Alwasail Industrial Co. Announces the Results of the 12th Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Alwasail Industrial Company is pleased to announce the results of the 12th extraordinary general assembly (first meeting) via modern technology at 7:30 PM on Sunday 08-03-1447 AH corresponding to 31-08-2025 AD, after the legal quorum for the validity of the assembly meeting was achieved. |
| City and Location of the General Assembly's Meeting | AlQassim- Burayadh- The head office of the company -
By means of modern technology |
| Date of the General Assembly's Meeting | 2025-08-31 Corresponding to 1447-03-08 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 69.81 % |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1- Dr. Abdulrahman Abdullah Almushayqih (Chairman)
2- Mr. Saleh Abdullah Almushekih (Vice Chairman) 3- Mr. Naser Abdullah Almushayqih (Board member) 4- Mr. Abdulaziz Abdullah Almushayqih (Board member) 5- Mr. Abdulqader Abdullah Almushayqih (Board member) 6- Dr. Khalid Abdulaziz Alsharidah (Board member) 7- Mr. Ibrahim Saeed Almubarak (Board member) 8- Mr. Rakan Mohammed Abunayyan (Board member)
Absentees: 1- Eng. Mosaed Sulaiman Alohali (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 | 1- Ibrahim Saeed Almubarak - Chairman of the Audit Committee.
2- Dr. Khalid Abdulaziz Alsharidah - Chairman of the Nominations and Remuneration Committee. 3- Mr. Rakan Mohammed Abunayyan - Chairman of the Investment Committee. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the amendment to Article (4) of the Company's Articles of Association, relating to (Company Objectives).
2. Approval of the amendment to Article (15) of the Company's Articles of Association, relating to (Company Management). 3. Approval of the amendment to Article (39) of the Company's Articles of Association, relating to (Company Finances). 4. Approval of the amendment to the Audit Committee Bylaws. 5. Approval of the amendment to the Conflict of Interest and Competition Standards Policy. 6. Approval of the amendment to the Board of Directors' Bylaws. 7. Approval of the amendment to the Policy Regulating Relations with Stakeholders.
8. Approval of the business and contracts concluded for the fiscal year ending 12/31/2024 between the company and (Al-Wasail Al-Insha’iah Company Limited), in which the board member, Mr. Saleh Abdullah Al-Mushaiqeh, has a direct interest, and the board members have an indirect interest, as follows: (Dr. Abdulrahman Abdullah Al-Mushaiqeh, Mr. Nasser Abdullah Al-Mushaiqeh, Mr. Abdulaziz Abdullah Al-Mushaiqeh, and Mr. Abdulqader Abdullah Al-Mushaiqeh). These contracts are for the supply of plastic materials, with a total transaction value of (7,607,747) riyals, for a period of one year, renewable annually (without preferential conditions).
9. Approval of the business and contracts concluded for the fiscal year ending 12/31/2024 between the Company and (Thaqeb Plastic Company), in which the Board Member, Mr. Saleh Abdullah Al-Mushaiqeh, has a direct interest, and the Board Members have an indirect interest, as follows: (Dr. Abdulrahman Abdullah Al-Mushaiqeh, Mr. Nasser Abdullah Al-Mushaiqeh, Mr. Abdulaziz Abdullah Al-Mushaiqeh, and Mr. Abdulqader Abdullah Al-Mushaiqeh). These contracts are for (crushed damaged plastic materials), with a total transaction value of (12,452,018) riyals, for a period of one year, renewable annually (without preferential conditions).
10. Approval of the business and contracts concluded for the fiscal year ending 12/31/2024 AD between the company and (Board Member Mr. Saleh Abdullah Al-Mishaiqeh), in which he has a direct interest, and the members of the Board of Directors have an indirect interest, as follows: (Dr. Abdulrahman Abdullah Al-Mishaiqeh, Mr. Nasser Abdullah Al-Mishaiqeh, Mr. Abdulaziz Abdullah Al-Mishaiqeh, and Mr. Abdulqader Abdullah Al-Mishaiqeh), which is a (warehouse lease contract) with a total transaction amounting to (206,644) riyals, for a period of one year, renewed annually (without preferential conditions). |
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