Mekdam Holding Group: The AGM and EGM Endorses items on it’s agenda
Mekdam Holding Group announces the results of the AGM and EGM. The meeting was held on 27/03/2022 and the following resolution were approved
Ordinary General Assembly:
1. Heard and approved the report of the Board of Directors on the Company’s activities, financial position for the year ended 31 December 2021 and the business plan for 2022.
2. Heard and approved the report of the External Auditors on the balance sheet and on the accounts submitted by the Board of Directors.
3. Discussed and approved the financial statements for the year ended 31 December 2021.
4. Approved the proposal of the Board of Directors recommendation to distribute 35% cash dividends and 36% as bonus shares to the shareholder.
5. Released from liability the members of the Board of Directors and fixing their fees for the financial year ended 31 December 2021.
6. Elected Mr. Tariq Bader Al-Sada a member to the Board of Directors for 3 years.
7. Discussed and approved the Corporate Governance Report.
8. Appointed Russell Bedford an External Auditor for the Company for the financial year 2022 and fixed the fees.
Extraordinary General Assembly:
1. Approved the increase of the capital by the number of Bonus shares approved by the AGM’s resolution equal to 36% amounting to 18,000,000 shares.
2. Allow the company to borrow from major founders without interest.
3. Authorized the Chairman of Board of Directors to complete all the necessary procedures to amend the Articles of Association to reflect the foregoing, including the right to attend and sign all the needed documents at the Ministry of justice and Ministry of Commerce and trade and any other official governmental entities.