Saudi Advanced Industries Company (SAIC) announces the invitation of its valued shareholders to attend the Extraordinary General Assembly Meeting including Capital Increase (the first and second meeting an hour after the first) by means of modern technology
- Date : 2022-11-20
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of the Saudi Advanced Industries Company is pleased to invite its esteemed shareholders to participate and vote in the Extraordinary General Assembly meeting (the first and second meeting an hour after the first), which is scheduled to be held on Sunday 17 Jumada Al-Awwal 1444 AH corresponding to December 11, 2022 AD, at (06:30) pm. by means of modern technology. |
| City and Location of the Extraordinary General Assembly’s Meeting | At the company’s headquarters in Riyadh, using modern technology. |
| URL for the Meeting Location | https://www.tadawulaty.com.sa |
| Date of the Extraordinary General Assembly’s Meeting | 2022-12-11 Corresponding to 1444-05-17 |
| Time of the Extraordinary General Assembly’s Meeting | 18:30 |
| Attendance Eligibility | Shareholders registered in the Issuer Shareholders Register at the Depository Center at the end of the trading session preceding the meeting of the General Assembly, according to the rules and regulations. |
| Quorum for Convening the General Assembly’s Meeting | The meeting of the Extraordinary General Assembly shall not be valid unless attended by shareholders representing half of the capital. If this quorum is not available in the first meeting, the second meeting shall be held an hour after the end of the period specified for the first meeting. In all cases, the second meeting shall be valid if attended by a number of shareholders representing a quarter. capital at least. If the necessary quorum is not available in the second meeting, an invitation is sent to a third meeting to be held under the same conditions stipulated in Article (35) of the Company’s Articles of Association, and the third meeting will be valid regardless of the number of shares represented in it, after the approval of the competent authority. |
| Meeting Agenda | 1-To vote on the company’s purchase of a number of its shares, with a maximum of (2,500,000) of its shares, and to keep them as treasury shares, as the Board of Directors or whoever delegates it considers that the share price in the market is less than its fair value, and the purchase will be financed through its financial resources and credit facilities, and the authorization of the Board of Directors The management completes the purchase process within a maximum period of twelve months from the date of the decision of the extraordinary general assembly, and the company will keep the purchased shares for a maximum period of five years from the date of the approval of the extraordinary general assembly, and after the expiration of this period, the company will follow the procedures and controls stipulated in the relevant laws and regulations.
2- To vote on the recommendation of the Board of Directors regarding the increase of the company’s capital by granting bonus shares to the company’s shareholders according to the following: A- The company’s capital before the increase is (500,000,000) five hundred million Saudi riyals, and in the event that the extraordinary general assembly approves the increase to (600,000,000) six hundred million Saudi riyals, with an increase of (20%), the company’s capital will be increased through the capitalization of profits The remaining shares amounted to a total amount of (100,000,000) one hundred million Saudi riyals, by granting a free share for every five shares owned by the shareholders. The number of shares before the increase is (50,000,000) fifty million shares, and in the event of the approval of the Extraordinary General Assembly, the increase will become (60,000,000) sixty million shares. Where the company aims to increase the capital to strengthen the capital base of the company to promote future growth plans. B- In the event that the item is approved, the date of eligibility for the bonus shares will be for the company’s shareholders who own shares on the day of the extraordinary general assembly, 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 date of the extraordinary general assembly. . In the event that there are fractional shares, they will be collected in one portfolio for all shareholders, sold at the market price, and then its value will be distributed among the shareholders eligible for the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder. C- Amending Article 7 of the company’s bylaws, which is related to the capital. (attached) D- Amendment of Article 8 of the company’s bylaws related to subscription to shares. (attached)
3- To Vote on amending the first article of the company’s bylaws related to incorporation. (attached) 4- To vote on the amendment of Article Two of the company’s bylaws related to the company’s name (attached) |
| Proxy Form |  |
| E-Vote | The valued shareholders registered on the Tadawulaty services website can vote remotely on the items of the Extraordinary General Assembly meeting through the (electronic voting) service, noting that remote voting starts from one o’clock in the morning on Wednesday 05/13/1444 AH corresponding to 07/12 / 2022 AD, and until the end of the assembly time, we invite all shareholders of the company to participate and vote remotely by visiting the Tadawulaty website https://www.tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | The right to register to attend the assembly meeting ends at the time of the assembly meeting. Also, the right to vote on the articles of the assembly for those present ends when the sorting committee finishes sorting the votes. |
| Method of Communication | In case of any questions or inquiries, we hope to contact the numbers shown below:
Phone number: 0114789840 Fax number: 0114776193 Or at the e-mail: saiccom@saic.com.sa |
| Additional Information | There is no. |
| Attached Documents | |