Company Profile

Company overview

The company operates under Commercial Registration No. (1010237601) issued in Riyadh on 16/08/1428 H (corresponding to 29/08/2007 G), and Industrial License No. (431102115491) dated 20/09/1428 H (corresponding to 10/02/2007 G) issued by The Ministry of Industry and Mineral Resources for the Saudi Summit Factory for the production of plastic granules, and an operating environmental license (first class) No.)/4365/1442H(, dated 06/26/1442H (corresponding to 08/02/2021G) issued by the National Center for Environmental Compliance, and an operating license No. (5751442319013812) issued by the Saudi Authority for Industrial Cities and Technology Zones (MODON). The objectives of the company, as company bylaw, include the following: Agriculture, forestry and fishing. Mining and quarrying. Electricity, gas, steam, air conditioning and air supply. Water supply and sanitation activities, waste management and treatment. Construction. Wholesale and retail trade, and repair of motor vehicles and motorcycles. Transportation and storage. Accommodation and food service activities. Information and Communication. Real estate activities. Scientific and technical activities. Administrative and support services activities. Education. Human health and social work activities. Other service activities. The activities of the company, as in its commercial register, are as follows: Wholesale of primary plastics, rubber and fiber industries. Retail sale of building materials scrap, including (scrap iron trade). Retail sale of electronic and household electrical appliances. Selling tools and plastic materials (including bags). The company''s actual activity in purchase of various plastic and rubber waste from several different sources, such as petrochemical companies and companies producing final plastic and rubber products, as well as municipal waste, and then recycled to produce plastic granules. The company also produces processed polyethylene wax using the latest technologies. The company markets and sells the company various products in several different countries in Asia, Europe and Africa. The company also purchases plastic materials and resells them in the local market. The company does not practice its activities except after obtaining the statutory licenses, if any, that are required by the prevailing and enforceable regulations in the Kingdom of Saudi Arabia. The company has obtained all the statutory licenses and all of those licenses are still valid.

Company History

Saudi Top Trading Company (the Company or the Issuer or Top Saudi) was established as an individual establishment owned by Mrs. Nouf Munif Manahi Al-Qahtani under Commercial Registration No. (1010237601) issued in Riyadh on 08/16/1428 H (corresponding to 29/08/2007G). with a capital of twenty-five thousand (25,000) Saudi riyals. On 10/18/1433 H (corresponding to 05/09/2012G), the individual establishment and its branch registered in the name of Saudi Top Factory to produce plastic granules were transferred with a capital of one hundred thousand (100,000) Saudi riyals, divided into one hundred (100) in-kind shares of equal value and paid in full. The value of each share is one thousand (1,000) Saudi riyals, as the net assets of the establishment and its branch were evaluated at one hundred thousand (100,000) Saudi riyals. On 03/12/1440H (corresponding to 04/08/2019 G), the company capital was increased to one million (1,000,000) Saudi riyals divided into one hundred (100) shares in kind and cash of equal value and paid in full, and the value of the share was modified from one thousand (1,000) Saudi riyals to ten thousand (10,000) Saudi riyals, and the increase of nine hundred thousand (900,000) riyals has been met by transferring the entire amount from the retained earnings account as on December 31, 2018G to the capital account. On 05/16/1443H (corresponding to 20/12/2021G) the company was converted from a limited liability company to a closed joint stock company and the company capital increased to forty million (40,000,000) Saudi riyals, divided into four million (4,000,000) shares, the value of each share is ten (10) Saudi riyals, and all of them are ordinary shares fully paid in value. The increase of thirty-nine million (39,000,000) Saudi riyals was fulfilled by providing Mr. Abdullah Muhammad Obaid Al-Ajmi a valued property at the fair market value according to the report of the licensed and approved valuer in the amount of nine million nine hundred and fifty-seven thousand eight hundred and thirty-nine (9,957,839) Saudi riyals as a share in kind, and transferring an amount of twenty-nine million and forty-two thousand one hundred and sixty-one (29,042,161) Saudi riyals from the retained earnings account as on December 31, 2020, and the company has been registered in the joint stock companies register under Ministerial Resolution No. (775) dated 16/05/ 1443 H (corresponding to December 20, 2021 G), and Ministerial Resolution No. (784) dated 19/05/1443 H (corresponding to December 23, 2021 G).

Company Bylaws

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Equity Profile

Investment limits

There are no investment limits on the company shares as per the amended Rules for Qualified Foreign Financial Institutions Investment in Listed Securities and Instructions for the Foreign Strategic Investors Ownership in Listed Companies based on Company bylaw and the issued Instructions by related regulators and supervisory authorities.