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QUARA

17 October, 2024 08:08

Quara Finance Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )

Element ListExplanation
Introduction Quara Finance Co. announces the results of the Extraordinary General Assembly meeting (the first meeting), which was held at 19:30 on 13/04/1446, corresponding to 16/10/2024, using modern technology means through the Tadawulaty system after the quorum was completed.
City and Location of the General Assembly's Meeting In Riyadh city at the company’s location, the meeting held virtually through modern means of technology through the Tadawulaty system.
Date of the General Assembly's Meeting 2024-10-16 Corresponding to 1446-04-13
Time of the General Assembly’s Meeting 19:30
Percentage of Attending Shareholders 95.15891
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The following all Board members attended the meeting: 1) Mr. Abdullah bin Abdulrahman Al-Shilash (Chairman) 2) Mr. Abdulkarim bin Abdulaziz Al-Doaiji (Vice Chairman) 3) Mr. Tariq bin Mohammed Al-Jarallah 4) Mr. Khalid bin Mohammed Faqih 5) Mr. Abdulrahman bin Abdulaziz Al-Misned 6) Mr. Mohammed bin Musfir Al-Malki 7) Mr. Tarek Sami Zeitoun 8) Mr. Anand Sudarshan Kumar Raheja
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf Mr. Essam Bin Abdulaziz Al-Segair (Chairman of the Audit 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 on 31/12/2023 was reviewed and discussed. 2. Approval of the auditor/s report on the Company’s accounts for the fiscal year ending on 31/12/2023 after discussing the report. 3. The financial statements for the fiscal year ending on 31/12/2023 were reviewed and discussed. 4. Approval of the appointment of the company’s external auditor M/s PricewaterhouseCoopers (PwC) among the candidates based on the Audit Committee's recommendation. The appointed auditor/s shall examine, review and audit the second, third quarters and annual financial statements, of the fiscal year 2024, and the first quarter of the fiscal year 2025 and determine its fees with the amount of SAR 750,000. 5. Approval of the business and contracts that concluded between the company and Al-Khair Capital Saudia, in which Board Members Mr. Abdullah bin Abdulrahman Al-Shilash, Mr. Abdulrahman bin Abdulaziz Al-Misned and Mr. Majed bin Abdulrahman bin Abdulaziz Al-Qasem (previous Board of Directors Member for the period ended on 29/02/2024) have an indirect interest, specifically an investment portfolio management agreement. In 2023, the revenue balance amounted to SAR 3,330,772, and these contracts and resulting balances were executed without any preferential terms or advantages. 6. Approval to amend the company’s bylaws in line with the new companies’ bylaws, and re-arranging the articles of the company bylaws and numbering them to be consistent with the proposed amendments. 7. Approval of the remuneration policy for Board members, sub-committees, and executive management. 8. Approval of the dividend distribution policy. 9. Approval of the corporate social responsibility policy. 10. Approval of the disbursement of an amount of SAR 245,250 (two hundred forty-five thousand two hundred fifty Saudi Riyals) as remuneration to Board members for the fiscal year ending December 31, 2023. 11. Approval of Board of Directors’ Liability Discharge for the fiscal year ended December 31, 2023.
Additional Information For inquiries, please contact the Shareholders Affairs during official working hours on telephone no. 011 829 5170 or by email: IR@QuaraFinance.com

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