Dar Alarkan Real Estate Development Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Dar Al-Arkan Real Estate Development Company is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held at 19:00 on Tuesday 20/6/2023 corresponding to 2/12/1444H, using modern technology means through the Tadawulaty system. |
| City and Location of the General Assembly's Meeting | Head Office of the company, 12622 Makkah Road, Al Wizarat, Beside Riyadh Marriott Hotel, Riyadh, KSA through modern technology, Using Tadawulaty Platform only for electronic voting. |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2023-06-20 Corresponding to 1444-12-02 |
| Time of the General Assembly's Meeting | 19:00 |
| Attendance Eligibility | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The shareholder has the right to discuss the items on the agenda and ask questions. |
| Quorum for Convening the General Assembly's Meeting | The annual general meeting shall be valid if shareholders representing at least one fourth of the capital are present. If the quorum required to hold this meeting is not available, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting shall be considered valid whatever the number of shares represented in it. |
| General Assembly Meeting Agenda | The Meeting Agenda as follow:
1. Review and discuss the Board of Directors' report for the fiscal year ending on 31/12/2022 G. 2. Voting on the auditor/s report on the Company’s accounts for the fiscal year ending on 31/12/2022 G after discussing the report. 3. Review and discuss on the financial statements for the fiscal year ending on 31/12/2022 G. 4. Voting on appointing the external auditor for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor/s shall examine, review and audit the second, third quarters and annual financial statements, of the fiscal year 2023 G., and the first quarter of the fiscal year 2024 G., and the determination of the auditor's fees. 5. Voting on the business and contracts that will be concluded between the Company and the SHL Finance Company, in which the board member Mr. Youssef bin Abdullah Al-Shalash, has a direct and indirect interest in it. These businesses and contracts are financing some customers of Dar Al-Arkan Company to purchase houses. During 2022, there were sales of SAR 3.8 million which were paid off by SHL during the year and no outstanding balance to be paid or settled with this related party. These transactions are continuous, to be renewed annually, and carried out in the context of regular business and in accordance with the prevailing commercial terms and without any preferential conditions. (attached) 6. Voting on the business and contracts that will be concluded between the Company and Al-Khair Capital, in which each of the members of the Board of Directors: Mr. Youssef bin Abdullah Al-Shalash and Mr. Majid bin Abdul Rahman Al-Qasim, have an indirect interest in it. These businesses and contracts are to provide financial consultations to Dar Al-Arkan. During 2022, there were no transactions made, and there is no outstanding or due balance. These services are continuous, to be renewed annually, and carried out in the context of regular business and in accordance with the prevailing commercial terms and without any preferential conditions. (attached) 7. Vote to provide clearance to the members of the Board of Directors for the fiscal year ended December 31, 2022. 8. Voting on paying an amount of one million and five hundred thousand Saudi Riyal as remuneration to the Board members for the fiscal year ending on 31/12/2022 G (attached) 9. Voting on delegating the Board of Directors to distribute interim dividends on a biannual / quarterly basis for the fiscal year 2023 G. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any) | Horned shareholders can vote remotely on the items on the assembly’s agenda, through the electronic voting service by visiting the Tadawulaty website www.tadawulaty.com.sa Note that the registration for the service and voting is freely available to all shareholders, starting at 1:00 AM on Saturday 28/11/1444H corresponding to 17/6/2023, until the end of assembly time. |
| Eligibility for Attendance Registration and Voting | Note that the eligibility for registering the attendance of the general assembly’s meeting ends upon the convenience of the general assembly’s meeting, and the right to vote on the assembly items for the attendees, ends when the Counting committee finishes counting the votes. |
| Method of Communication | For inquires, you can contact the company’s management through the following means of communication: phone number 00966112069888, ext. 1641 or 1144, or via email [email protected] |
| Attached Documents | |
Comments