Safat Industries Holding Company will hold its Annual General Meeting (AGM) on Tuesday, January 25, 2022, in order to discuss and approve the Board of Directors reports, the auditor’s report, the Sharia Supervisory Board’s report, for the financial year ended December 31, 2020. The AGM will also discuss and approve the financial statement, the violations report and any penalties issued by the regulatory authorities. In addition to discussing and approving the Board of Directors’ recommendation not to distribute dividends for the financial year ended December 31, 2020, the report on the transactions that took place or will take place with related parties, discuss the Board of Directors’ recommendation not to pay remunerations to the Board members’ and to absolve them from any legal matters related to FY2020.
The AGM will also discuss the appointment or reappointment of the Shariah Supervisory Board and the auditor for the financial year ending December 31, 2021, and authorizing the Board of Directors to determine their fees.