corporate
- May 9, 2024
Minutes of the Ordinary General Assembly Meeting of the Shareholders of Eradat International Real Estate Company for the Financial Year 2023
The Ordinary General Assembly of Eradat International Real Estate Company was convened at 12:00 PM on Thursday, 09/05/2024, at the Company’s headquarters, in the presence of the following:
- Shareholders representing 131,629,267 shares out of the Company’s total capital of 131,630,000 shares, thereby achieving a quorum of 99.9994%.
- Dr. Sulaiman Tareq Al Abduljader – Chairman of the Board of Directors.
- Mr. Abdulaziz Nasser Jabr – Representative of Mr. Abdullatif Al Aiban from Al Qatami, Al Aiban & Partners (Grant Thornton) – External Auditor.
- Dr. Mohammad Abdulrahman Al Sharafa – Member of the Sharia Supervisory Board.
Dr. Sulaiman Tareq Al Abduljader, Chairman of the Board, opened the meeting by welcoming the shareholders and presented the agenda as follows:
First: Discussion and approval of the Board of Directors’ report for the financial year ended 31/12/2023.
Second: Discussion and approval of the external auditor’s report for the financial year ended 31/12/2023.
Third: Discussion and approval of the Sharia Supervisory Board’s report for the financial year ended 31/12/2023.
Fourth: Discussion and approval of the financial statements of the Company for the financial year ended 31/12/2023.
Fifth: Review of any violations and penalties recorded by regulatory authorities (financial or otherwise) for the financial year ended 31/12/2023. The Chairman of the Board confirmed that no penalties or violations were recorded against the Company during the year 2023.
Sixth: Discussion of the Board of Directors’ recommendation not to distribute dividends to shareholders for the financial year ended 31/12/2023.
Seventh: Discussion of the non-distribution of remuneration to the members of the Board of Directors for the financial year ended 31/12/2023.
Eighth: Review of related party transactions for the financial year ended 31/12/2023 and authorization of the Board of Directors to enter into related party transactions until the next General Assembly meeting for the financial year ending 31/12/2024.
Ninth: Discussion and approval of discharging the members of the Board of Directors from any liabilities regarding legal, financial, and administrative matters related to the management of the Company for the financial year ended 31/12/2023.
Tenth: Appointment or reappointment of the external auditor for the financial year ending 31/12/2024 and authorizing the Board of Directors to determine their fees.
The Ordinary General Assembly resolved to reappoint Mr. Abdullatif Al Aiban – License No. (94A) from Al Qatami, Al Aiban & Partners (Grant Thornton) as the Company’s auditor for the financial year ending 31/12/2024 and authorized the Board of Directors to determine the auditor’s fees.
Eleventh: Appointment or reappointment of the Sharia Supervisory Board for the financial year ending 31/12/2024 and authorizing the Board of Directors to determine their fees.
The Ordinary General Assembly resolved to reappoint the following esteemed scholars as members of the Sharia Supervisory Board for the financial year ending 31/12/2024 and authorized the Board of Directors to determine their fees:
- Dr. Hamad Yousif Al Mazrouei
- Dr. Abdulrahman Mohammad Al Baloul
- Dr. Mohammad Abdulrahman Al Sharafa
The meeting concluded at 12:15 PM.