Abdulmohsen Alhokair Group for Tourism and Development Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

ELEMENT LISTEXPLANATION
IntroductionThe Board of Directors of Abdul Mohsen alhokair group for tourism and development is pleased to announce the results of the Ordinary General Assembly meeting (first meeting) after completing the Quorum for Convening as per the company bylaws and the company’s law
City and Location of the General Assembly's MeetingThrough modern technology means from the Company’s

 

.office in Riyadh

Date of the General Assembly's Meeting2021-12-15 Corresponding to 1443-05-11
Time of the General Assembly's Meeting19:30
Percentage of Attending Shareholders%51.36
Names of the Board of Directors Members Present at the General Assembly's Meeting and Names of the AbsenteesThe following Board members have attended the meeting

 

 

1- Mr.Majed bin Abdul-Mohsen Al-Hokair (Chairman of the Council)

 

2- Mr. Amr bin Abdulaziz Al-Jalal (Vice Chairman of the Council)

 

3- Mr. Sami bin Abdul Mohsen alhokair ( Managing Director )

 

4- Mr. Raed Abu Zinaida

 

5- Mr. Iyad Al-Bunyan

 

6- Mr. Faisal Shaker

 

7-Mr. Bandar bin Khaled Al Hokair

 

The members of the board of directors, Mr. Khaled Aneeb and Mr. Ramzy Abu Khadra, was absent from attendance

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their BehalfThe following Chairmen of the Committees attended the meeting:

 

1- Mr. Sami bin Abdul Mohsen alhokair (Chairman of the Executive Committee)

2- Mr. Iyad Al-Bunyan (Chairman of the Nominations and Remuneration Committee)

3- Mr. Suliman Mohammed Alquhedan ( on behalf of the chairman of the audit committee)

Voting Results on the Items of the General Assembly's Meeting Agenda's1- approved on redirecting the use of the offering proceeds as mentioned in the results announcement on 8/8/2021 which was mentioned in the prospectus published on 20/6/2021

 

 

2- approved on the business and contracts that took place between the company and Abdul Mohsen Abdulaziz Al Hokair Holding Group, in which the members of the Board of Directors have an indirect interest, namely, Mr. Musaed Al Hokair, Mr. Majid Al Hokair, and Mr. Sami Al Hokair, which is a rental contract for the Holiday Hotel in Al Khobar Corniche, knowing that the transactions for the previous year It is (5,093,490) riyals, equivalent to 20% of the total revenues without preferential terms or benefits

 

3- approved on the business and contracts that took place between the company and Abdul Mohsen Abdulaziz Al Hokair Holding Group, in which the members of the Board of Directors have an indirect interest, namely, Mr. Musaed Al Hokair, Mr. Majid Al Hokair, and Mr. Sami Al Hokair, which is a rental contract for a building attached to the Holiday Inn Hotel Jeddah Gate (Jeddah). Note that the transactions for the previous year are (34,706) riyals, which is equivalent to 15% of the total revenue without preferential conditions or benefits

 

4- approved on the business and contracts that took place between the company and Tanami Arabia Ltd., in which the members of the board of directors have an indirect interest, namely, Mr. Musaed Al Hokair, Mr. Majid Al Hokair, and Mr. Sami Al Hokair, which is a rental contract for an administrative office and Diamond Card office (Dammam), noting that the transactions For the previous year, it is 726,000 riyals + 57,500 (Diamond office) without preferential conditions or benefits

 

5-approved on the business and contracts that took place between the company and Abdul Mohsen Abdulaziz Al Hokair Holding Group, in which the members of the Board of Directors have an indirect interest, namely, Mr. Musaed Al Hokair, Mr. Majid Al Hokair, and Mr. Sami Al Hokair, which is an agreement for maintenance, operation and cleaning services, noting that the transactions for the previous year are ( 2,615.089) riyals without conditions or preferential benefits

 

6-approved on the business and contracts that took place between the company and MENA Education and Human Resources Development Company (Abdul Mohsin Al Hokair Institute for Hotel Training), in which the members of the Board of Directors have an indirect interest. The transactions for the previous year are (1,071,187) riyals without preferential conditions or benefits

 

7- approved on the business and contracts that were made between the company and the Riyadh Company for Tourism, Entertainment, and Commercial Projects, in which the members of the Board of Directors have an indirect interest, namely, Mr. Musaed Al Hokair, Mr. Majid Al Hokair and Mr. Sami Al Hokair, which is a contract for renting games (video games) for the Al Hokair Land website. The transactions for the previous year are (20,945) riyals, which is equivalent to 60% of the total revenue without preferential conditions or benefits

 

8- approved on amending the investment agreement of Half Moon Hotel - Mina Holiday Resort - with Half Moon Resort Company (Related Party)

 

9- approved on amending the policy regulation for the remuneration of the Board of Directors, its committees, and the executive management

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