Announcement of the Results of the Ordinary General Assembly Meeting, Second Meeting
Based on the invitation sent by the Chairman of the Board of Directors to the company's shareholders to attend the Ordinary General Assembly, Second Meeting, to discuss the agenda items of the Ordinary General Assembly, the Ordinary General Assembly meeting was held at the company's headquarters in the city of Jeddah on Monday, 25/08/2025 at 11:00 AM, chaired by the Chairman of the Board of Directors, Dr. Fahd Farouk Hakim. The completion of the quorum necessary for the validity of the 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 (92) of the Companies Law. Miss Atheer Saleh 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 | Decision Result |
| Approved | ||||
| 1 |
Announcement of the unaudited financial results for the first quarter of 2025 AD - Total assets as of March 31, 2025 AD amounted to 517,268.72 SAR. - Capital as of March 31, 2025 AD amounted to 500,000.00 SAR. - Retained losses as of March 31, 2025 AD amounted to (162,808.94) SAR. - Reserves as of March 31, 2025 AD amounted to 9,375 SAR. - Total liabilities and shareholders' equity as of March 31, 2025 AD amounted to 517,268.72 SAR on March 31, 2025 AD. - Revenues during the period from January 1 to March 31, 2025 AD amounted to 47,000 SAR. - Expenses during the period from January 1 to March 31, 2025 AD amounted to 259,681.09 SAR. - Net income during the period from January 1 to March 31, 2025 AD amounted to a net loss of (212,681.09) SAR. |
500,000 | 100% | $\checkmark$ |
| 2 | Disclosure of the transfer of the financial liability of the benevolent loan (Qard Hasan) from Morse Holding Company to the liability of the Chairman of the Board of Directors, Fahd Farouk Hakim, following an agreement concluded between the parties. | 500,000 | 100% | $\checkmark$ |