Development Works Food Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Development Works Food Co. (a Saudi joint stock company) is pleased to invite the honorable shareholders to participate and vote in the Extraordinary General Assembly meeting (first meeting), which is scheduled to be held via modern technological means, God Almighty willing, at exactly (18:30) on Wednesday 22/05/1445 corresponding to 06/12/2023. |
| City and Location of the Extraordinary General Assembly's Meeting | The company's main headquarters - Riyadh, using modern technology |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the Extraordinary General Assembly's Meeting | 2023-12-06 Corresponding to 1445-05-22 |
| Time of the Extraordinary General Assembly's Meeting | 18:30 |
| 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. |
| Quorum for Convening the General Assembly's Meeting | The (extraordinary) general assembly meeting is valid if it is attended by shareholders representing at least half of the capital. If the quorum required to hold this meeting is not available, the second meeting is held one hour after the end of the period specified for the first meeting. The second meeting is valid if it is attended by shareholders representing At least a quarter of the capital. |
| Meeting Agenda | 1- Vote on the Board of Directors’ recommendation to raise the company’s capital by offering priority shares in accordance with the following:
- Total amount of capital increase: 216 million Saudi riyals - By increasing its capital, the company aims to support the company’s future plans and develop and expand its activities. - If the clause is approved, the eligibility will be for shareholders who own shares on the day of the extraordinary general assembly and are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of the extraordinary general assembly. - Amending Article No. (7) of the company’s bylaws relating to (capital). - Amending Article No. (8) of the company’s bylaws related to (subscription to shares). 2- Voting on the Board of Directors’ decision to appoint Mr. Hisham Abdul Rahman Al-Muqrin as an (executive) member of the Board of Directors, starting from the date of his appointment on 16/07/2023 AD to complete the Board’s session until the end of the current session on 29/10/2024 AD, succeeding the previous member (Mr. Ashry Saad Al-Ashry - Non-Executive). CV attached. 3- Voting on the Board of Directors’ decision to appoint Mr. Abdul Aziz Mohammed Ababtain as a member (Outside the Board) of the Audit Committee, starting from the date of his appointment on 05/12/2022 AD until the end of the current committee’s work period on 29/10/2024 AD, instead of The former committee member, Mr. Hassan Omar Bakhamis, is a member (Outside the Council), provided that the appointment is effective from the date of the recommendation decision issued on 05/12/2022 AD, and this appointment comes in accordance with the work regulations of the Audit Committee. CV attached 4- Voting on the Board of Directors’ decision to appoint Dr. Omar Mohammed Al-Manaie as a member (Outside the Board) of the Audit Committee, starting from the date of his appointment on 20/07/2023 AD until the end of the current committee’s term on 29/10/2024 AD, instead of a member. The former committee member, Mr. Anas Salih Al-Amoud, is a member (independent), provided that the appointment is effective from the date of the recommendation decision issued on 20/07/2023 AD, and this appointment comes in accordance with the work regulations of the Audit Committee. CV attached 5- Vote on amending the company’s bylaws in accordance with the new companies’ bylaws. attached |
| 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) | Note that shareholders registered in Tadawulaty services will be able to vote remotely on the assembly’s items starting from one o’clock in the morning on Saturday 18/05/1445 AH corresponding to 02/12/2023 AD until the end of the assembly’s meeting time. Registration and voting in Tadawulati services will be available and free of charge to 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 | In case of any inquiries, we hope to contact the Shareholders Relations Department.
Email: dwf.com.sa@board Mobile: 0554875792 |
| Additional Information | The prospectus is attached |
| Attached Documents | |
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