The General Assembly of “Emergency” approves the purchase of 250 thousand shares for the employee incentive program

The Board of Directors of Emergency Medical Care Company announced the results of the extraordinary general assembly meeting (first meeting) held last Thursday.

The company said in a statement on its website "Saudi Arabia trading"The results of the vote on the assembly’s agenda included:

– Approval to amend the remuneration policy for members of the Board of Directors, its committees, and senior executives.

– Approval to amend Article (21) of the company’s bylaws, related to the powers of the president, deputy, managing director, and secretary.

– Approval to establish a stock program allocated to employees and to authorize the Board of Directors to manage the program and determine its details and conditions and amend it in the future whenever needed, including the allocation price for each share. Offered to employees if it is for a fee.

– Approving the company’s purchase of up to 250 thousand shares of its stock for the purpose of allocating them to the company’s employees within the employee stock program. The purchase will be financed through the company’s basic resources, and authorizing the Board of Directors to complete the purchase process within a maximum period of 12 months from the date of the extraordinary general assembly’s decision, and specifying the terms of this program, including the allocation price for each share offered to employees if it is for a fee. The company will retain the purchased shares for a period of (5) years from the date of the extraordinary general assembly’s decision. As a maximum until it is allocated to eligible employees, and after the expiration of this period, the company follows the procedures and controls stipulated in the relevant laws and regulations.

– Approval of the business and contracts that will be conducted between the company and the Urgent Care Pharmacy Company, in which the member of the Board of Directors (Dr. Tariq Muhammad Suleiman Al-Hamdan, in his capacity as Vice Chairman of the Board of Directors) has a direct interest, which is the sale/purchase of medicines, medical supplies, devices, and mobile clinics without preferential conditions, for an expected annual amount of one million riyals for a calendar year, noting that the value of the transactions is For the previous year, it is zero riyals.

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