Company Profile

Company overview

The Company conducts its activities under Commercial Registration No 1010237601 issued in Riyadh on 16 August 1428H corresponding to 29 August 2007G and Industrial License No 431102115491 dated 20 September 1428H corresponding to 02 October 2007G issued by the Ministry of Industry and Mineral Resources for Qimmat Al Saudiya Plastic Granules Manufacturing Factory and an Environmental Operating License First Category No Kh M 4365 1442H dated 26 June 1442H corresponding to 08 February 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 purposes of the Company as stated in its Articles of Association include the following agriculture forestry and fishing mining and quarrying electricity gas steam and air conditioning supply water supply sewerage 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 service activities education human health and social work activities and other service activities The Company activities as stated in its Commercial Registration include wholesale of primary plastics rubber and industrial fibers retail sale of construction scrap including scrap iron retail sale of household electronic and electrical appliances and sale of plastic tools and materials including bags The Company actual operations consist of purchasing various plastic and rubber waste from multiple sources such as petrochemical companies manufacturers of finished plastic and rubber products and municipal waste and recycling them to produce plastic granules The Company also produces treated polyethylene wax using advanced technologies and markets and sells its various products in several countries across Asia Europe and Africa In addition the Company purchases plastic materials and resells them in the local market The Company does not carry out its activities except after obtaining the required regulatory licenses where applicable in accordance with the laws and regulations in force in the Kingdom of Saudi Arabia The Company has obtained all required licenses and all such licenses remain valid

Company History

Qimmat Al Saudiya Trading Company the Company the Issuer or Qimmat Al Saudiya was originally established as a sole proprietorship owned by Ms Nouf Muneef Manahi Al Qahtani under Commercial Registration No 1010237601 issued in Riyadh on 16 August 1428H corresponding to 29 August 2007G with a capital of SAR 25000 twenty five thousand Saudi Riyals On 18 October 1433H corresponding to 05 September 2012G the sole proprietorship and its branch registered under the name Qimmat Al Saudiya Plastic Granules Manufacturing Factory were converted into a limited liability company with a capital of SAR 100000 one hundred thousand Saudi Riyals divided into 100 one hundred in kind shares of equal value fully paid The nominal value of each share was SAR 1000 one thousand Saudi Riyals based on the valuation of the net assets of the establishment and its branch at SAR 100000 On 03 December 1440H corresponding to 04 August 2019G the Company capital was increased to SAR 1000000 one million Saudi Riyals divided into 100 one hundred in kind and cash shares of equal value fully paid The nominal value per share was amended from SAR 1000 to SAR 10000 ten thousand Saudi Riyals The capital increase amounting to SAR 900000 nine hundred thousand Saudi Riyals was settled through the transfer of the full amount from retained earnings as of 31 December 2018 to the share capital account On 16 May 1443H corresponding to 20 December 2021G the Company was converted from a limited liability company into a closed joint stock company and its capital was increased to SAR 40000000 forty million Saudi Riyals divided into 4000000 four million shares each with a nominal value of SAR 10 ten Saudi Riyals All shares are ordinary shares and fully paid The capital increase of SAR 39000000 thirty nine million Saudi Riyals was settled as follows Contribution in kind by Mr Abdullah Mohammed Obaid Al Ajmi in the form of a real estate asset valued at its fair market value based on a licensed and accredited valuer report amounting to SAR 9957839 nine million nine hundred fifty seven thousand eight hundred thirty nine Saudi Riyals Transfer of SAR 29042161 twenty nine million forty two thousand one hundred sixty one Saudi Riyals from retained earnings as of 31 December 2020 The Company was registered in the Joint Stock Companies Register pursuant to Ministerial Resolution No 775 dated 16 May 1443H corresponding to 20 December 2021G and Ministerial Resolution No 784 dated 19 May 1443H corresponding to 23 December 2021G

Company Bylaws

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Equity Profile

Investment limits

There are no restrictions on the Company shares in accordance with the Rules Governing the Investment of Qualified Foreign Financial Institutions in Listed Securities and the Instructions Regulating the Ownership of Strategic Foreign Investors in Listed Companies as provided in the Company Articles of Association and the instructions issued by the relevant supervisory and regulatory authorities to which the Company is subject