The Agek General Agency agrees to convert the reserve balance into the profits

Al -Jadad Al -Alamia Company for Communications and Information Technology “Iektec” announced the results of the extraordinary general assembly meeting (the first meeting), which was held last Thursday.
According to the company’s statement on Saudi Arabia’s circulation, the results of voting on the association’s agenda included:
1. Approval of the company’s audit auditor’s report on the fiscal year ending on December 31, 2024 AD after its discussion.
2. See the Board of Directors report for the financial year ending and discussing it.
3. See the company’s financial statements for the fiscal year ending and discuss and discuss them.
4. Approval of the Persons of the Board of Directors for the fiscal year ending on December 31, 2024 AD
5. Approval of the appointment of PKF Al -Bassam, accountants and legal auditors – as the company’s account references from among the candidates based on the recommendation of the audit committee; This is to examine, review and audit the annual financial statements of the company ending on 31-12-2025 AD and the initial financial statements of the company for the first half ended on 30 2013-2026 AD with fees and amount to (225,000) riyals.
6. Approval of the Board of Directors to distribute phased profits to shareholders in a half or a quarterly share for the fiscal year ending on 12-31-2025 AD.
7. Approval of the authorization of the Board of Directors with the validity of the ordinary general assembly with the licensing contained in paragraph (1) of Article 27 of the companies system, for a year from the date of approval of the General Assembly or until the end of the authorized board of directors, whichever is earlier, according to the conditions mentioned in the executive regulations of the system of companies for the included joint stock companies
8. Approval to transfer the formal reserve balance of (2.529,041) riyals, as well as in the annual financial statements ending (12/31/2024 AD) for the balance of the remaining profits.
9. Approval of the business and contracts that took place between the company and the Lynn Al -Khair Trading Company, which is for each of the Chairman of the Board (Abdullah Muhammad Abdullah Al Shuraim) and the Managing Director (Saud Muhammad Abdullah Al Shuraim) and Deputy Chairman (119,620) riyals (city transactions) and transactions (sales of devices), knowing that the contract started in 2023 AD and the value of transactions during the year 2024 AD is an amount of (349,963) riyals (city transactions) and the value of the amount paid during the year 2024 AD (606,087) riyals and the final balance of 2024 AD (1,190,591) riyals, and these transactions are carried out In the context of normal business and according to the prevailing commercial conditions and without any preferential conditions.
10. Approval of the works and contracts that took place between the company and the agricultural platform company, which is for each of the Vice -Chairman (Mishaal Muhammad Nasser Al -Kathiri) and the Managing Director (Saud Muhammad Abdullah Al Shuraim) an indirect interest in which they are members of the board of directors in the Agricultural Platform Company, which are transactions (payments on behalf And the value of the amount paid during the year 2024 AD is (712,690) riyals, and the final balance for the year 2024 AD (zero) riyals is reached, and these transactions are carried out in the context of normal business and according to the prevailing commercial conditions and without any preferential conditions.
11. Approval of the works and contracts that took place between the company and the Integrated Protection Corporation, which is for each of the Chairman of the Board of Directors Abdullah Muhammad Abdullah Al Shuraim) as the owner of the institution and the managing director (Saud Muhammad Abdullah Al Shuraim) being the brother of the owner of the institution is an indirect interest in it, which is a transactions (payments on behalf of the company), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (5836) riyals (city transactions) And transactions (sales of devices), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (595,651) riyals (city transactions) and the value of the amount paid during the year 2024 AD (601,487) riyals. Preference.
12. Approval of the works and contracts that took place between the company and the Hizitz company sufficient, which is for both the Chairman of the Board (Abdullah Muhammad Abdullah Al -Shuraim) and the Managing Director (Saud Muhammad Abdullah Al -Shuraim) is an indirect interest in which they are his brother to the owner of the company, which are transactions (payments on behalf (Sales of devices), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (15,668) riyals (city transactions) and the value of the amount paid during the year 2024 AD (18,657) riyals, and the final balance of 2024 AD (zero) riyals, and these transactions are done in the context of regular business and according to the prevailing commercial conditions and without any preferential conditions.
13. Approval of the works and contracts that took place between the company and the company’s technical destination company, which is for each of the Chairman of the Board (Abdullah Muhammad Abdullah Al Shuraim) and the Managing Director (Saud Muhammad Abdullah Al Shuraim) an indirect interest in it, which is a transactions (payments on behalf of the company), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (723,080) riyals (city) transactions and transactions (sales of devices) Note that the contract began in 2024 AD and the value of transactions during the year 2024 AD is an amount of (356,643) riyals (city transactions) and the value of the amount paid during the year 2024 AD (14,839) riyals and the final balance of 2024 AD (1,064,884) riyals, and these transactions are done in the context of regular business and according to the prevailing commercial conditions and without any preferential conditions.
14. Approval of the works and contracts that took place between the company and the first Arsan Contracting Company, which is for both the Chairman of the Board (Abdullah Muhammad Abdullah Al Shuraim) and the Managing Director (Saud Muhammad Abdullah Al Shuraim) is an indirect interest in it, which are transactions (payments on behalf Devices), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (1,942,334) riyals (city transactions) and transactions (purchases of installation and contracting services), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (97,520) riyals (credit transactions) and the value of the amount paid during the year 2024 AD is an amount (1,926,259) riyals, and the final balance for the year 2024 AD (zero) riyals, and these transactions are done in the context of regular business and according to the prevailing commercial conditions and without any preferential conditions.
15. Approval of the works and contracts that took place between the company and the administrative shareholder company, which is for each of the Chairman of the Board (Abdullah Muhammad Abdullah Al Shuraim) and Managing Director (Saud Muhammad Abdullah Al Shuraim) an indirect interest in which they are brothers to the owner of the company, which are transactions (payments on behalf Software) knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is an amount of (1,400,000) riyals (city transactions) and transactions (service purchases), knowing that the contract started in 2024 AD and the value of transactions during the year 2024 AD is (17,250) riyals (credit transactions) and the value of the amount paid during the year 2024 AD (1,454,750) riyals and the balance is reached The final for the year 2024 AD (zero) riyals, and these transactions are carried out in the context of normal business and according to the prevailing commercial conditions and without any preferential conditions.
16. Approval of the works and contracts that took place between the company and the managing director (Saud Muhammad Abdullah Al Shuraim) and which has a direct interest in it, is (cash payments) and these transactions began in 2023 AD and the value of transactions during the year 2024 AD is (4,227,727) riyals (city transactions) and the final balance of 2024 AD is (1,132,120) The prevailing trade conditions and without any preferential conditions
17. Approval of the amendment of the company’s governance regulation.
18. Approval of amending the policy of competition controls and standards.
19. Approval of amending the review of the review committee.
20. Approval of amending the regulations for the nominations and bonuses committee.
21. Approval of amending the Board of Directors ’work regulations.
22. Approval of amending the policy, standards, and membership procedures in the board of directors.
23. Approval of amending the regulations for the policy and standards of the rewards of the members of the board of directors, the committees emanating from it and the executive management.
24. Approval of amending a policy that opposes interests and competition.