Tadweer Association adopts a profit distribution policy

The Board of Directors of the National Environmental Recycling Company “Tadweer” announced the results of the ordinary general assembly meeting (first meeting), which included approval of the adoption of the dividend distribution policy.

The results of the meeting were as follows:

1. The financial statements for the fiscal year ending on December 31, 2023 were reviewed and discussed.

2. The Board of Directors’ report for the financial year ending on December 31, 2023 was reviewed and discussed.

3. Approval of the company’s auditor’s report for the financial year ending on December 31, 2023 AD after discussing it.

4. Approval of the appointment of Abdulaziz Saleh Al-Saleh Company, Yasser Zuman Al-Zouman and Khaled Fawzan Al-Fahd as the company’s auditors from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the semi-annual and annual financial statements from the fiscal year 2024 AD, and the first quarter of the fiscal year 2025 AD, and for fees. Its amount is 560 thousand riyals.

5. Approval to discharge the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023.

6. Approval of disbursing an amount of 672 thousand riyals, as a bonus to members of the Board of Directors for the financial year ending on December 31, 2023 AD.

7. Approval of the works and contracts concluded between the company and the Precision Metrology Factory Company, in which the Chairman of the Board of Directors, Iyad Abdulaziz Al-Nafi, has an indirect interest, which is the maintenance of containers during the fiscal year 2023 AD and there are no preferential conditions, in the amount of 16,100 riyals.

8. Approval to delegate the authority of the Ordinary General Assembly to the Board of Directors with the license contained in Paragraph (1) of Article Twenty-Seven (27) of the Companies Law for a period of one year from the date of the General Assembly’s approval or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the conditions stated in the regulations. Executive of the corporate system for listed joint stock companies.

9. Approval of the work regulations of the Nominations and Remuneration Committee.

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

11. Approval to adopt the dividend distribution policy.

12. Approval of the adoption of the conflict of interest policy and competition standards.

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