Minutes of the Ordinary General Assembly Meeting, Third Meeting of Morse Holding Company, a "Closed Saudi Joint Stock Company," held on Tuesday, 08/04/1447 AH, corresponding to 30/09/2025 AD.
Based on the invitation sent by the Chairman of the Board of Directors to the company's shareholders to attend the Ordinary General Assembly, Third Meeting, to discuss the agenda items of the Ordinary General Assembly, the Third Ordinary General Assembly meeting was held via modern technology means on the "Iqrar" platform on Tuesday, 08/04/1447 AH, corresponding to 30/09/2025 AD, at 11:00 AM, chaired by the Chairman of the Board of Directors, Fahd Farouk Hakim. The completion of the quorum necessary for the validity of the assembly meeting was announced, as shareholders representing 500,000 shares attended, representing a percentage of (100%) of the total capital of the company amounting to (500,000) shares. Consequently, the holding of the assembly is valid in accordance with the provisions of Article (61) of the Companies Law. Miss Atheer Al-Qurashi was appointed as the secretary of the assembly. Then, the Chairman of the assembly requested the secretary of the assembly to read the agenda items. After that, the floor for discussion was opened, and the Chairman of the assembly requested the shareholders to vote on the agenda items, and the voting result was as follows:
| No. | Items | Number of Shares | Percentage | Decisions |
|---|---|---|---|---|
| Approved | ||||
| 1 |
Announcement of the unaudited financial results for the second quarter of 2025 AD - Total assets as of June 30, 2025 AD amounted to 346,626.57 SAR, compared to 517,268.72 SAR as of March 31, 2025 AD, with a decrease rate of 33%. - Capital as of both June 30 and March 31, 2025 AD amounted to 500,000.00 SAR, with no change. - Retained losses as of June 30, 2025 AD amounted to (170,425.91) SAR, compared to (162,808.94) SAR as of March 31, 2025 AD, with an increase rate of 4.7%. - Reserves in both periods amounted to 9,375 SAR, with no change. - Total liabilities and shareholders' equity as of June 30, 2025 AD amounted to 346,626.57 SAR, compared to 517,268.72 SAR as of March 31, 2025 AD, with a decrease rate of 33%. - Revenues during the period from April 1 to June 30, 2025 AD amounted to 40,000.00 SAR, compared to 47,000.00 SAR during the period from January 1 to March 31, 2025 AD, with a decrease rate of 14.9%. - Expenses during the period from April 1 to June 30, 2025 AD amounted to 47,616.97 SAR, compared to 259,681.09 SAR during the period from January 1 to March 31, 2025 AD, with a significant decrease rate of 81.7%. - Net income during the period from April 1 to June 30, 2025 AD was a net loss of (7,616.97) SAR, compared to a net loss of (212,681.09) SAR during the period from January 1 to March 31, 2025 AD, with a decrease rate of 96.4%. |
500,000 | 100% | |
| 2 | Discharging the members of the Board of Directors from liability for the financial period ending on 30/06/2025 AD | 20,000 | 100% |
The meeting concluded at 11:30 AM, as the Chairman of the Assembly expressed thanks to all attendees for their participation and attendance at this meeting.
Secretary of the Assembly
Atheer Saleh Al-Qurashi
Chairman of the Assembly
Dr. Fahd Farouk Hakim