Saudi Arabian Amiantit Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase by means of modern technology (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Arabian Amiantit Company is pleased to invite the honorable shareholders to attend the Extraordinary General Assembly Meeting (First meeting) which will be held virtually through means of modern technology scheduled at 6:30 PM on Thursday 21/10/1444 H corresponding to 11/05/2023G. |
| City and Location of the Extraordinary General Assembly's Meeting | The company's main headquarter - Dammam - through modern technology. |
| URL for the Meeting Location | http://www.tadawulaty.com.sa |
| Date of the Extraordinary General Assembly's Meeting | 2023-05-11 Corresponding to 1444-10-21 |
| Time of the Extraordinary General Assembly's Meeting | 18:30 |
| Attendance Eligibility | Each shareholder registered in the company's shareholders register at the Depository Center at the end of the trading session preceding the general assembly meeting has the right to attend the assembly meeting according to the rules and regulations. |
| Quorum for Convening the General Assembly's Meeting | The Extraordinary General Assembly meeting shall be valid if attended by shareholders representing at least half of the capital. If the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for convening the first meeting, and the second meeting will be valid if attended by shareholders representing at least a quarter of the capital. |
| Meeting Agenda | 1- Voting on the Board of Directors’ recommendation to increase the capital by offering priority rights according to the following:
- The company's capital before the increase is (99,000,000) Saudi riyals, divided into (9,900,000) ordinary shares.
- The company's capital after the increase is (445,500,000) Saudi riyals, divided into (44,550,000) ordinary shares.
- The total amount of the increase is (346,500,000) Saudi riyals.
- Percentage of Capital Increase: 350%.
- The reason for the capital increase: supporting working capital.
- Method of capital increase: offering and listing rights shares for a number of (34,650,000) ordinary shares.
- Eligibility Date: In the event that the company’s shareholders in the extraordinary general assembly meeting agree to increase the capital, the eligibility will be for the shareholders who own the shares at the end of trading on the day of the general assembly and are registered in the company’s shareholders register with the Securities Depository Center Company (“Edaa”) at the end of the second trading day following the date The Extraordinary General Assembly.
- Amendment of Article (7) of the company's bylaws relating to (The Capital). (attached).
- Amendment of Article (8) of the company's bylaws relating to (Subscribing to Shares). (attached).
2- Viewing and discussing the Board of Directors' report for the fiscal year ending on 31-12-2022G. 3- Voting on the auditor report on the Company’s accounts for the fiscal year ending on 31-12-2022G. 4- Viewing and discussing the financial statements for the fiscal year ending on 31-12-2022G. 5- Voting on appointing the auditor for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor/s shall examine, review and audit the (second and third) quarter and annual financial statements, of the fiscal year 2023G., and the first quarter of the fiscal year 2024G, and the determination of the auditor's remuneration. 6- Voting on releasing the members of the Board of Directors from their liabilities for the fiscal year ending on 31-12-2022G. 7- Voting on paying an amount of (SAR 1,000,000) as remuneration to the Board members for the fiscal year ending on 31-12-2022G. 8- Vote on amendment of the company's bylaws in line with the new Companies Law. (attached). 9- Vote on amendment of Introduction of the company's bylaws relating to (Company Data). (attached). 10- Vote on amendment of Article (1) of the company's bylaws relating to (Incorporation). (attached). 11- Vote on amendment of Article (2) of the company's bylaws relating to (Company Name). (attached). 12- Vote on amendment of Article (3) of the company's bylaws relating to (The objectives of the company). (attached). 13- Vote on amendment of Article (17) of the company's bylaws relating to (Expiry of Board Membership). (attached). 14- Vote on amendment of Article (20) of the company's bylaws relating to (Remuneration of Board Members). (attached). 15- Vote on amendment of Article (21) of the company's bylaws relating to (Powers of the Chairman, Managing Director, Chief Executive Officer, and Secretary). (attached). 16- Vote on amendment of Article (29) of the company's bylaws relating to (Record of attendance of Assemblies). (attached). 17- Vote on add of Article (13) of the company's bylaws relating to (The company buys its shares, sells them and mortgage them). (attached). 18- Vote on re-arranging and numbering the articles of the company’s bylaws to comply with the proposed amendments in the above items (From 8 to 17 due to the addition of a new article) if approved. (attached). |
| Proxy Form |  |
| E-Vote | Shareholders registered in TADAWULATY services can vote electronically on the assembly’s items starting at 1:00 am on Sunday 17/10/1444H corresponding to 07/05/2023G until the end of the time of the assembly. The following link: www.tadawulaty.com.sa. |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convening of the General Assembly’s Meeting. Eligibility for Voting on the Agenda Ends upon the Counting Committee Concludes Counting the Votes. |
| Method of Communication | The company is pleased to receive any inquiries from the shareholders related to the agenda and reply any question from the date of publishing this announcement. Moreover, the questions of the shareholders will be replied during the General Assembly meeting. Kindly contact us on the below: -
Investors Relationship Department.
Tel: 013-8471500 Extn. 1117
Email: [email protected] |
| Attached Documents | |
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