1- Vote on the Board of Directors’ recommendation to reduce the company’s capital according to the following: - The company's capital before the reduction: (1,430,000,000) Saudi riyals. - The company's capital after reduction: (1,087,000,000) Saudi riyals. - Number of shares before the reduction: (143,000,000) shares. - Number of shares after the reduction: (108,700,000) shares. Reduction rate: 23.9860% of the company's capital. - Reason for capital reduction: To restructure the capital and amortize (23,9860%) of the accumulated losses as on December 31, 2021, at a value of (343,000,000) Saudi riyals. - Capital reduction method: Cancellation of (34,300,000) shares of the company's shares, 0.24 shares will be canceled for every 1 shares. - Effective date of the reduction: at the end of the second trading day following the date of the Extraordinary General Assembly in which it was decided to reduce the capital. - The effect of the capital reduction on the company's obligations: There is no effect of the capital reduction on the company's financial obligations. - Amending Article No. (7) of the Articles of Association related to (Capital) (attached). - Amending Article No. (8) of the Articles of Association related to (subscribing to shares) (attached). 2- Vote on the amendment of Article No. (46) of the Articles of Association related to (distribution of profits) (attached). 3- To vote on the Board of Directors’ decision to appoint Eng. Abdullah bin Ouda bin Suleiman Al-Anzi, (independent member) to the Board of Directors instead of the outgoing member, Eng. Mohammed bin Saeed Attia (non-executive), starting from the date of August 1, 2022 AD, to complete the Board’s term until Its expiry date is August 5, 2023 AD (attached). |
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