| Element List | Explanation |
|---|---|
| Introduction | Quara Finance Company announces the results of the extraordinary General Assembly meeting (First Meeting), which was held at 19:00 on Tuesday 09/06/2026 G, corresponding to 23/12/1447 H, through modern technology means using Tadawulaty system. This followed the achievement of the legal quorum required for the validity of the Extraordinary General Assembly meeting. |
| City and Location of the General Assembly's Meeting | In Riyadh city at the company’s location, the meeting will be virtual only through Tadawulaty Platform. |
| Date of the General Assembly's Meeting | 2026-06-09 Corresponding to 1447-12-23 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 96.11562% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following members of the Board of Directors attended the Extraordinary General Assembly meeting: 1) Mr. Abdullah bin Abdulrahman AlShilash (Chairman) 2) Mr. Abdulkarim bin Abdulaziz AlDoaij (Vice Chairman) 3) Mr. Khalid bin Mohammed Fagih 4) Mr. Abdulrahman bin Abdulaziz AlMisned 5) Mr. Mohammed bin Musfer AlMalki 6) Mr. Tarek Sami Zeitoun 7) Mr. Anand Sudarshan Raheja |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following of committee chairpersons and members attended the Extraordinary General Assembly meeting: 1- Mr. Abdulkarim bin Abdulaziz AlDoaij (Member of the Audit Committee) 2- Mr. Mohammed bin Abdullah Al Othaim (Chairman of the Nominations and Remuneration Committee). 3- Mr. Ziad El Naeem Chaar (Chairman of the Executive Committee). 4- Mr. Anand Sudarshan Raheja (Chairman of the Risk Management and Credit Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | Voting Results on General Assembly Agenda Items 1. reviewed and discussed the Board of Directors' report for the financial year ended 31, December 2025. 2. Approved for the external auditor's report's for the financial year ended 31, December 2025.after discussion 3. reviewed and discussed the financial year ended 31, December 2025. 4. Approved for discharging the members of the Board of Directors from liability for the year ended 31, December 2025 5. Approved the amendment of the Audit Committee Charter. 6. Approved the amendment of the Nomination and Remuneration Committee Charter. 7. Approved The payment of remuneration to the members of the Board of directors in the amount of SAR (150,000) for the financial year ended 31 December 2025. 8. Approved The payment of remuneration to the members of the Committee in the amount of SAR (185,000) for the financial year ended 31 December 2025. 9. Approved The appointment of KPMG Al Fozan (KPMG) Partners as the company’s external auditor from among the candidates, and determining their fees as approved and endorsed by the General Assembly in the amount of (1,080,000) SAR, to examine, review, and audit the financial statements for the (Second / Third / Fourth / Annual) quarters of the fiscal year ending December 31, 2026 G, and the first quarter of the fiscal year ending December 31, 2027 G, 10. The approval for initiating the procedures for transferring the statutory reserve to retained earnings, in accordance with the Companies Law issued by Royal Decree No. (M/132) dated 01/12/1443 H corresponding to (30/06/2022 G) and its Implementing Regulation for Listed Joint Stock Companies, as well as the company’s amended Articles of Association approved by the Extraordinary General Assembly on October 16, 2024 G, which no longer stipulates the requirement to form a statutory reserve, and also based on the company’s audited financial statements for the fiscal year ended 2025 G, which show a statutory reserve balance of SAR 12,542,513 |
| Additional Information | Should you have any inquiries or questions, please contact the Governance Department using the following methods: • Phone: 8001188999 • Fax: 0118295198 • Mobile: 0596023690 • Email: Governance@QuaraFinance.com |
Quara Finance Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
AI Summary
- Shareholders approved the transfer of the company’s statutory reserve balance of SAR 12,542,513 to retained earnings, following updates to the Companies Law and company bylaws.
- Approved the financial statements, auditor’s report, and board report for the fiscal year ended December 31, 2025, while discharging board members from liability for the period.
- Appointed KPMG Al Fozan as the external auditor for the remainder of fiscal year 2026 and the first quarter of 2027 for a fee of SAR 1,080,000.
- Authorized 2025 remuneration payments of SAR 150,000 for the Board of Directors and SAR 185,000 for board committees.
