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Al Khaleej Training and Education Company announces the results of the ordinary general assembly meeting (first meeting)

Al Khaleej Training and Education Company announces the results of the ordinary general assembly meeting (first meeting)

ELEMENT LIST EXPLANATION
Introduction The board of directors of the Al Khaleej Company for Training and Education is pleased to announce the results of the ordinary general assembly meeting (the first meeting) which was held at exactly eleven o’clock in the evening on Tuesday 12/09/1441 AH corresponding to 05/05/2020 AD by means of modern technology (remote voting) This is in accordance with the directive of the Capital Market Authority as per its decision dated 07/21/1441 AH corresponding to 3/16/2020 to suspend the contract of general assemblies for companies listed in the financial market in attendance until further notice, after the completion of the necessary quorum for the validity of the meeting, where the attendance rate reached Authenticity and agency by electronic voting Remotely distance to (50.52%) of the company’s capital.
City and Location of the General Assembly’s Meeting The company’s headquarters are located in Street No. 64, which is intersected east with Olaya Street, Building No. 9, in the Olaya district of Riyadh, by means of modern technology.
Date of the General Assembly’s Meeting 2020-05-05 Corresponding to 1441-09-12
Time of the General Assembly’s Meeting 11:00
Percentage of Attending Shareholders ( 50.52 % )
Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees The meeting was attended by:1. Mr. Abdul Aziz bin Rashid Al-Rashid – Vice Chairman of the Board

2. Mr. Ahmed bin Mohamed Salem Al-Serri

3. Mr. Abdulaziz bin Abdul Rahman Al-Rattqan

4. Mr. Ahmed bin Ali Ahmed Al-Shadawi

5. Dr. Abdulaziz bin Abdul Rahman Al-Qwaiz

6. Eng. Abdul Mohsen bin Abdul Aziz Al Yahya

7. Eng. Al-Walid bin Abdul Razzaq Al-Duraian

I apologize for attending the meeting: –

Mr. Abdulaziz bin Hammad Nasser Al-Blaihid – Chairman of the Board

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 was attended by:1. Mr. Abdulaziz bin Abdul Rahman Al-Roktan – Chairman of the Nomination and Remuneration Committee

2. Mr. Ahmed bin Mohamed Salem Al-Sari – Chairman of the Audit Committee

Voting Results on the Items of the General Assembly’s Meeting Agenda’s 1. Approving the company’s financial statements for the fiscal year ending on December 31, 2019.2. Approval of the company’s auditor’s report for the fiscal year ending on 12-31-2019.

3. Approving the report of the company’s board of directors for the fiscal year ending on 12-31-2019.

4. Approving the appointment of the office of Al-Azem, Al-Sudairi, Al-Sheikh and their partners as accountants and legal auditors, as an auditor of the company from among the candidates based on the recommendation of the audit committee to examine, review and audit the financial statements for the quarters (second, third, fourth and annual) of the fiscal year 2020 AD and the first quarter of the fiscal year 2021 AD and determine His fees.

5. Approving the recommendation of the Board of Directors to distribute cash dividends to shareholders for the fiscal year ending December 31, 2019 at (0.25) quarter riyals per share, which equates to (2.5%) of the nominal value per share, with a total amount of (11,250,000) Eleven million, two hundred and fifty thousand riyals, provided that the shareholders who own the shares are entitled to the day of the assembly and who are registered in the company’s shareholders ’register with the Deposit Center at the end of the second trading day following the date of the association’s meeting and the date of the distribution of profits will be announced later.

6. Approving to absolve the members of the company’s board of directors from their liability for the fiscal year ending on December 31, 2019.

7. Approving the disbursement of (900,000) nine hundred thousand riyals as a reward for the members of the company’s board of directors for the fiscal year ending on 12-31-2019, at (100,000) one hundred thousand riyals for each board member and (200,000) two hundred thousand riyals for the chairman of the board of directors.

8. Approval of delegating the company’s board of directors the authority of the general assembly of shareholders with the license mentioned in paragraph (1) of Article 71 of the companies ’system, for a period of one year from the date of approval of the shareholders’ general assembly or until the end of the delegated board of directors session, whichever is earlier, according to the conditions mentioned in the controls And the regulatory procedures issued by the Capital Market Authority in implementation of the system of companies for listed joint stock companies.

9. Approval of the works and contracts that will be concluded between Al-Khaleej Training and Education Company and Al-Khaleej Computer and Electronic Equipment which are for members of the Board of Directors: Professor: Abdulaziz bin Hammad Al-Blaihed (non-executive member), and Professor: Abdul Aziz bin Rashid Al-Rashed (non-executive member) and Professor: Ahmed Bin Ali Al-Shadwi (non-executive member), and Professor: Ahmed bin Mohammed Al-Sirri (non-executive member) indirect interest in it (related parties), and the nature of transactions is a lease contract for offices from the Gulf Company for Training and Education with a total area of (1366) one thousand three hundred Sixty-six square meters. The value of the contract is (1.366,000) one million three hundred and sixty six thousand riyals annually, the duration of the contract (3) years, and the value of the deal for the year 2019 AD amounted to (1.366,000) one million three hundred sixty six thousand riyals and the contract does not have any conditions or preferential benefits.

10. Approval of the works and contracts that will be concluded between the Gulf Company for Training and Education and Al-Falak for Electronic Equipment and Supplies which are for members of the Board of Directors: Professor: Abdulaziz bin Hammad Al-Blaihed (non-executive member), and Professor: Abdul Aziz bin Rashid Al-Rashed (non-executive member) and Professor: Ahmed bin Ali Al-Shadwi (non-executive member), and Professor: Ahmed bin Muhammad Al-Serri (non-executive member) an indirect interest in it (related parties), and the nature of transactions is a building lease contract for the Gulf Training and Education Company with a total area of (4000) four thousand Square meters . The value of the contract is (900,000) nine hundred thousand riyals, the duration of the contract (7) years, and the value of the deal for the year 2019 AD amounted to (900,000) nine hundred thousand riyals and the contract does not have any preferential conditions or benefits.

11. Approval of the works and contracts that will be concluded between Al Khaleej Training and Education Company and Al Falak Electronic Equipment and Supplies Company, which are for the members of the Board of Directors: Professor: Abdulaziz bin Hammad Al-Blaihed (non-executive member), and Professor: Abdul Aziz bin Rashid Al-Rashed (non-executive member) and Professor: Ahmed Bin Ali Al-Shadawi (non-executive member), and Professor: Ahmed bin Mohammed Al-Sirri (non-executive member)) an indirect interest in it (related parties), and the nature of transactions is an agreement to provide consulting services from the company to Al-Falak Company in the field of employment and recruitment of specialized workers and work Training courses that qualify employees To do their job assignments. The value of the contract is (1,500,000) one million and five hundred thousand riyals annually, the duration of the contract is (1) years. The value of the deal for the year 2019 has reached an amount of (1,500,000) one million five hundred thousand riyals and there are no preferential terms or conditions in the contract.

12. Approval of the works and contracts that will be concluded between the Gulf Company for Training and Education and Al-Falak for Electronic Equipment and Supplies which are for members of the Board of Directors: Professor: Abdulaziz bin Hammad Al-Blaihed (non-executive member), and Professor: Abdul Aziz bin Rashid Al-Rashed (non-executive member) and Professor: Ahmed bin Ali Al-Shadwi (non-executive member),

Additional Information In case of any inquiries, we hope to contact the shareholders relationship management on phone number 0114623260 ext. 1593,Or by e-mail: adel-amin@alkhaleej.com.sa

God bless ,,,

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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