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Thob Al-Aseel Company announces inviting its shareholders to attend the Extraordinary General Assembly Meeting (the first meeting) through modern technology.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Thob Al-Aseel Company is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly meeting of the company (the first meeting), which is scheduled to be held, God willing, at 8:00 pm on Tuesday on 02/12/1444 AH corresponding to 06/20/2023 AD, through various means Modern technology. |
| City and Location of the General Assembly's Meeting | Through modern technology at the company's headquarters in Riyadh |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2023-06-20 Corresponding to 1444-12-02 |
| Time of the General Assembly's Meeting | 20:00 |
| Attendance Eligibility | Each of the shareholders registered in the company's register of shareholders at the Depository Center by the end of the trading session preceding the General Assembly meeting has the right to attend the Assembly meeting in accordance with the rules and regulations. Shareholders have the right to discuss the topics on the agenda of the General Assembly and direct questions to the members of the board of directors and the auditor. |
| Quorum for Convening the General Assembly's Meeting | The meeting of the Extraordinary General Assembly shall not be valid unless it is attended by shareholders representing at least half of the capital. If this quorum is not available in the first meeting, an invitation is sent to a second meeting one hour after the end of the period for the first meeting, and the meeting is valid if attended by a number of shareholders representing a quarter capital at least. |
| General Assembly Meeting Agenda | 1. View and discuss the report of the Board of Directors for the fiscal year ending on 12/31/2022. 2. Vote on the auditor's report for the fiscal year ended 31/12/2022. 3. View and discussing the financial statements for the fiscal year ending on 12/31/2022. 4. Vote on the discharge of the members of the Governing Council for the financial year ending 31/12/2022. 5. voting on the appointment of an auditor of the company from among the candidates as recommended by the audit committee to examine, review and audit the financial statements for the second, third and annual quarters of fiscal year 2023 and the first quarter of fiscal year 2024 and determine his fees. 6. Vote on disbursement of SAR (1,310, 000) as a remuneration to Board members for the fiscal year ended. 31/12/2022 7. Vote on the authorization of the Board of Directors to distribute a progress dividend to shareholders in a semi-annual or quarterly manner for fiscal year 2023. 8. Voting on the business and contracts concluded between the company and the heirs of Abdullah Al-Jedaie, which is for a member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jedaie, a member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jedaie, and a member of the Board of Directors, Mr. Abdul Rahman bin Abdullah Al-Jedaie, and they have an indirect interest represented in contracts Renting a shop and warehouses for a year without preferential conditions, knowing that the value of transactions for the fiscal year ending on 12/31/2022 AD is (1,822,210) riyals. 9. Voting on the business and contracts concluded between Al-Jedaie Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the heirs of Abdullah Al-Jedaie, which is a member of the Board of Directors, Mr. Faisal bin Abdullah Al-Jedaie, a member of the Board of Directors, Mr. Muhammad bin Abdullah Al-Jedaie, and a member of the Board of Directors, Mr. Abdul Rahman bin Abd God Al-Judaie and they have an indirect interest represented by lease contracts for a warehouse in Jizan for a period of one year without preferential conditions, noting that the value of transactions for the fiscal year ending on 12/31/2022 AD is (60,000) riyals 10. Voting on the business and contracts that took place between Al-Jedaei Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the member of the board of directors, Mr. Muhammad bin Abdullah Al-Jadaei, who has a direct interest in the rental contracts of exhibitions in Medina for a year without preferential conditions, noting that the value of transactions for the fiscal year ending on 31/12/2022 is (300,000) riyals. 11. voting on the division of the company's shares according to the following: - The nominal value before the amendment is SAR 10 per share. - The nominal value after the amendment is SAR (1) per share. - The number of shares before the adjustment (40,000,000) shares. - The number of shares after adjustment (400,000,000) shares. - There is no change in the company's capital before and after the division of shares. Effective date: In the event that the clause is approved, the division decision will be effective for all the company’s shareholders who own shares on the day of the Extraordinary General Assembly and are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly. Ordinary shares in which it was decided to divide the shares, and the effect of the decision will be applied to the share price starting from the working day following the meeting, provided that the number of shares in shareholders’ portfolios will be applied at the end of trading on the second day following the date of the extraordinary general assembly in which it was decided to divide the shares. - Amending Article (7) of the company's bylaws related to capital (attached) - Amendment of Article (8) of the company's bylaws related to (subscription in shares). (attached) 12. To vote on amending the company's bylaws in line with the new companies' bylaws. (attached) 13. To vote on rearranging and numbering the articles of the company's articles of association, to comply with the proposed amendments, if approved. |
| 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) | Shareholders registered in tadawulaty services can vote remotely on the items of the assembly starting from 01: 00 am on Friday, 27/11/1444 H, corresponding to .16/06/2023 until the end of the meeting, note that registration and voting in tadawulaty services is available free of charge to all shareholders 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 | In case of any inquiries, we hope to contact the Shareholders Relations Department at the following address: Thobe Al-Aseel Company P.O BOX 11426 Riyadh 23236 Phone: 0114652000 Fax.0114653000 salhadif@alaseel.com |
| 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 4.07
Net Change -0.08 (-1.93%)
Value Traded (Sar) 1,987,111.85
Volume Traded 482,835
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