Good morning, ladies and gentlemen. Welcome to the annual general meeting of shareholders of National Energy Services Reunited Corp. I'm Sherif Foda, Chairman of the Board and Chief Executive Officer of the company, and I will be presiding in this meeting. It is 8:00 A.M. on May 7th, 2026. In accordance with the notice of meeting, I call this meeting to order. First, I would like to welcome and introduce each of the company directors and executives who are present in person today. Antonio Campo Mejia, Lisa A. Pollina, Stefan Angeli, Leo Kaitayev, and Joseph Nawfal, as well as the company legal counsel, Bill Nelson and Judy Little. Stefan Angeli will act as secretary of the meeting. American Election Services, LLC, has been appointed to act as inspector of election, and Natalie Hershton is here in that capacity. The secretary has confirmed that notice of this meeting was duly given.
A copy of the notice of the meeting and affidavit of mailing will be incorporated into the minutes of this meeting, as well as the oath of the inspector of election. All shareholder of record at the close of business on March 10, 2026 are entitled to vote on the matter presented at the annual general meeting. Our first order of business at this meeting is to determine whether the share represented at the meeting, either in person or by proxy, are sufficient to constitute a quorum for the purpose of transacting business. Stefan, do you have a report?
On the record date for the annual general meeting, the company had 100,797,004 ordinary shares issued and outstanding. Based on the information from the inspector of election, we believe that the count of shares present immediately prior to the commencement of the meeting was 80,156,932 ordinary shares, or approximately 79.52% of all ordinary shares entitled to vote at this meeting.
Thank you. Because holders of a majority of shares entitled to vote are represented at this meeting, I declare this meeting to be duly convened for purpose of transacting such business as may properly come before it. Proposal and discussion. Proposal number one, election of directors. The next order of business is description of the matter to be voted on at today's meeting. The first proposal before the shareholder of the company is the election of five director to each serve a one-year term. The board recommends the election of the following person as director of the company. Myself, Sherif Foda, Antonio Campo, Yousuf Al-Nowais, Tony Chase, Liza Pollina. Proposal number two, advise a resolution on executive compensation.
Second proposal before the shareholders of the company asks shareholders to approve an advisory resolution on the fiscal year 2025 compensation of the named executive officer, all as described in our proxy statement. This proposal is advisory. Although non-binding, the vote will provide information to our compensation committee and our Board of Directors regarding investor sentiment about our executive compensation philosophy, policies, and practices, which our compensation committee and our Board of Directors will be able to consider when making future executive compensation decisions. The Board recommends a vote for the advisory resolution on executive compensation. The third proposal before the shareholders of the company asks shareholders to recommend, on an advisory basis, the frequency of future advisory vote on the compensation of the named executive officer. Shareholders may vote for a frequency of one year, two years, or three years, or may abstain.
Although non-binding, the vote will provide information to our Board of Directors regarding investor sentiment about providing feedback on our executive compensation philosophy, policies, and practices. The Board recommend a vote for the frequency of one year for future advisory vote on executive compensation. The fourth proposal before the shareholder of the company is to ratify the appointment of Grant Thornton Audit and Accounting Limited, Dubai branch, as the company independent registered public accounting firm for the fiscal year ending December 31st, 2026. The Board recommends the ratification of the appointment of Grant Thornton as the company independent registered public accounting firm. Voting. The polls are open. If you previously voted by proxy, Internet or telephone, you do not need to vote today unless you wish to change your vote.
If you are a record holder present at this meeting in person or by proxy and wish to change your vote, or if you have not yet voted, you may vote at this time by clicking on the voting button on the web portal and following the instruction there. If you are present this meeting in person, you may vote or change your vote by written ballot. Now that everyone has had the opportunity to vote, I hereby declare the polls closed. I call upon the inspector of election to count the votes and then report the preliminary result of the voting. The final results of the meeting will be reported in a Form 8-K that will be filed promptly after the date of this meeting. Result: Stefan, will you please report that the preliminary result of the voting received from the inspector of election?
The pre-preliminary results are as follows: Each of the nominees, all five, for election to the board of directors have been duly elected. The advisory resolution on executive compensation has passed. The advisory resolution on the frequency of future advisory votes on executive compensation has been approved, with shareholders recommending a frequency of one year. The appointment of Grant Thornton as the company's independent registered public accounting firm has been duly ratified.
Thank you for attending today's meeting, t he meeting is adjourned. Now, we would like to open things up for shareholder question and comments. We can begin with a few that we received in advance of today's meeting. We then will take shareholder question that are being entered today on the web portal. Please note, we will attempt to answer as many question as time allows, but only question that are germane to the meeting will be addressed. Any question that we do not get to will be addressed on our company website after the meeting concludes. Question and comments are welcome. Shareholders should limit their question and comments to item properly brought before the meeting. In order to give as many shareholders as possible the opportunity to ask question, we ask that you please limit yourself to one question per topic.
Can you do the approved?
No, I can't see the numbers. There are no questions thus far.
There being no further question, we will now close the meeting. Thank you for attending and your support.