23-03-2025
Mekdam Holding Group announces the results of the AGM and EGM. The meeting was held on 23/03/2025 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 2024 and the business plan for 2025.
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 2024.
4. Approved the proposal of the Board of Directors recommendation to distribute bonus shares at the rate of 5 shares for every 27 shares (equivalent to approximately 0.185 shares per share).
5. Released from liability the members of the Board of Directors and fixing their fees for the financial year ended 31 December 2024.
6. Approved of the auditor's report on the requirements of Article (24) of the Corporate Governance Instructions.
7. Approved the Corporate Governance Report.
8. Elect Eng. Tariq Bader S K Al-Sada member to the Board of Directors for one-year term to fulfill the remaining duration of the inaugural founding Board's term.
9. Appointed Russell Bedford an External Auditor for the Company for the financial year 2025 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 25,000,000 shares.
2. 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.