Etihad Atheeb Telecommunication Co. (GO) Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving the Increase of the company’s Capital ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Etihad Atheeb Telecommunication Co. (GO) is pleased to announce the results of the 16th Extraordinary General Assembly meeting, which includes increasing the company’s capital (First meeting), which was held at 07:00 pm on Tuesday 25/07/1445 AH corresponding to 06/02/2024 AD in Riyadh at the company’s headquarters through modern technology (Remotely). as the attendance rate was %59.08 of the Company’s total shares, and after completed the Quorum for Convening, the results of voting on the assembly’s agenda were as follows: |
| City and Location of the Extraordinary General Assembly's Meeting | The company's headquarters in Riyadh - using modern technology (remotely) |
| Date of the Extraordinary General Assembly's Meeting | 2024-02-06 Corresponding to 1445-07-25 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 59.08 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following members of the Board of Directors:
1- Dr. Eisa bin Yeslam Ba-Eisa (Chairman - Chairman of the Executive Committee). 2- Mr. Omar Nabil N Alkhudairi (Deputy Chairman). 3- Mr. Ayman bin Hilal Aljaber (Board Member - Chairman of the Audit Committee). 4- Eng. Suliman bin Ahmad Alzahrani (Board Member – Chairman of the Remuneration and Nomination Committee). 5- Mr. Maitham Abdulla Ashoor Hasan (Board Member). 6- Mr. Abdulla Mohammed Danesh (Board Member). 7- Mr. Sager Abdullatif Mohammad Nadershah (Board Member). 8- Mr. Ehsan Amanallah Makhdoum (Board Member). 9- Mr. Saad bin Omar Albaiz (Member and Secretary of the Board of Directors).
No one was absent. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | 1. Dr. Eisa bin Yeslam Ba-Eisa (Chairman - Chairman of the Executive Committee).
2. Mr. Ayman bin Hilal Aljaber (Board Member - Chairman of the Audit Committee). 3. Eng. Suliman bin Ahmad Alzahrani (Board Member – Chairman of the Remuneration and Nomination Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approved on the recommendation of the Board of Directors to increase the company’s capital by issuing priority rights shares at a value of 250,000,000 million Saudi riyals so that the capital after the increase becomes 339,999,000 million Saudi riyals:
- Reasons for increasing the capital: Develop and modernize its business systems and networks and pay some of its obligations. - The total amount of the increase is 250,000,000 Saudi riyals. - The company's capital before the increase was 89,999,000 Saudi riyals. - The company's capital after the increase is 339,999,000 Saudi riyals. - The number of shares before the increase: 8,999,900 shares. - The number of shares after the increase is 33,999,900 shares. - Capital increase rate: 277.78% of the company's capital. - Method of capital increase: (2.7778) shares will be issued for every (1) share. - Eligibility date: The eligibility will be for the shareholders who own shares at the end of trading on the day of the Extraordinary General Assembly Meeting on the Capital Increase and who are registered in the Company’s shareholder register with the Securities Depository Center (Edaa) at the end of the second day follows the date of the Extraordinary General Assembly Meeting. - Amendment of Article (7) of the company’s bylaws related to the capital. - Amendment of Article (8) of the company’s bylaws related to subscribing to shares. |
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