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Atlas Elevators General Trading and Contracting Co. Announces the Results of the Extraordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Atlas Elevators General Trading and Contracting Company is pleased to announce to its shareholders the results of the Extraordinary General Assembly Meeting (the second meeting), which was held at 19:30 pm on Sunday, 22 Shaban 1445 AH, corresponding to March 3, 2024 AD, as the quorum for the first meeting was not complete and a quorum was not reached. The second meeting is an hour after the time specified for the first meeting, with an attendance rate of (39.56%), at the company’s main headquarters located in Riyadh - Eastern Ring Road - Al-Quds District, through modern technological means - using Tadawulati services; The quorum has been reached for the validity of the holding of the (second meeting) according to the company’s bylaws and companies’ bylaws, which is the presence of a number of shareholders representing at least a quarter of the company’s shares that have voting rights. |
| City and Location of the General Assembly's Meeting | At the company’s main headquarters located in Riyadh - Eastern Ring Road - Al-Quds District, through modern technological means - using Tadawulati services. |
| Date of the General Assembly's Meeting | 2024-03-03 Corresponding to 1445-08-22 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 39.56% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1- Mr. Youssef Muhammad Ali Al-Qafari - Chairman of the Board of Directors 2- Mr. Awad Bard Jaed Al-Anazi - Vice Chairman of the Board of Directors. 3- Mr. Mohsen Ali Dali Al-Zayadi - Managing Director and CEO 4- Mr. Falah Saud Obaid Al-Subaie - Member of the Board of Directors He was absent from attendance 1. Mr. Abdul Rahman Muhammad Omar Al Omar - Member of the Board of Directors |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Mr. Turki Hadiban Muhammad Al-Harbi - Chairman of the Audit Committee. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the company’s purchase of a number of its shares, up to a maximum of (300,000) shares of its stock, and keeping them as treasury shares, as the Board of Directors believes that the share price in the market is less than its fair value. The purchase will be financed from the company’s own resources, and the Board of Directors is authorized to complete the purchase process within A maximum period of (12) months from the date of the extraordinary general assembly’s decision. The company will retain the purchased shares for a maximum period of (24) months from the date of the extraordinary general assembly’s approval. After the expiration of this period, the company will follow the procedures and controls stipulated in the relevant laws and regulations. |
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 17.7
Net Change 0.0 (0.0%)
Value Traded (Sar) 2,715
Volume Traded 153
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