|1- Vote on the Board of Directors’ recommendation regarding increasing the company’s capital by granting free shares to the company’s shareholders according to the following: |
• The capital before the increase is (40,797,800) forty million seven hundred and ninety-seven thousand and eight hundred Saudi riyals, and after the increase the amount is (81,595,600) eighty-one million five hundred and ninety-five thousand and six hundred Saudi riyals.
• Percentage of capital increase: 100%
• The number of shares before the increase was (4,079,780) four million and seventy-nine thousand seven hundred and eighty shares, and after the increase the number was (8,159,560) eight million one hundred and fifty-nine thousand five hundred and sixty shares.
• Method of covering the increase: by capitalizing an amount of (40,797,800) forty million seven hundred and ninety-seven thousand and eight hundred Saudi riyals from the retained earnings account.
• Increase rate per share: One (1) free share is granted to every shareholder who owns (1) share
• Reasons for the increase: enhancing the strategic growth plan, future expansion needs and aspirations, and emphasizing its financial solvency and the strength of its financial position.
If the clause is approved, the eligibility date for the bonus shares will be for the company’s shareholders who own the shares on the day of the extraordinary general assembly and are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the entitlement date.
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 their value distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares owed to each shareholder.
• Amending Article (7) of the company’s bylaws related to capital. (attached)
• Amending Article (8) of the company’s bylaws related to subscription to shares. (attached)
2- Vote on amending Article (3) of the company’s bylaws, which relates to the company’s purposes. (attached)
3- Voting on adding an article to the company’s bylaws No. (12) related to (the company’s purchase, sale, and mortgage of its shares) (attached)
4- Vote on amending the company’s bylaws to comply with the new corporate system (attached)