah bin Ahmed Al-Manea, has an (indirect) interest, and the Vice Chairman, Mr. Khaled bin Abdulaziz Al-Babtain, has an (indirect) interest. These contracts are for (end-of-service benefits for one year for the year 2024 without any preferential conditions) in the amount of SAR 38,038. 9- Approval of the business and contracts concluded between the company and Al-Hoshan Holding Company, in which the Chairman of the Board of Directors, Mr. Abdullah bin Ahmed Al-Manea, has an (indirect) interest, and the Vice Chairman, Mr. Khaled bin Abdulaziz Al-Babtain, has an (indirect) interest. These contracts are for (shared services for one year for the year 2024 AD, without any preferential terms), amounting to 4,577,886 Saudi riyals. 10- Approval of the business and contracts concluded between the company and (Asas Pan the Gulf Real Estate Investment Company), in which the Chairman of the Board of Directors, Mr. Abdullah bin Ahmed Al-Manea, has an (indirect) interest, and the Vice Chairman, Mr. Khaled bin Abdulaziz Al-Babtain, has an (indirect) interest. These contracts are for (shared services for one year for the year 2024 AD, without any preferential terms), amounting to 2,863,147 Saudi riyals. 11- Approval of the business and contracts concluded between the company and Asas Pan the Gulf Real Estate Investment Company, in which the Chairman of the Board of Directors, Mr. Abdullah bin Ahmed Al-Manea, has an (indirect) interest, and the Vice Chairman, Mr. Khaled bin Abdulaziz Al-Babtain, has an (indirect) interest. These contracts consist of (one-year rentals for the year 2024 without any preferential terms) in the amount of 1,225,000 Saudi Riyals. 12- Approval of the business and contracts concluded between the company and Asas Pan the Gulf Real Estate Investment Company, in which the Chairman of the Board of Directors, Mr. Abdullah bin Ahmed Al-Manea, has an (indirect) interest, and the Vice Chairman, Mr. Khaled bin Abdulaziz Al-Babtain, has an (indirect) interest. These contracts consist of (one-year expenses for the year 2024 without any preferential terms) in the amount of 4,088,147 Saudi Riyals. 13- Approval of distributing cash dividends to shareholders for the fiscal year ending 12/31/2024 AD, in the amount of (7,500,000) Saudi Riyals, at a rate of (1) Saudi Riyal per share, which represents (10%) of the nominal value of each share. The right to cash dividends will be for the company’s shareholders who own shares at the end of trading on the day of the General Assembly meeting and who are registered in the company’s shareholders’ register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, provided that the date of dividend distribution is July 3, 2025 AD. |
| Additional Information | For any inquiries, please contact the Investor Management Department at:
- Phone number: 0114732595
- Email: [email protected] |
Comments