Aljouf Mineral Water Bottling Co. Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving Increase ( First Meeting )
|Introduction||The Board of Directors of Al-Jouf Mineral Water Company is pleased to announce the results of the Extraordinary General Assembly meeting (the first meeting), which was held at 19:00 on Tuesday 02/07/1444 AH corresponding to 24/01/2023 AD. by means of modern technology.|
|City and Location of the Extraordinary General Assembly's Meeting||The company's head office is located in Riyadh- Through Modern Technology.|
|Date of the Extraordinary General Assembly's Meeting||2023-01-24 Corresponding to 1444-07-02|
|Time of the Extraordinary General Assembly's Meeting||19:00|
|Percentage of Attending Shareholders||55.35 %|
|Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees||The meeting was attended by the following members of the Board of Directors: |
Mr. Ashry Saad Al-Ashry - Chairman of the Board of Directors
Dr. Fahad M Alhabdan - Vice-President of the Board
Mr. Musa Abdullah Al-Fawzan - Board Member
Mr. Mohamed Hamdan Alsuraiyea
Absent from attendance:
Mr. Hisham Abdel Rahman Moqrin - Board Member
|Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf||The meeting was attended by the following chairpersons and members: |
Dr. Fahad M Alhabdan - Member of the Audit Committee - Chairman of the Nominations and Remunerations Committee
Mr. Musa Abdullah Al-Fawzan - Member of the Nominations and Remunerations Committee
|Voting Results on the Items of the General Assembly's Meeting Agenda's||1- Approval of the Board of Directors’ recommendation to increase the company’s capital by granting bonus shares to the company’s shareholders according to the following: |
A - The total amount of the increase: 15,625,000 (Fifteen million, six hundred and twenty-five thousand Saudi riyals).
B- The capital before the increase is 31,250,000 (thirty-one million two hundred and fifty thousand Saudi riyals), and the capital after the increase becomes 46,875,000 (forty-six million eight hundred and seventy-five thousand Saudi riyals), i.e. an increase of 50%.
C- The number of shares before the capital increase: 3,125,000 shares, and the number of shares after the increase becomes 4,687,500 shares.
D- This recommendation aims to increase the capital to support and strengthen the company's future activities.
e- The rate of increase: (1) share for every (2) outstanding shares.
F- The increase will be made by capitalizing an amount of (15,625,000) riyals from the retained earnings.
G- Date of eligibility: If the item is approved, the eligibility date for the bonus shares will be for the company’s shareholders who own shares on the day of the Extraordinary General Assembly convening and 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 eligibility date.
H- In the event that there are fractional shares, the fractions will be collected in one portfolio and then sold in the market to all the shareholders, and its value will be distributed to the shareholders of the beneficiaries of the bonus, each according to his share within a period of 30 days from the date of completion of the allotment of the new shares.
i- Amending Article No. (7) of the company's bylaws related to capital.
J- Amending Article No. (8) of the company's bylaws related to subscription to shares.
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.