| Introduction |
Saudi Advanced Industries company (SAIC) Announces the Non convening of its Extraordinary General Assembly’s Meeting that included the Company’s capital Increase (First Meeting and the Second Meeting one hour after the first) due to the lack of quorum for both meetings, which had supposed to be held virtually through by online means platform on Sunday 17/05/1444H Corresponding to 11 /12/2022 as the first meeting got attendance of (18,58 %) and the second meeting got attendance of (18.71%) |
| Indicate the date of the non-convened assembly |
2022-12-11 Corresponding to 1444-05-17 |
| City and Location of the General Assembly’s Meeting |
The Company’s headquarter in Al- Riyadh through means of modern technology. |
| Time of the General Assembly’s Meeting |
18:30 |
| The reason behind non-convening the assembly |
Incomplete quorum for the meeting the quorum of the second meeting the Extraordinary General Assembly is not valid unless attended by shareholders representing at least a quarter of the company’s capital 25%. |
| Percentage of Attending Shareholders |
18,71 % |
| The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors on profits or on the work of the External Auditor (where applicable). |
There is know |
| The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors capital alterations |
There is know |
| Additional Information |
Saudi Advanced Industries Company (SAIC) will subsequently call for a third extraordinary general assembly meeting that includes the Company’s capital Increase, after setting its date and obtaining the approval of the competent authorities, noting that the third meeting will be held by the shareholders who attended |
