Saudi Telecom Company (stc) invites its shareholders to attend the Extraordinary General Assembly meeting (First Meeting) by Means of Modern Technology.
| Element List | Explanation |
|---|---|
| Introduction | Saudi Telecom Company –stc- (the company) Board of Directors is honored to invite its shareholders to attend the Extraordinary General Assembly's meeting of stc, which will be conducted virtually via Tadawulaty Platform, for the safety of the shareholders of the company and to support the preventive and precautionary efforts and measures exerted by the competent and relevant health authorities to address the emerging Corona virus pandemic (COVID-19), and as an extension of continuous efforts exerted by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread. |
| City and Location of the General Assembly's Meeting | stc HQ, Riyadh (Building 41, Northern Gate No.3, Imam Saud Bin Abdul Aziz Road, Al Mursalat district. |
| URL for the Meeting Location | http://tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2021-04-26 Corresponding to 1442-09-14 |
| Time of the General Assembly's Meeting | 22:00 |
| Attendance Eligibility | Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations |
| Quorum for Convening the General Assembly's Meeting | The Extraordinary General Assembly Meeting shall be valid only if attended by Shareholders representing at least half (50%) of the share Capital, as per the Company’s Articles of Association, Article (32). |
| General Assembly Meeting Agenda | 1. Voting for the Board of Director's report for the fiscal year ending on 31/12/2020.
2. Voting for the report of stc auditor for the fiscal year ending on 31/12/2020. 3. Voting for stc consolidated financial statements for the year ending on 31/12/2020. 4. Voting for the amendment of Article No. (17) of stc Incorporation document relating to the company board of directors . 5. Voting for the election of members of the board of directors from among the candidates for the next term, which starts on (28/4/2021) and lasts for three years, ending on 27/4/2024. (Attached their resumes). 6. Voting for appointing the auditor for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the (second, third, and fourth) quarter and annual financial statements of the fiscal year 2021, and the first quarter of the fiscal year 2022, and the determination of the auditor's remuneration. 7. Voting on the Board of Directors recommendation for the additional one-time distributions for the year 2020, of SR (1) per share which represents 10% of the share’s par value with a total amount of SR 2,000 million, the eligibility for dividend will be to Shareholders who own the shares on the day of Company’s general assembly and registered in the company’s shareholders register at Securities Depository Center by the end of the second trading day following the day of general assembly, thus the total dividends distributed and proposed to be distributed for the year 2020 is SR (5) per share which represents 50% of the share’s par value with a total amount of SR 10,000 million, the distribution date will be announced later (attached). 8. Voting for the delegating the authority of the General Assembly to the Board of Directors with the license mentioned in Paragraph (1) of Article 71 of the Companies Bylaw for a period of one year from the date of approval of the General Assembly or until the end of the term of Delegated Board of Directors, whichever is earlier, in accordance with the conditions mentioned in the related regulations. 9. Voting for the business and contracts that have been signed between the Company and Masdr Data Solutions, "a subsidiary of the General Organization for Social Insurance (GOSI)". In which Mr. Ahmed bin Mohammed Al-Omran "a member of the Board of Directors" has an indirect interest within the ordinary course of business and did not grant any preferential benefits, with an amount of (215,000) Saudi riyals in 2020 (attached). 10. Voting for paying (4,425,000) Saudi riyals as remunerations for the board of directors members for the fiscal year ending on 31/12/2020. |
| Proxy Form | |
| E-Vote | All shareholders registered in Tadawulaty service will be able to vote electronically on the Extraordinary General Assembly’s agenda. Electronic voting will start Thursday at 10:00AM on 22/4/2021, corresponding to 10/09/1442 and will last until the end of the Extraordinary General assembly time. Please note that registration in Tadawulaty service and voting is free of charge for all Shareholders via:
http://tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | For more inquiries please contact the Shareholders affairs Section in the General Department of Investor Relations, building No.2, P.O. Box 87912 Riyadh 11652
Tel 0114521845 - 0114525050 FAX 0114529655 E-mail: IRU@stc.com.sa |
| Attached Documents |  |
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