Advance International Company for Communication and Information Technology Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase ( First Meeting )
| Element List | Explanation |
|---|---|
| City and Location of the Extraordinary General Assembly's Meeting | across from the recent technical means |
| URL for the Meeting Location | http://www.tadawulaty.com.sa |
| Date of the Extraordinary General Assembly's Meeting | 2022-08-18 Corresponding to 1444-01-20 |
| Time of the Extraordinary General Assembly's Meeting | 18:30 |
| 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 | The extraordinary general assembly meeting is valid if attended by shareholders representing at least half of the capital of the company, otherwise, if the quorum isn’t available to hold this meeting, the second meeting will be held after one hour of the expiration of the limited period to hold the first meeting and the second meeting shall be appropriate if the shareholders represented three quarters of company capital at least, attended. |
| Meeting Agenda | 1- Vote on the recommendation board of directors regarding the management of increasing the company’s capital by granting free shares accordance with the following:
a- Increasing the company’s capital from (SAR20,000,000) Twenty million to (SAR25,000,000) Twenty Five Million Saudi Riyals with a percentage increase in the capital (25%) and an increase in the number of shares from (2,000,000) two million shares to (2,500,000) two million five hundred thousand shares and this addition will be covered across from the capitalization of an amount of (SAR5,000,000) Five million Saudi Riyal from the account of the remained profits, however, (1) one free share will be granted to each shareholder owns (4) shares and the reasons of increase, is to support the financial position to the company and the needs of the future expansions and its expectations. In case of approval of the item, the date of the eligibility of the bonus shares to the shareholders of the company, the owners of shares, is the day of the holding ordinary general assembly, who are registered in the shareholders of the company with deposit center for securities (deposit center) at end of the second day of trading after the date of entitlement.
In case there are fractional shares, they shall be collected in one portfolio for all shareholders, and shall be sold by the price of the market, and their values shall be distributed to the eligible shareholders based to each share within a period not exceeding 30 days from the date of identification the shares due to all shareholders. b- Amendment Article (7) of the company’s articles of association related to the capital. (attachment) c- Amending Article (8) of the company's articles of association related to subscribing to shares. (attachment) |
| Proxy Form |  |
| E-Vote | the registered shareholders in tadawulaty services, can vote remotely on the assembly’s items starting from 10:00 am on Monday 17/01/1444H corresponding to 15/08/2022 till the end of the time of the assembly, and registration and voting in the tadawulaty services will be available and free of charge for all shareholders using the following link: www.tadawulaty.com.sa |
| 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 | If you have any inquiries, please contact us by e-mail: [email protected] or at the contact number:920021721 |
| Attached Documents | |
Comments