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Saudi Company for Hardware announces to Invites its Shareholders to Attend the ( First Meeting ) Extraordinary General Assembly Meeting Via modern technology means.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of SACO is pleased to invite the honorable shareholders to Attend the Extraordinary General Assembly Meeting (the first meeting), which is scheduled to be held through modern technology, God willing, at exactly 06:30 pm on Thursday May 16, 2024, corresponding to 08-11-1445. |
| City and Location of the General Assembly's Meeting | The company's headquarters in Riyadh - through modern technology. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-05-16 Corresponding to 1445-11-08 |
| Time of the General Assembly’s Meeting | 18:30 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Shareholders who are registered in the issuers shareholders record at the Depository Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee. |
| Quorum for Convening the General Assembly's Meeting | The validity of the extraordinary general assembly meeting requires the presence of a number of shareholders representing at least half of the capital. If the quorum necessary to hold this meeting is not available, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting shall be valid if attended by a number of shareholders representing at least one quarter of the capital. |
| General Assembly Meeting Agenda | 1- Reviewing the Board of Directors’ report for the financial year ending 31/12/2023 AD and discussing it. 2- Review and discuss the Company’s financial statements for the fiscal year ending on 31/12/2023. 3- To discuss and vote on the Auditor’s Report for the fiscal year ending on 31/12/2023G. 4- Voting on amendments to the company's bylaws to align with the new company’s law and rearrange and renumber the articles of the bylaws to conform with the proposed amendments (attached). 5- Voting on the Transfer of the statutory reserve balance available in the financial statements 24,504,713 SAR for the year ended on 31 December 2023 amounted to SAR to the balance of retained earnings. 6- Voting on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second quarter, the third quarter, and the annual of the fiscal year 2024 AD, and the first quarter of the fiscal year 2025 AD and determine his fees. 7- Voting on the recommendation Board of Director to Non-distribution of Cash Dividends to Shareholders for the year of 2023. 8- Voting on authorizing the Board of Directors to distribute interim dividends semi-annually or quarterly for the fiscal year 2024. 9-Voting on paying an amount of SAR 1,800,000 as remuneration to the Board members for the fiscal year ending on 31/12/2023. 10-Voting on the discharge of the members of the Board of Directors for the fiscal year ended 31/12/2023. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | The shareholder has the right to discuss the topics on the agenda of the Extraordinary General Assembly and ask questions, and shareholders registered in Tadawulaty services can vote electronically remotely on the items of the General Assembly starting from 01:00 am on Sunday 04/11/1445H corresponding to 12/05/2024G until the end of the time of the General Assembly meeting. |
| Details of the electronic voting on the Assembly’s agenda | Registration and voting in Tadawulaty services is available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | If any inquiries to please contact the Investor Relations Department through one of the following means Tel: 0114993500 Email: investors@saco-ksa.com |
| Attached Documents | |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 36.1
Net Change 0.1 (+0.28%)
Value Traded (Sar) 5,119,396.45
Volume Traded 142,172
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