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Obeikan Glass Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase ( First Meeting ) via modern technology
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Obeikan Glass Company is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly Meeting No. 03 (The first meeting), which is scheduled to be held, God willing, at 6:30 PM on Thursday 09-05-1445 AH corresponding to 23-11-2023G, via modern technology means provided by Tadawulaty (www.tadawulaty.com.sa). |
| City and Location of the Extraordinary General Assembly's Meeting | Riyadh - Head Office - By Means of Modern Technology using Tadawulty platform.. |
| URL for the Meeting Location | https://www.tadawulaty.com.sa/ |
| Date of the Extraordinary General Assembly's Meeting | 2023-11-23 Corresponding to 1445-05-09 |
| Time of the Extraordinary General Assembly's Meeting | 18:30 |
| Attendance Eligibility | Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre at the end of the trading session preceding the General Assembly’s meeting as per Laws and Regulations and the shareholder has the right to discuss the assembly’s agenda topics and ask questions. |
| Quorum for Convening the General Assembly's Meeting | The quorum for holding the Extraordinary General Assembly shall be considered valid if attended by shareholders who represent at least 50% of company’s capital. |
| Meeting Agenda | 1- Voting on the Board of Directors’ recommendation to increase the company’s capital by an amount of (80,000,000) eighty Million Saudi Riyals, according to the following: - The company’s capital before the increase is (240,000,000) two hundred and forty Million Saudi Riyals, divided into (24,000,000) twenty-four Million common shares. - The company’s capital after the increase is (320,000,000) three hundred and twenty Million Saudi Riyals, divided into (32,000,000) thirty-two Million common shares. - The total amount of the increase is (80,000,000) Eighty Million Saudi Riyals. - The ratio of increase in the capital is 33.33%. - The reason for the capital increase: The company aims to raise the capital to strengthen the capital base to support the future activities of the company, which contributes to achieving good growth rates during the coming years, God willing, as a continuation of the company's policy. - The method of increasing the capital: by granting bonus shares by capitalizing (80,000,000) Eighty Million Saudi Riyals from the balance of retained earnings as of 31/12/2022G, by granting one free share for every three shares owned by the shareholders. - Eligibility date: If the company’s shareholders at the Extraordinary General Assembly agreed to increase the capital, the eligibility will be for all the company’s shareholders registered in the company’s records at the Securities Depository Center (Edaa Center) at the end of the second trading day following the Extraordinary General Assembly in which it was decided to increase the capital. - Details of how to deal with fractional shares: 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 entitled to each shareholder. - Amending Article Seven of the company’s bylaws related to capital. (Attached). - Amending Article Eight of the company’s bylaws related to subscription to shares. (Attached). 2- Voting on the Board of Directors membership policy and procedures for Obeikan Glass Company (Attached) |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any) | The shareholders registered in Tadawulaty services may vote on the items of the General Assembly agenda online starting from 01 AM on Sunday 05-05-1445 AH corresponding to 19-11-2023 G until the closure of the meeting. Registration and voting shall be available free of charge in Tadawulaty services for all shareholders by using the following link: www.tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the attendance of the General Assembly’s meeting ends upon the convenience of the General Assembly’s meeting. Eligibility for voting on the business of the meeting agenda ends upon the counting committee concludes counting the votes |
| Method of Communication | Phone: 014–5040356, Fax: 014-3931071, Or Email: info.glass@obeikan.com.sa |
| 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 30.0
Net Change -1.0 (-3.23%)
Value Traded (Sar) 1,141,779.15
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