Sadr Logistics Co. Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving Increase ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Sadr Logistics Company announces the results of the Extraordinary General Assembly meeting, which included the approval of increasing the company’s capital through the Rights Issue to shareholders, which was held at its first meeting at 6:30 pm on Wednesday, December 01, 2021 corresponding to Rabi’ al-Thani 26, 1443. Where the quorum for the meeting completed 53.15464%.
The meeting was held via modern technology means (remotely), in order to ensure the safety of dealers in the financial market and within the continuation of support for preventive and precautionary efforts and measures to limit the spread of the new Corona virus (COVID-19). |
| City and Location of the Extraordinary General Assembly's Meeting | The company's main headquarters is in Riyadh, Al-Yasmeen District, Anas bin Malik Road. |
| Date of the Extraordinary General Assembly's Meeting | 2021-12-01 Corresponding to 1443-04-26 |
| Time of the Extraordinary General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | %53.15464 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the Chairman of the Board of Directors and all members of the Board of Directors, and they are:
1- Mohammed Abdullah Al-Samaani (Chairman of the Board of Directors) 2- Bandar Muhammad Al-Samaani (Vice Chairman - Managing Director) 3- Khaled Suleiman Al-Mudaifer (independent member) 4- Tariq Abdulaziz Al-Tuwaijri (independent member) 5- Khaled Abdel Aziz Al Bakri (independent member) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | The meeting was attended by the Chairman of the Audit Committee, Mr. Yazid bin Hussam Al-Hayyaf.
The meeting was also attended by the Chairman of the Remuneration and Nominations Committee, Eng. Khaled Suleiman Al-Mudaifer. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | The results of voting on the assembly’s agenda was the approval of all items on the agenda, as follows:-
1- Approval of the amendment of Article forty-seven of the company’s articles of association related to the distribution of profits.
2- Approval of the company’s board of directors’ recommendation to increase the company’s capital by Rights Issue to shareholders, according to the following:-
• Capital before the increase: (25,000,000) Saudi riyals, capital after the increase: (175,000,000) Saudi riyals.
• The total amount of the increase: (150,000,000) Saudi riyals.
• Percentage change in capital: 600%
• Number of shares before the increase: (2,500,000) ordinary shares, the number of shares after the increase: (17,500,000) ordinary shares.
• The percentage increase for each share: 6 right for each share.
• The reason for the capital increase: to enable the company to implement its strategic and operational plans and to support the expansion of logistics services.
• Capital increase method: offering and listing rights issue shares of (15,000,000) ordinary shares.
• The value of the offering for each share and its nominal value: 10 Saudi riyals.
Eligibility Date: Eligibility will be for the shareholders owning shares on the day of the extraordinary general assembly who are registered in the company's shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the extraordinary general assembly.
D- Approval of the amendment of Article 7 of the company's articles of association, which is related to the capital.
E- Approval of the amendment of Article 8 of the company's articles of association, which is related to subscription for shares. |
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