The Saudi Public Transport Company (SAPTCO) invites its Shareholders to attend the Ordinary General Assembly Meeting (1th) remotely through the modern technology means
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Public Transport Company (SAPTCO) is pleased to invite its shareholders to attend the Ordinary General Assembly Meeting (First Meeting), which is scheduled to be held on Monday, May 22, 2023 (corresponding to Dhul-Qaidah 02, 1444), at (06:30) PM, through the modern technology means provided by Tadawulaty. |
| City and Location of the General Assembly's Meeting | Through the modern technology means from the Company’s head office in Riyadh (using Tadawulaty system). |
| URL for the Meeting Location | http://www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2023-05-22 Corresponding to 1444-11-02 |
| Time of the General Assembly's Meeting | 18:30 |
| Attendance Eligibility | The shareholders registered with the Securities Depository Center, at the end of trading session before the General Assembly meeting are eligible to attend, according to the applicable polices and regulations. Shareholders are entitled to discuss the matters listed on the agenda of the General Assembly and ask any questions. |
| Quorum for Convening the General Assembly's Meeting | The first Ordinary General Assembly meeting will be valid if attended by shareholders representing at least Quarter of the capital. If the quorum required for holding this meeting is not meet, the second meeting will be held after one hour of the first meeting time, and it will be valid regardless of the number of shares represented therein. |
| General Assembly Meeting Agenda | 1) Reviewing and discussing the Board of Directors' report for the fiscal year ended on December 31, 2022.
2) Voting on the Company auditor’s report for the fiscal year ended on December 31, 2022, after discussing it. 3) Reviewing and discussing the financial statements for the fiscal year ended on December 31, 2022. 4) Voting on the Board of Directors recommendation to do not distribute cash dividends for the fiscal year ended on December 31, 2022. 5) Voting on the discharge of Board of Directors members from liabilities for their management of the company during the financial year ended on December 31, 2022. 6) Voting on disbursement of (SAR 2,000,000) as remuneration to the Board members for the fiscal year ended on December 31, 2022. 7) Voting on appointing the company’s auditor among the nominees based on the Audit Committee's recommendation, to examine, review and audit the financial statements for the (second, third quarter, and annual financial statement of the fiscal year 2023, and the first quarter of the fiscal year 2024), and determination their fees. (attached) 8) Voting on the business and contracts between the company and the Digital Mobility Investment Solutions Company, in which the company owns 100% of its capital), by providing (99.2) million riyals as a financial sums to support their working capital, which was done within the usual business and without any preferential conditions (attached) of the following member: a) HE. Eng. Khalid bin Saleh Al-Mudaifer (Chairman of the Board of Directors), where he is the Chairman of the Board of Directors of Digital Mobility Solutions for Investment Company. b) Eng. Khalid bin Abdullah ALHOGAIL, Board Member (Executive), where he is a member of the Board of Directors of the Digital Mobility Investment Solutions Company. c) Mr. Abdullah bin Ibrahim Al-Saleh, Member of the Board of Directors (Non-Executive), where he is a member of the Board of Directors of Digital Mobility Investment Solutions Company. d) Mr. Ahmed bin Ayed Al-Johani, Chief Executive Officer of Specialized Transportation Solution (Senior Executives), where he is a member of the Board of Directors and CEO of the Digital Mobility Investment Solutions Company. 9) Voting on the business and contracts between the company and the Saudi Emirati Company (SEITCO), in which a member of the Board of Directors Eng. Khaled bin Abdullah ALHOGAIL (executive) has an indirect interest, as he is the Chairman of the Board of Directors of the Saudi Emirati Company (SEITCO), which SAPTCO owns (50%) of its capital. The businesses were carried out within the usual business and without any preferential conditions (attached). The services provided to (SEITCO) for the year 2022 AD according as the following: a) A Contract for renting accommodation and parking for SEITCO’s buses in Al-Hair Garage, starting from August 17, 2022, amounted to (4.3) million riyals. b) Selling (192) used buses and their spare parts amounted to (13.2) million riyals. c) Providing financial sums to support purchasing of the buses, and the working capital, amounted to (9.7) million riyals. 10) Voting on delegating the Board of Directors the authorization powers of the General Assembly stipulated in paragraph (1) of Article 27 of the Companies law, for a period of one year starting from approval of the General Assembly or until the end of the delegated Board of Directors’ term, whichever is earlier, in accordance with the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. |
| Proxy Form |  |
| E-Vote | Shareholders registered on the Tadawulaty Services will be able to vote remotely on the General Assembly’s meeting agenda through the (electronic voting) service, starting on Wednesday morning 01:00 AM), May 18, 2023 (corresponding to Shawwal 28, 1444), until the end of the General Assembly meeting. The registration and voting on the Tadawulaty is available free for all shareholders by using the link: http://www.tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | Eligibility for registering the attendance of the General Assembly’s meeting ends upon the convenience of the General Assembly’s meeting, eligibility for voting on the meeting’s agenda ends when the counting committee finished counting of the votes. |
| Method of Communication | Shareholders can participate in the deliberations of the Ordinary General Assembly meeting and communicate via the email [email protected] during the meeting.
We would like to inform you that there will be a live audio broadcast via the link available in the Tadawulaty system. In case of any inquiry, please contact the Shareholders Relations Department on the phone: 0112998111 Ext No. (1403 or 1432), during the company's official working hours from Sunday to Thursday from 07:30 Am until 03:30 Pm. |
| Attached Documents | |
Comments