Abdulmohsen Alhokair Group for Tourism and Development Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Decrease and Increase ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Abdul Mohsen Al-Hokair Group for tourist and development company is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly Meeting (First Meeting, and a second meeting will be held after one hour) which includes reducing and increasing the company's capital, which is scheduled to be held at 7:30 p.m. on Thursday , July 8, 2021, 28 Dhu al-qidah 1442. through modern technology means using a tadawulaty system, in order to ensure the safety of shareholders and to support the efforts and preventive and precautionary measures by the competent and relevant health authorities to deal with the new CORONA virus COVID19,and as an extension of the continuous efforts made by all government agencies in Saudi Arabia in taking the necessary preventive measures to prevent its spread |
| City and Location of the Extraordinary General Assembly's Meeting | The company's headquarters - Riyadh - via modern technology |
| URL for the Meeting Location | https://www.tadawulaty.com.sa |
| Date of the Extraordinary General Assembly's Meeting | 2021-07-08 Corresponding to 1442-11-28 |
| Time of the Extraordinary General Assembly's Meeting | 19:30 |
| Attendance Eligibility | ShareHolders Registered at the Depositary Center Registry at the End of the Trading Session Proceeding the General Assembly Meeting and as per the Laws and Regulations |
| Quorum for Convening the General Assembly's Meeting | As per Abdul Mohsen Al Hokair Group Bylaws, the Extraordinary general assembly meeting shall be valid only if one or more shareholders representing at least one half of the ordinary shares are in attendance. If the required quorum is not achieved, a second meeting shall be held one hour after the expiration of the designated period for convening the first meeting. The second meeting shall be valid only if one or more shareholders representing at least one quarter of the ordinary shares are in attendance represented therein in line with Article (35) of the Company’s Bylaws. |
| Meeting Agenda | 1- Vote on the recommendation of the Board of Directors of the company to reduce the company's capital according to the following:
- Company capital before reduction: 550 million (550,000,000) Saudi Riyals - Company capital after reduction: 343 million (343,000,000) Saudi riyals. Number of shares before reduction: 55 million (55,000,000) shares. - Number of shares after reduction: thirty-four and three hundred thousand million (34,300,000) shares. - Reduction percentage:37.6% of the company's capital. - Reason for capital reduction To write off the accumulated losses amounting of two hundred and seven million (207,000,000) Saudi Riyals - Capital Reduction Method: By canceling 20,700,000 shares of the Company, will be reduced (1) share per (2.6970) shares. - Reduction date: End of the second trading day following the extraordinary General Assembly in which capital reduction is decided. - Impact of capital reduction on the company's obligations: there is no impact of the reduction of the company's capital on its financial obligations. - Amendment of Article (7) of the Company's Capital Statute (attached). - Amendment of Article (8) of the Company's Stock Subscription Statute (attached). 2- Vote on the recommendation of the Board of Directors of the company to increase the company's capital by offering priority rights according to the following: - Capital before increase: 343 million (343,000,000) Saudi riyals. - Increase the company's capital by offering priority rights shares worth three hundred and seven million (307,000,000) Saudi Riyals. - Capital after increase: six hundred and fifty million (650,000,000) Saudi riyals. - Number of shares before the increase: thirty-four million and three hundred thousand (34,300,000) shares. Number of shares after increase: Sixty-five million (65,000,000) shares. - Reason for capital increase: raising the company's solvency and reducing borrowing rates and costs incurred from it. - How to increase capital: Offering and listing priority rights shares with 30,700,000 shares. - Eligibility Date: If the item is approved, the right to shareholders who own the shares will be on the day of the extraordinary General Assembly, which is listed in the company's shareholders' register with the Securities Deposit Center Company (Deposit Center) at the end of the second trading day following the date of the extraordinary General Assembly.. - Amendment of Article (7) of the Company's Capital Statute (attached) - Amendment of Article (8) of the Company's Stock Subscription Statute (attached). • The vote on this item is linked to the approval of the shareholders on the first item of the agenda of the extraordinary General Assembly meeting, which includes a reduction in the company's capital.. |
| Proxy Form |  |
| E-Vote | Valued shareholders can vote remotely on the assembly's agenda through the electronic voting service by visiting the website of my www.tadawulaty.com.sa trades. Registration and voting is available free of charge to all shareholders, where electronic voting begins on 5 July 25-11-1442 H at (10:00 a.m.) and ends at the end of the assembly time. |
| Eligibility for Attendance Registration and Voting | Eligibility for Attendance Registration and Voting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | Phone: 0114134444
by email: [email protected] |
| Additional Information | Only remote voting will be available. |
| Attached Documents |
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