Saudi Electricity Company invites its shareholders to attend the 25th Ordinary General Assembly (First Meeting) via modern technology (virtually)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Electricity Company is pleased to invite the shareholders to attend and vote on the 25th Ordinary General Assembly meeting (first meeting), scheduled at 07:30 PM , Tuesday, 19-10-1444 corresponding to 09-05-2023 , which will be held virtually via modern technology means. |
| City and Location of the General Assembly's Meeting | Through modern technology from the Company’s Headquarters in Riyadh (via Tadawulaty System platform) |
| URL for the Meeting Location | Saudi Electricity Company |
| Date of the General Assembly's Meeting | 2023-05-09 Corresponding to 1444-10-19 |
| Time of the General Assembly's Meeting | 19:30 |
| Attendance Eligibility | Each shareholder registered at the end of the trading session preceding the General Assembly meeting in the Company’s Shareholders Register maintained at the Depository Center is eligible to attend the General Assembly meeting and as per the rules and regulations.
Shareholders are entitled to discuss the matters listed on the agenda of the General Assembly and ask any questions. |
| Quorum for Convening the General Assembly's Meeting | The Ordinary General Assembly Meeting shall only be valid if attended by shareholders representing at least half of the capital. If the quorum required for holding this meeting is not present, an invitation shall be sent to a second meeting to be held within thirty (30) days from the date of the previous meeting, and such second meeting shall be valid irrespective of the number of shares represented therein. |
| General Assembly Meeting Agenda | 1. Reviewing and discussing Board of Directors Report for the fiscal year ended on 31-12-2022.
2. Reviewing and discussing the financial statements for the fiscal year ended on 31-12-2022. 3. Voting on the External Auditor’s report on the Company’s accounts for the fiscal year ended on 31-12-2022 After discussing it. 4. Voting on the Board’s recommendations to distribute dividends amounting to (SAR 2,916,615,671) to the shareholders for the fiscal year ended on 31-12-2022, in the amount of (70 halalas) per each share, representing (7 %) of the Share Par Value. The eligibility of dividends distribution will be for the shareholders holding shares by the end of the trading session on the day of the general assembly date, and who are registered in the Company's shareholders register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date. The dividends distribution date will be announced later. 5. Voting on discharging the liability of the Board members for the fiscal year ended on 31-12-2022. 6. Voting on paying an amount of (SAR 832,500) as a remuneration for members of the Board of Directors for the fiscal year ended on 31-12-2022. 7. Voting on the appointment of an external auditor from among the candidates recommended by the Audit Committee. The appointed auditor will be responsible for examining, reviewing and auditing the second, and third quarters and annual financial statements for the financial year 2023, as well as the first, second, and third quarters and annual financial statements for the years 2024 and 2025, along with the first quarter of the financial year 2026, in addition the auditor's remuneration will be determined. 8. Voting on the Board’s resolution to appoint Scott M.Pochazka (independent member) as Board member starting from the date of his appointment on 06-12-2022 to complete the Board term until the end of the current term on 20-01-2024, succeeding the former member Dr. David Crane (independent member). (CV attached) 9. Voting on delegating the Board of Directors with the authorisation powers of the Ordinary General Assembly stipulated in paragraph (1) of Article (27) of the Companies Law, for a period of one year starting from the date of the approval by the General Assembly or until the end of the delegated Board of Directors’ term, whichever is earlier, in accordance with Implementing Regulation of the Companies Law for Listed Joint Stock Companies. 10. Voting on the company's social responsibility policy. (attached) 11. Voting on financing and financial commitments guidelines. (attached) |
| Proxy Form |  |
| E-Vote | The shareholders registered in Tadawulaty services may vote remotely on the items of the General Assembly agenda, starting from 01:00 AM, Saturday 16-10-1444 corresponding to
06-05-2023 until the end of the General Assembly meeting. Registration in and voting via Tadawulaty will be available and free of charge for all shareholders via this link: www.tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | Eligibility to register for attendance of the General Assembly meeting ends at the time of convening the meeting. The eligibility to vote on the items of the General Assembly agenda for the attendees ends by the end of votes counting. |
| Method of Communication | Should you have any inquiries about the General Assembly, feel free to contact:
0118077202 , 0118077881 or email: [email protected] |
| Additional Information | Shareholders can direct questions and inquiries related to items of the General Assembly during the meeting via the broadcasting link that will be forwarded to the shareholders via Tadawulaty service, For the inquires to be accepted, the full name and ID of the shareholder must be given. |
| Attached Documents | |
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