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Al Jouf Cement Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Decrease ( First Meeting )

JOUF CEMENT 3091 -0.70% 11.32 -0.08
Element List Explanation
Introduction The Board of Directors of Al-Jouf Cement Company is pleased to invite the honorable shareholders to participate and vote in the extraordinary general assembly meeting that includes the reduction of the company’s capital (the first meeting), which is scheduled to be held through modern technology, God willing, at 18:30 on Monday 02/02/1444 AH corresponding to August 29, 2022 AD.
City and Location of the Extraordinary General Assembly's Meeting The company's head office is in Riyadh.
URL for the Meeting Location https://www.tadawulaty.com.sa
Date of the Extraordinary General Assembly's Meeting 2022-08-29 Corresponding to 1444-02-02
Time of the Extraordinary General Assembly's Meeting 18:30
Attendance Eligibility Each of the shareholders registered in the company's shareholders register at a deposit center at the end of the trading session preceding the general assembly meeting has the right to attend the assembly meeting in accordance with the rules and regulations.
Quorum for Convening the General Assembly's Meeting The Extraordinary General Assembly meeting is valid if attended by shareholders representing half of the capital. If this quorum is not available in the first meeting, the second meeting will be held an hour after the end of the period specified for convening the first meeting, provided that the invitation to hold the first meeting includes an announcement about the possibility of holding this meeting . In all cases, the second meeting shall be valid if attended by a number of shareholders representing at least one quarter of the capital.
Meeting Agenda 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).

Proxy Form
E-Vote Shareholders registered in the Tadawulati services can vote electronically on the assembly’s items starting from 10 am on Thursday 27-01-1444 AH corresponding to 25-08-2022 AD until the end of the time of the assembly, and registration and voting in the Tadawulati services will be available and free for all shareholders using the following link : www.tadawulaty.com.sa
Eligibility for Attendance Registration and Voting The right to register attendance at the assembly meeting expires at the time of the assembly meeting, and the right to vote on the assembly’s items for the attendees ends when the counting committee finishes counting the votes.
Method of Communication If you have any questions, please contact the Shareholders Relations Department:

(tel. 011200388)

(Mobile number: 0500037742)

E-mail

[email protected]

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