Results of the Ordinary General Assembly Meeting (First Meeting)

- Mr. Aamer Abdullah Alireza (Chairman)

- Eng. Rayyan Mohammed Nagadi (Vice Chairman)

- Eng . Saleh Ahmed Hefni (Board Member)

- Ms. Muneera Hejab AlDossary (Board Member)

- Mr. Talal Nasir AlDakhil (Board Member)

The following Board members apologized for attending the meeting:

- Mr. Nader Mohammed Saleh Ashoor (Board Member)

- Mr. Ahmed Mohammed AlRabiah (Board Member)

Mr. Talal Nasir AlDakhil (Chairman of the Nomination and Remuneration Committee)
Eng. Yasser Alaf (Audit Committee Member, on behalf of the Chairman of the Audit Committee)

2. The consolidated Financial Statements for the fiscal year ended 31 December 2023, were reviewed and discussed.

3. Approval on the External Auditors Report for the fiscal year ended 31 December 2023 after discussing it.

4. Approval to discharge the Board of Directors from their liabilities pertaining to the management of the Company for the fiscal year ended 31 December 2023.

5. Approval of the appointment of Ernst & Young, with fees amounting to (270,000) Saudi riyals, excluding value-added tax, as external auditor for the Company amongst the nominees and determine their fees based on recommendation of the Audit Committee to examine, review and audit the Company’s financial statements for the second and third quarters of 2024 and the annual financial statements of fiscal year 2024G and first quarter of fiscal year 2025G.

6. Approval to authorize the Board of Directors to distribute interim dividends to the shareholders for the financial year 2024.

7. Approval on the transactions and contracts between SISCO subsidiary Saudi Trade and Export Development Company (LogiPoint) with Xenel Industries Limited, which owns 14.69% shares in SISCO (Mr. Aamer Alireza had an indirect interest as a member of the Board of Directors of Xenel industries, and as Chairman of the Board of Directors of both SISCO and LogiPoint). The value of transaction for 2023 was SR 262,225 pertaining to cross-charge of expenses shared by the Group companies, and the transactions were conducted on general commercial terms executed without any preferential treatment.

8. Approval on the transactions and contracts between SISCO subsidiary Red Sea Gateway Terminal Co. (RSGT) and Karam Al Arabi Catering, an affiliate of Xenel Industries Limited, which owns 14.69% shares in SISCO (Mr. Aamer Alireza has an indirect interest as a member of the Board of Directors of Xenel industries, and as Chairman of the Board of Directors of RSGT and SISCO). The value of transaction for 2023 was SR 20,037,835 and it mainly pertained to provision of meals and management of employees’ housing camps for RSGT. These transactions were conducted on general commercial terms without any preferential treatment.

9. Approval on the transactions and contracts between SISCO associate company International Water Distribution Company (Tawzea) and Kindasa Water Service Company, a subsidiary of SISCO, where SISCO owns 65% shares in Kindasa (Eng. Saleh Hefni has a direct interest as a member of the Board of Directors of Tawzea and SISCO). The value of transaction for 2023 was SR 70,514,651 and it mainly pertained to purchase of water from Kindasa and cross charge of expenses. Those transactions are on general commercial terms executed without any preferential treatment.

10. Approval on disbursing an amount of SAR (3,735,000 ) as a remuneration for the members of the Board of Directors for the fiscal year which ended 31/12/2023G.

Phone number: 0126619500
Email: IR@sisco.com.sa