Investor Relationship
In line with the Kingdom’s Vision 2030 AD, and our project to build a human being, we believe in the importance of preserving the Arab spirit and cultural values that distinguish us as a people, and at the same time we realize that development and progress are necessary to interact with the modern world and the future.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Al Khaleej Training and Education Company is pleased to announce the results of the Ordinary General Assembly meeting (first meeting), which was held at 6.30 pm on Wednesday 01/12/1446 AH corresponding to 28/05/2025 AD via modern technological means. This is after the quorum required for the validity of the assembly’s meeting has been achieved, as the percentage of attendees in person and by proxy via remote electronic voting reached (%52.28) of the company’s capital. |
| City and Location of the General Assembly’s Meeting | At the company’s main headquarters in the Olaya district of Riyadh, through modern technology and the Tadawulati system – My trading link: is: www.tadawulaty.com.sa |
| Date of the General Assembly’s Meeting | 2025-05-28 Corresponding to 1446-12-01 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | %52,28 |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | The meeting was attended by members of the Board of Directors:
1.Mr. Naif bin Saleh Abdul Aziz Al-Rajhi, Vice Chairman of the Board of Directors. 2.Eng. Alwaleed bin Abdulrazak Aldereyaan, member. 3.Eng. Mohammed bin Hamad Hassan Al Quraisha, member. 4.Dr. Abdullah bin Saghir Muhammad Al-Husseini, member. 5.Mr. Abdul Malik bin Abdul Rahman Al Sheikh, member. 6.Dr. Abdul Karim bin Hamad Abdul Karim Al Najidi, member. I apologize for not attending the meeting: – Mr. Abdul Aziz bin Rashid Abdul Rahman Al-Rashed, Chairman of the Board of Directors |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf | The meeting was attended by the following committee chairs:
1.Mr. Abdul Malik bin Abdul Rahman Al Sheikh – Chairman of the Nominations and Remuneration Committee 2.Dr. Abdullah bin Saghir Muhammad Al-Husseini – Chairman of the Audit Committee 3.Mr. Naif bin Saleh Abdul Aziz Al-Rajhi – Chairman of the Executive Committee |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1.Seen the company’s financial statements for the fiscal year ending 31/12/2024 AD, and discussed.
2.Approval of the company’s auditor’s report for the financial year ending on 31/12/2024 After discussing it 3.Seen the report of the company’s Board of Directors for the financial year ending on 31/12/2024 AD and discussed it. 4.Approval of the appointment of Baker Tilly MKM & Partners, chartered accountants, as an auditor for the company from among the candidates based on the recommendation of the Audit Committee, to examine, review, and audit the financial statements for the quarter (second, third) and annual of the fiscal year 2025 AD and the first quarter of the fiscal year 2026 AD With fees amounting to (1,485,000) one million four hundred and eighty-five thousand riyals. 5.Approval of discharge of the members of the company’s Board of Directors from their liability for the fiscal year ending on 12/31/2024 AD. 6.Approval of the disbursement of an amount of (1,500,000) one million five hundred thousand riyals as a reward to members of the company’s Board of Directors for the fiscal year ending on 31/12/2024 AD. 7. Approval of the delegating the authority of the Ordinary General Assembly to the Board of Directors, with the license stipulated in Paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the session of the delegated Board of Directors, whichever comes first, in accordance with the conditions stated in the Executive Regulations. The corporate system for listed joint stock companies. 8.Approval of the business and contracts concluded between Al Khaleej Training and Education Company and the Cooperative Insurance Company, in which the Board Member: Eng. Mohammed bin Hamad Hassan Al Quraisha – has an indirect interest (related parties), nature of the contract: Insurance contract (contracting with the Cooperative Insurance Company to provide medical insurance services to employees of Al Khaleej Training and Education Company and their families). Contract term: (1) year, value of transactions in 2024 AD: an amount of (29,192,292) Saudi riyals, and the contract does not contain any preferential conditions or benefits. 9.Approval of. the business and contracts concluded between Al Khaleej Training and Education Company and the owner of the Al-Ahsa Schools Complex, in which the Chairman of the Board of Directors, Mr. Abdulaziz bin Rashid Al-Rashed (a non-executive member), has an indirect interest (related parties). Nature of the transaction: An agreement to operate schools (Mr. Abdulaziz Al-Rashed – the owner of the school complex – contracted with Al Khaleej Training and Education Company to operate the Al-Ahsa Schools Complex in exchange for generating a profit margin from the operating costs). Contract duration: 20 years. Transaction value in 2024: SAR 650,074 (six hundred fifty thousand and seventy-four Saudi Riyals). The contract does not include any preferential terms or benefits. 10.Approval of the business and contracts concluded between Al Khaleej Training and Education Company and AlKhaleej Limited Company in which the Chairman of the Board of Directors, Mr. Abdulaziz bin Rashid Al Rashid (non-executive member), has an indirect interest (related parties), nature of transactions: building rental contract (Al Khaleej Training and Education Company rents a building with a total area of (4,000) four thousand square meters from AlKhaleej Limited Company). Contract terms: (1) year, value of transactions in 2024 AD: an amount of (900,000) nine hundred thousand riyals, and the contract does not contain any preferential conditions or benefits. 11.Approval of the business and contracts concluded between Al Khaleej Training and Education Company and each of: Mr. Abdulaziz bin Rashid Al Rashid (Non-Executive Member), Mr. Nayef bin Saleh Abdulaziz Al Rajhi (Non-Executive Member), and Engineer Al Waleed bin Abdul Razzaq Saleh Al Duraiyan (Non-Executive Member), with their direct interest therein (Related Parties), Nature of Transactions: Sales Contract (Al Khaleej Training and Education Company contracted to sell Taif Women’s Health Centers and Voge Women’s Beauty Center, owned by the company, to each of the members of the Board of Directors (Mr. Abdulaziz Al Rashid, Mr. Nayef Al Rajhi, Engineer Al Waleed Al Duraiyan), Value of Transactions in 2024 AD An amount of (7,200,000) seven million and two hundred thousand riyals, and there are no preferential conditions or benefits in the business. |
| Additional Information | In the event of any inquiries, we hope to contact the Shareholder Relations Department on phone number 0114623260 or via email: adel-amin@alkhaleej.com.sa |
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