Saudi Advanced Industries Company (SAIC) announces that its shareholders are invited to attend the Ordinary General Assembly meeting (the first and second meeting an hour after the first) in attendance and through modern technology
- Date : 2022-05-09
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of Saudi Advanced Industries Company is pleased to invite the company’s shareholders to participate and vote in the Ordinary General Assembly meeting (the first and second meeting an hour after the first), which is scheduled to be held in attendance and through modern technology means, on Tuesday 01 /11/ 1443 AH corresponding to 31/05/2022 AD, at exactly (07:00) in the evening, with the application of the precautionary and preventive measures taken by the competent authorities. |
| City and Location of the General Assembly’s Meeting | – Riyadh, Double Tree by Hilton Hotel – Northern Ring Road – Al-Morouj Business Gate – Al-Morouj District – Exit 5.
– By means of modern technology. |
| URL for the Meeting Location | https://g.page/DoubleTreeRiyadhAlMuroj?share |
| Date of the General Assembly’s Meeting | 2022-05-31 Corresponding to 1443-11-01 |
| Time of the General Assembly’s Meeting | 19:00 |
| Attendance Eligibility | Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations |
| Quorum for Convening the General Assembly’s Meeting | The legal quorum for convening the Ordinary General Assembly is the attendance of shareholders representing at least (25%) of the company’s capital represented in it, If this quorum is not available at the first meeting, the second meeting will be held an hour after the expiry of the time limit for convening the first meeting and it is valid regardless of the number of shares represented therein. |
| General Assembly Meeting Agenda | 1. Vote on the report of the Board of Directors for the fiscal year ending on December 31, 2021.
2. Vote on the financial statements for the fiscal year ending on December 31, 2021. 3. Vote on the company’s auditor’s report for the fiscal year ending on December 31, 2021. 4. Vote to absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2021. 5. Vote for the appointment of the company’s auditor from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2022 AD and the first quarter of the fiscal year 2023, and determine his fees. 6. Vote on the Board of Directors’ recommendation to distribute cash dividends of (37.5) million riyals to shareholders for the fiscal period ending 31-12-2021 at 7.5% of the nominal value of the share at 0.75 riyals per share. This is for the number of 50 million shares, provided that the eligibility is for the shareholders who own the shares at the end of trading on the day of the general assembly and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, the dividend distribution date will be announced later. 7. Vote to dissolve the Board of Directors based on the request submitted by a shareholder who owns shares representing 5.09% of the company’s capital. 8. Vote to elect members of the Board of Directors from among the candidates for the next session, which begins from the date of the ordinary general assembly meeting on 31/05/2022 and its duration is three years, ending on 05/30/2025 in the event that item (seventh) is approved. (CVs of the candidates are attached). |
| Proxy Form |  |
| E-Vote | Honorable shareholders registered on the Tadawulaty electronic services website can vote remotely on the items of the ordinary general assembly meeting, through the (electronic voting) service, bearing in mind that remote voting starts at ten in the morning on Saturday 27/10/1443 AH corresponding to 28/05/ 2022 AD, and until the end of the time of the assembly, we invite all shareholders of the company to participate and vote remotely by visiting the website of my trading https://www.tadawulaty.com.sa
Note that registration for my trading and voting services is free for all shareholders |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | In case of any questions or inquiries, feel free to contact the numbers shown below:
Phone No. 0114789840 Fax No. 0114776193 Or Via the email: saiccom@saic.com.sa |
| Additional Information | The company also confirms to the attending shareholders that procedures for verifying the health status will be applied in the (Tawakulna) application before entering the meeting venue, and the obligation to wear a mask in closed places. |
| Attached Documents | |