National Environmental Recycling Co. Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving Increase ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | National Environmental Recycling Company "Tadweeer" Board of Directors has the pleasure to announce the results of the Extraordinary General Assembly Meeting, (first meeting) which include the Increase of the company’s capital |
| City and Location of the Extraordinary General Assembly's Meeting | From the company headquarter in Riyadh City, through modern contemporary means |
| Date of the Extraordinary General Assembly's Meeting | 2025-11-02 Corresponding to 1447-05-11 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 65.63% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Eyad Abdulaziz Al-Nafea (Chairman)
2. Mr. Abdulmohsen Abdulaziz Al-Fares (Vice Chairman) 3. Mr. Nasser Muhammad Al-Dueb 4. Mr. Khalid Abdullah Al-Rumaih 5.Mr. Fawzi Abdullah Al-Suwaieh
Meanwhile, the Board Members mentioned below apologized for attending the meeting: 1.Dr. Nasser Abdulrahman Al-Rasheed |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | 1. Mr. Abdulmohsen Abdulaziz Al-Fares (Executive Committee Chairman)
2. Mr. Fawzi Abdullah Al-Suwaieh ( Audit Committee Chairman) 3. Mr. Khalid Abdullah Al-Rumaih (Nomination and Remuneration Committee Chairman) |
| 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 granting free shares to the company's shareholders according to the following:
a. Company Capital before the increase amounted to (116,160,000) one hundred and sixteen million and one hundred and sixty thousand Saudi riyals, and after the increase will be amounting to (232,320,00) Two hundred thirty-two million and three hundred twenty thousand Saudi riyals b. Percentage of increase in capital: 100% c. Number of shares before the increase (116,160,000) one hundred and sixteen million and one hundred and sixty thousand shares, and after the increase number (232,320,00) Two hundred thirty-two million and three hundred twenty thousand shares d. Method of covering the increase: By capitalizing an amount of (67,838,889) Saudi Riyals from the share premium balance, an amount of (47,743,261) Saudi Riyals from the retained earnings balance, and an amount of (577,850) from the statutory reserve balance. e. Increase rate per share: One (1) free share is granted to each shareholder who owns one (1) share f. Reasons for the increase: The reasons for the capital increase is strengthening the capital base of the Company In the event that the item is approved, the date of entitlement to bonus shares for the company's shareholders who own shares on the day of the Extraordinary General Assembly meeting and are registered in the company's shareholders' register at the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date In the event of fractional shares, they will be collected in one portfolio for all shareholders, sold at the market price, and then their value will be distributed to the shareholders entitled to the bonus, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder. g- Voting on Amending Article Seven (7) of the company's bylaws related to capital. h- Voting on Amending Article Eight (8) of the company's bylaws related to subscription to shares. |
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