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) by through modern technology
- Date : 2023-05-10
| 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 by through modern technology means, on Tuesday 15 /11/ 1444 AH corresponding to 04/06/2023 AD, at exactly (07:00) in the evening. |
| City and Location of the General Assembly’s Meeting | At the company’s headquarters in Riyadh – By means of modern technology. |
| URL for the Meeting Location | https://www.tadawulaty.com.sa |
| Date of the General Assembly’s Meeting | 2023-06-04 Corresponding to 1444-11-15 |
| 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 and Shareholders have the right to discuss the topics on the agenda of the assembly and direct their inquiries. |
| 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. Reviewing and discussing the report of the Board of Directors for the fiscal year ending on 12/31/2022.
2. Reviewing and discussing the financial statements for the fiscal year ending on 12/31/2022. 3. Vote on the report (auditor) of the company’s accounts for the fiscal year ending on 12/31/2022 AD. 4. Vote to absolve the members of the Board of Directors from liability for the fiscal year ending on 12/31/2022 AD. 5. Vote for the appointment of the auditor (auditor) of the company from among the candidates based on the recommendation of the Audit Committee. This is to examine, review and audit the financial statements for the (second, third and annual) quarters of the fiscal year 2023 AD and the first quarter of the fiscal year 2024 AD and determine his fees. 6. Vote on the recommendation of the Board of Directors to distribute cash dividends in the amount of (30) million riyals to shareholders for the financial period ending on 12/31/2022 AD (5%) of the nominal value of the share, at the rate of (0.50) riyals per share, for (60) ) million shares, provided that the eligibility is for the shareholders who own shares at the end of trading on the day of the General Assembly convening 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 maturity date. The date of dividend distribution will be announced later. 7. Vote on the decision of the Board of Directors to appoint Mr. Faisal Abdullah Al-Mashwah as an (independent) member of the Board of Directors, starting from the date of his appointment on 08/01/2023 AD to complete the session of the Board until the end date of the current session 05-30-2025 AD, to succeed the resigned member, Mr. Yazid Khaled Al-Shathri Member (non-executive). (CV attached) 8. Vote on the decision of the Board of Directors to appoint Eng. Ahmed Abdul Rahman Al-Rabeeah as an (independent) member of the Board of Directors, starting from the date of his appointment on 08/01/2023 AD to complete the session of the Board until the end date of the current session 05-30-2025 AD, to succeed the resigned member, Mr. Badr Khaled Al-Shathri Member (non-executive). (CV attached) |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any) | The honorable shareholders registered on the Tadawulaty services website can vote electronically (remotely) on the items of the Ordinary General Assembly meeting through the (electronic voting) service, noting that electronic voting starts from one o’clock in the morning on Wednesday 11/11/1444 AH corresponding to 31/ 05/2023 AD, and until the end of the assembly time, we invite all shareholders of the company to participate and vote electronically by visiting the Tadawulaty website https://www.tadawulaty.com.sa
Note that registration in Tadawulaty services and voting 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 Or Via the email: saiccom@saic.com.sa |
| Attached Documents | |