The United International Transportation Company (Budget Saudi) Announces the Results of the Extraordinary General Assembly Meeting which include the Increase of the company’s capital (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of The United International Transportation Company (Budget Saudi) is pleased to announce the results of the Extraordinary General Assembly which include the Increase of the company’s capital (Second Meeting), which was held on Monday 24-06-2024 at 07:30 pm via modern technology means. |
| City and Location of the Extraordinary General Assembly's Meeting | From the Company’s head office in Jeddah - Through modern technology means. |
| Date of the Extraordinary General Assembly's Meeting | 2024-06-24 Corresponding to 1445-12-18 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 44.42% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The Board Members who attended the meeting are:
1- Abdulwahab Abdulkarim Abdulrahman Albetari (Vice Chairman of the Board of Directors) 2- Ahmed Abdullatif Ahmed Albarrak 3- Osama Ahmed Suliman Banaja 4- Abdallah Abdulmalik Abdullah Alshaikh 5- Ali Hadi Hassan Almansour 6- Naif Abduljallel Ali Al saif 7- Yazeed Saleh Yahya Alyahya
The Board Members who did not attend the meeting are: 1- Ibrahim Saad Ibrahim AlMojel (Chairman of the Board of Directors) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | - |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the Board of Directors’ recommendation to increase the company’s capital by issuing new shares in the United International Transportation Company for the purpose of acquiring all shares of Al Jazeera Equipment Company Limited (AutoWorld), as follows:
- The company’s capital before the increase: (711,666,680) SAR equal (71,166,668) shares. - The company’s capital after the increase: (781,666,680) SAR equal (78,166,668) shares. - The total amount of the increase: 70,000,000 SAR (number of the new shares 7,000,000 Common shares, with a nominal value of 10 Saudi riyals). - Percentage of capital increase: 9.84% - The reason for the capital increase: The company seeks to increase its capital for the purpose of completely acquiring 100% of the capital of AutoWorld Company. - Effective date of capital: After the completion of the process of transferring ownership of the shares of AutoWorld company to Aljozoor Alrasekha Transportation Company Ltd, a subsidiary owned by the United International Transportation Company. - Authorizing the Board of Directors or any person authorized by the Board of Directors to issue any decision or take any action that may be necessary to implement any of the decisions related to the acquisition deal. - Amendment of article seven of the company's bylaws related to (the company’s Capital). |
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