National Building and Marketing Co. Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving Increase ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the National Building and Marketing Company is pleased to announce the results of the Extraordinary General Assembly meeting that was held at exactly 19:00 on 16-05-1442 / 12-31-2020, where the meeting was held remotely, using modern technology, in accordance with the direction of the Capital Market Authority according to its decision Dated 21/07/1441 AH / 16/03/2020 AD to suspend the holding of general assemblies of companies listed in the financial market in presence until further notice, as the attendance rate by electronic voting reached 99.90% of the total shares of the company and the results of the voting came as follows: |
| City and Location of the Extraordinary General Assembly's Meeting | The meeting was held remotely using modern technology |
| Date of the Extraordinary General Assembly's Meeting | 2020-12-31 Corresponding to 1442-05-16 |
| Time of the Extraordinary General Assembly's Meeting | 19:00 |
| Percentage of Attending Shareholders | %99.90 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Attendees:
1- Mr. Fahd Thunayan Bin Fahd Al-Thunayan. 2- Dr. Obaid bin Saad bin Obaid Al-Subaie. 3- Mr. Mohammed bin Saleh Abdul Aziz Al-Awad. 4-Eng. Muhammad Iqbal Daboul.
And absent from the assembly: Mr. Abd Al-Rahman Al-Modaymegh. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | Dr. Obaid bin Saad Al-Subaie. Attended as a representative of the Audit Committee and a representative of the Nomination and Remuneration Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approval of the recommendation of the company’s board of directors to increase the company's capital to become as follows:
A-Capital before the increase: (60,000,000) sixty million Saudi riyals. B - The capital after the increase: (120,000,000) one hundred and twenty million Saudi riyals. C- The number of shares before the increase: (6,000,000) shares, six million shares. D- The number of shares after the increase: (12,000,000) shares. Twelve million shares. * The aim of raising the company's capital is to support and strengthen the capital base and future activities of the company, which will contribute to achieving growth rates and diversification in the company's investments in a good way during the coming years, God willing. C- The method of increasing the capital by granting free shares to shareholders from other reserves and retained earnings equivalent to (1) share for each issued share at 100% of the capital, and if the clause is approved, the date of entitlement of the bonus shares to the shareholders of the company will be the day of the meeting The extraordinary general assembly who are registered in the company's shareholders register at the Securities Depository Center Company (Depository Center) at the end of the second trading day following the maturity date. In the event of stock fractions, they will be collected in one portfolio for all shareholders, sold at the market price, and then their value will be distributed to the eligible shareholders, each according to his share, within a period not exceeding 30 days from the date of determining the due shares for each shareholder. H- Approval of the amendment of Article (7) of the company's articles of association related to (the capital). G- Amendment of Article 8 (8) of the Company's Articles of Association related to shares subscription. 2- Approving the amendment of the Nomination and Remuneration Committee work bylaw. 3- Approving the amendment of the policies, standards and procedures for membership in the Board of Directors. 4- Approval of the amendment of the Audit Committee's work regulations. 5- Approving the amendment of the remuneration policy for members of the Board of Directors and committees. 6- Approval of the works and contracts that will be completed during the year 2020 AD-2021 AD between the company and Ajeej Steel Co. in which Fahd Al-Thunayan has an indirect interest in it, which is (the acquisition of the entire shares of Ajeej Steel Co.) for the amount of 180 million riyals There are no preferential conditions |
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