The “luxury” general general agrees to distribute 8.2 million riyals cash profits

The luxury men’s sewing company announced its shareholders the results of the extraordinary general assembly meeting (the first meeting), which was held last Thursday.
The company said in a statement on Saudi Arabia’s circulation: The results of the voting on the association’s agenda included:
1. Approval to delete Article (12) of the company’s basic system related to (shareholders record).
2. Approval of adding a material to the company’s basic system with (12) related to (excellent shares and recovered stocks).
3. Approval of adding a material to the company’s basic system with (13) related to (shares of shares).
4. Approval of adding a material to the company’s basic system with (14) related to (stock trading).
5. Approval of the amendment of Article (17) of the company’s basic system related to (the end or end of the membership of the Council).
6. Approval of adding an article to the company’s basic system with (18) related to (the end of the board of directors, the retirement of its members or the vacancy of membership).
7. Approval of amending Article (20) of the company’s basic system related to (the powers of the president, deputy, managing director and secretary).
8. Approval of amending Article (21) of the company’s basic system related to (the powers of the Board of Directors).
9. Approval of the amendment of Article (35) of the company’s basic system related to (the quorum of the ordinary general assembly).
10. Approval of amending Article (36) of the company’s basic system related to (the quorum of the extraordinary general assembly).
11. Approval of amending Article (43) of the company’s basic system related to (accounting records and financial statements).
12. Approval of the amendment of Article (46) of the company’s basic system related to (annual profit distribution).
13. Approval of the recommendation of the Board of Directors to distribute cash dividends in the amount of (8,280,000) riyals to shareholders for the financial period ending (06/30/2024 AD) by (0.23) per share and at a rate of (23%) of the capital, provided that the entitlement to shareholders owned by shares at the end of the trading day of the General Assembly and the registered in the company’s shareholders ’registry at the Securities Depository Center Company (the deposit center) At the end of the second trading day following the date of entitlement.
The payment of profits will begin by transferring them to the accounts associated with the beneficiaries of the shareholders who are entitled to from Tuesday 11/03/2025 AD through the payment agent – the Securities Depository Center Company (deposit) and any shareholder can, in the event of a failure to deposit in his account, call the payment agent – the Securities Deposit Center (deposit) or communicate with the company.
14. Approval of the recommendation of the Board of Directors using a portion of the offering proceeds for the two years 2025 m and 2026 m amounting to: (20,000,000), as an Islamic deposit in a Saudi bank to achieve appropriate returns until the time of its use according to the prevailing rate at the time, provided that the company uses the amount to finance the company’s plan as shown in the issuance bulletin.
15. Approval of amending the review of the review committee.
16. Approval of the amendment of the Governance Regulation.
17. Approval of reward policy.