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The Arabian Drilling Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Arabian Drilling is pleased to announce the results of the Ordinary General Assembly meeting (the first meeting) which was held virtually on 17 Rabie El Akhar 1445 AH corresponding to 1st November 2023 at 6:30 pm remotely. |
| City and Location of the General Assembly's Meeting | The company's main headquarters in Al-Khobar,(remotely) |
| Date of the General Assembly's Meeting | 2023-11-01 Corresponding to 1445-04-17 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 77.74% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the meeting: 1- Khalid Mohammed Nouh (Chairman) 2- Tarek Rizk (Vice Chairman) 3- Waleed Al Mulhim 4- Samir Seth 5- Jesus Lamas 6- Khlood Abdulaziz Aldukheil 7- Adnan Ghabris 8- Michael Mannering 9-Vijay Kasibhatla |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following Committees’ Chairpersons attended the meeting: 1- Khalid Mohammed Nouh (Chairman of Executive Committee) 2- Khlood Aldukheil (Chairwoman of Audit Committee) 3- Adnan Ghabris (Chairman of Nominations and Remuneration Committee) 4-Michael Mannering (Chairman of Safety, Health, and Environment Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1-Approval of the Board of Directors' recommendation to distribute cash dividends of SAR (225,170,000) to shareholders for the first half of the year 2023, at the rate of SAR (2.53) per share and at a rate of (25.3%) of the nominal value of the share, provided that the eligibility shall be for shareholders who own shares at the end of trading on the day of the General Assembly and who are registered in the company's shareholders register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the maturity date. 2-Approval on authorizing the Board of Directors to distribute interim cash dividends to the shareholders on biannual or quarterly basis for the financial year 2023. |
| Additional Information | With reference to the Ordinary General Assembly approval to distribute cash dividends to the company's shareholders for the first half of 2023, Arabian Drilling is pleased to announce that cash dividends will be distributed to its shareholders starting on Monday, 29-04-1445, corresponding to 13th November 2023, by direct bank transfer to the accounts linked to the shareholders’ investment portfolios. We would like to inform foreign non-resident investors that dividend cash distributions to a withholding tax of 5% in accordance with the provisions of Article (68) of the income tax regulations and Article (63) of its implementation regulations. To ensure timely and precise distribution, the Company encourages its shareholders to update their personal bank details to ensure that the bank account numbers are correctly linked to their investment portfolio. For more information or inquiries, kindly contact the Investors Relation via email: IR@arabdrill.com |
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 89.15
Net Change 0.05 (+0.06%)
Value Traded (Sar) 2,983,507.65
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