Dar Alarkan Real Estate Development Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting using modern technology means
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Dar Al-Arkan Real Estate Development Company is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held at 19:30 on 28/6/2021 corresponding to 18/11/1442H, using modern technology means through the Tadawulaty system, in order to ensure the safety of shareholders and within the support of preventive and precautionary efforts and measures by the competent and relevant health authorities to address the emerging Coronavirus (COVID-19), and as an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia in Take the necessary preventive measures to prevent its spread. |
| City and Location of the General Assembly's Meeting | Head Office of the company, 12622 Makkah Road, Al Wizarat, Beside Riyadh Marriott Hotel, Riyadh, KSA through modern technology, Using Tadawulaty Platform only for electronic voting. |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2021-06-28 Corresponding to 1442-11-18 |
| Time of the General Assembly's Meeting | 19:30 |
| 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 annual general meeting shall be valid if shareholders representing at least one fourth of the capital are present. If the quorum required to hold this meeting is not available, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting shall be considered valid whatever the number of shares represented in it. |
| General Assembly Meeting Agenda | The Meeting Agenda Attached as follow:
1. Voting on the Board of Directors' report for the fiscal year ending on 31/12/2020 G. 2. Voting on the auditor/s report on the Company’s accounts for the fiscal year ending on 31/12/2020 G. 3. Voting on the financial statements for the fiscal year ending on 31/12/2020 G. 4. Voting on appointing the external 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, third quarters and annual financial statements, of the fiscal year 2021 G., and the first quarter of the fiscal year 2022 G., and the determination of the auditor's fees. 5. Voting on the business and contracts that will be concluded between the Company and the Saudi Housing Finance (SHL), in which the board member Mr. Youssef bin Abdullah Al-Shalash, has an indirect interest in it. These businesses and contracts are financing some customers of Dar Al-Arkan Company to purchase houses. During the year 2020, sales of 15.5 million saudi riyals were made. It was paid from SHL Company during the year and there is no outstanding or due balance in 2020. These transactions are continuous, to be renewed annually, and carried out in the context of regular business and in accordance with the prevailing commercial terms and without any preferential conditions. (Attached) 6. Voting on the business and contracts that will be concluded between the Company and Al-Khair Capital, in which each of the members of the Board of Directors: Youssef bin Abdullah Al-Shalash and Majid bin Abdul Rahman Al-Qasim, have an indirect interest in it. These businesses and contracts are to provide financial consultations to Dar Al-Arkan. During the year 2020, the entire amount due was 1.5 million saudi riyals, was paid to Al Khair Capital Dubai Limited, which included fees and charges during the year amounted 1.5 million saudi riyals. During 2020, there were no transactions with Al-Khair Capital Saudi Arabia, and there is no outstanding or due balance. These services are continuous, to be renewed annually, and carried out in the context of regular business and in accordance with the prevailing commercial terms and without any preferential conditions. (Attached) 7. Vote to provide clearance to the members of the Board of Directors for the fiscal year ended December 31, 2020. 8. Voting on amending the policy of Nomination and Remunerations Committee. (Attached) |
| Proxy Form |  |
| E-Vote | Horned shareholders can vote remotely on the items on the assembly’s agenda, through the electronic voting service by visiting the Tadawulaty website www.tadawulaty.com.sa
Note that the registration for the service and voting is freely available to all shareholders, starting at 10:00 AM on Saturday 16/11/1442H corresponding to 26 June 2021, until the end of assembly time. |
| 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 inquires, you can contact the company’s management through the following means of communication: phone number 00966112069888, Ext. 1641 or 1154, or via email [email protected] |
| Attached Documents | |
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