Saudi Automotive Services Co. (SASCO) invites its shareholders to attend the Ordinary general assembly meeting No. Thirty One (Second Meeting)
The Board of Directors of Saudi Automotive Services Company (SASCO) invites the shareholders who own (20) shares or more to attend Ordinary General Assembly Meeting # thirty one (Second Meeting) which will be held at 4:00 pm of Tuesday 29 April 2014 at SASCO Head office (Al-Ehsa Street Malaz – Riyadh) to consider the following agenda:
1. To approve the annual report of the Board of Directors for the year ended December 31, 2013.
2. To approve the auditor's report and financial statements for the year ended December 31, 2013.
3. To approve the recommendation of the Board of Directors to stop calculating the convention reserve as of the end of fiscal year 2013 and transfer its tally (13,073,430 SAR) to the statutory reserve,
4. To approve the Board of Directors recommendation to distributed cash dividends for the financial year 2013 with a lump sum of 33,750,000 Saudi Riyals equivalent to 7.5% of the share par value as (0.75) SR for each share taking into consideration that the profit distribution is eligible for shareholders registers in company’s record at the end of the general assembly day.
5. To approve the recommendation of the Board of Directors, regardless reward to the members of the Board of Directors of (200 thousand SAR) for each member for the fiscal year ended December 31, 2013.
6. Renew the license to the Chairman of the Board of Directors as being an owner of shares in a company engaged in similar activity to the company (Zaiti).
7. To approve discharge of the members of the Board of Directors for the fiscal year ended Dec.31, 2013.
8. To choose the auditor nominated by the audit committee to review the financial statements for the fiscal year 2014 and quarterly financial statements, including the first quarter of fiscal year 2015 and determine his fees.
Each shareholder wishes to attend the meeting, must attend at least one hour early before meeting time to finish the registration procedures along with his ID, and for those who cannot attend may appoint another shareholder of non-board members or employees of the company, All attorneys (should be certified either by chamber of commerce ,Notary or any Bank) and should be handed over to the company or sent by mail to company mailing address (Riyadh 11553 P.O. box. 51880) at least three days early before assembly date, attached a copy of share certificate or proof of ownership. Note that the quorum for the AGM (second meeting) will be valid regardless of the attendance.
For more information Tel. 2068855 Ex. 1112 Fax 2068833.
1. To approve the annual report of the Board of Directors for the year ended December 31, 2013.
2. To approve the auditor's report and financial statements for the year ended December 31, 2013.
3. To approve the recommendation of the Board of Directors to stop calculating the convention reserve as of the end of fiscal year 2013 and transfer its tally (13,073,430 SAR) to the statutory reserve,
4. To approve the Board of Directors recommendation to distributed cash dividends for the financial year 2013 with a lump sum of 33,750,000 Saudi Riyals equivalent to 7.5% of the share par value as (0.75) SR for each share taking into consideration that the profit distribution is eligible for shareholders registers in company’s record at the end of the general assembly day.
5. To approve the recommendation of the Board of Directors, regardless reward to the members of the Board of Directors of (200 thousand SAR) for each member for the fiscal year ended December 31, 2013.
6. Renew the license to the Chairman of the Board of Directors as being an owner of shares in a company engaged in similar activity to the company (Zaiti).
7. To approve discharge of the members of the Board of Directors for the fiscal year ended Dec.31, 2013.
8. To choose the auditor nominated by the audit committee to review the financial statements for the fiscal year 2014 and quarterly financial statements, including the first quarter of fiscal year 2015 and determine his fees.
Each shareholder wishes to attend the meeting, must attend at least one hour early before meeting time to finish the registration procedures along with his ID, and for those who cannot attend may appoint another shareholder of non-board members or employees of the company, All attorneys (should be certified either by chamber of commerce ,Notary or any Bank) and should be handed over to the company or sent by mail to company mailing address (Riyadh 11553 P.O. box. 51880) at least three days early before assembly date, attached a copy of share certificate or proof of ownership. Note that the quorum for the AGM (second meeting) will be valid regardless of the attendance.
For more information Tel. 2068855 Ex. 1112 Fax 2068833.
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