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Saudi Company for Hardware announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting

SACO 4008 -2.94% 69.30 -2.10
Element List Explanation
Introduction SACO's Board of Directors is pleased to invite its shareholders to participate the meeting of the Ordinary General Assembly Meeting (the first meeting) which will be held virtually through the contemporary technology means on Thursday Corresponding to 29/04/2021 at 11:00 pm.

Please note that the voting on the agenda items of the Ordinary General Assembly will be solely electronically through the Tadawulaty. This is for safety of the shareholders and to supports the efforts and precautionary measures to prevent the spread of Coronavirus (COVID-19) issued by health ministry and in continuation of support government authorities efforts to enforce measures which prevent the spread of the pandemic in KSA.

City and Location of the General Assembly's Meeting Riyadh City – SACO head office - By Means of Modern Technology
URL for the Meeting Location https://www.tadawulaty.com.sa
Date of the General Assembly's Meeting 2021-04-29 Corresponding to 1442-09-17
Time of the General Assembly's Meeting 23:00
Attendance Eligibility As per the rules and regulations, each shareholder who is registered in the Company's shareholders book with Edaa at the end of the trading session prior to the Assembly meeting shall be entitled to attend the Assembly.
Quorum for Convening the General Assembly's Meeting The General assembly meeting is valid if it is attended by shareholders representing at least a quarter of the capital. If there is no quorum for this meeting, the second meeting will be held one hour after the expiry of the duration of the first meeting, and the second meeting shall be valid regardless of the number of shares represented in it.
General Assembly Meeting Agenda 1-To vote on the Board Report for the fiscal year ending 31st December 2020.

2-To vote on the Auditors Report for the fiscal year ending 31st December 2020.

3-To vote on the Financial Statements for the fiscal year ending 31st December 2020.

4-To vote on release Board of Directors members from liability for the fiscal year ending 31st December 2020.

5- To vote on the appointment of the External Auditor of the Company based on the recommendation of the Audit Committee to audit the Financial Statements of the quarter 2 & quarter 3 and quarter 4 of the fiscal year 2021and quarter 1 of 2022 and to determine their fees.

6 – To vote on to authorize the Board of Directors to distribute Interim dividends to shareholders (semi / quarterly ) during 2021.

7 -To vote on business and contracts which will be between the company and the heirs of Abdullah Taha Bakhsh owners of Abrar International Holdings Company (a major shareholder) ), represented by the board members Mr. Talal Bakhsh ( Non-Executive ) , and Mr. Hany Alshuwaier.( Non-Executive ), Since they have an indirect interest in a lease contract for a store in Jeddah (Al-Andalus Street), from the date 28-02-2009 G until 26-02-2025 G, with knowing that the amount of the transaction during the year 2021 will be (2,000,000) Saudi riyals, and there are no preferential terms in this deal (attached).

8. To vote on business and contracts which will be between the company and the heirs of Abdullah Taha Bakhsh owners of Abrar International Holdings Company (a major shareholder) , represented by the board members Mr. Talal Bakhsh ( Non-Executive ) , and Mr. Hany Alshuwaier.( Non-Executive ), Since they have an indirect interest in a lease contract for a store in Jeddah , ( Al Amir Moahmmed Bin Abdul Aziz Street)

Safwat Al Tahlia Center

, from the date 06-04-2017 to 31-03- 2030 , with knowing that the amount of the transaction during the year 2021 will be (1,985,000) Saudi riyals, and there are no preferential terms in this deal (attached).

9. To vote on business and contracts which will be between the company and the heirs of Abdullah Taha Bakhsh owners of Abrar International Holdings Company (a major shareholder) ), represented by the board members Mr. Talal Bakhsh ( Non-Executive ) , and Mr. Hany Alshuwaier.( Non-Executive ), Since they have an indirect interest in land investment contract from 01- 04 -2020 to 31-03-2042 with knowing that the amount of the deal during 2021 will be (2,250,000 ) Saudi Riyals , and there are no preferential terms in this deal (attached).

10. To vote on Distributing amount of SAR (1,800,000) Saudi Riyals as remuneration to the board members for the fiscal year ending 12-31-2020

Proxy Form
E-Vote The shareholders registered in Tadawulaty services may vote on the items of the General Assembly agenda online starting from 10:00 AM on Sunday 13-09-1442 H corresponding to 25-04-2021 G and ends at the closure of the General Assembly Meeting. Registration and voting shall be available free of charge in Tadawulaty services for all shareholders by using the following link:

www.tadawulaty.com.sa

Eligibility for Attendance Registration and Voting Eligibility for the attendance registration of the EGM ends upon convening the EGM. Eligibility for voting on the EGM agenda items for the shareholders who attended ends upon the Counting Committee concluding the voting count
Method of Communication If any inquiries to please contact the Investor Relations Department through one of the following means Tel: 0114993500 Email: investors@saco-ksa.com
Attached Documents      
General Assembly Meeting Agenda

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