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Riyadh Cables Group Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Riyadh Cables Group Company is pleased to invite the shareholders to participate and vote in the ordinary general assembly meeting (First Meeting), which will be held on Sunday, 21/04/2024, corresponding to 12/10/1445 AH at 19:00 Riyadh time, through modern technology means. |
| City and Location of the General Assembly's Meeting | Riyadh, Through modern technology means from The Company's headquarters in 2nd Industrial City. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-04-21 Corresponding to 1445-10-12 |
| Time of the General Assembly’s Meeting | 19:00 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee. |
| Quorum for Convening the General Assembly's Meeting | The ordinary general assembly meeting will not be valid unless it is attended by shareholders representing at least half of the company’s shares that have voting rights. If this quorum is not present at the first meeting, the second meeting will be held one hour after the end of the period specified for the first meeting. and in all cases, the second meeting is valid, regardless of the number of shares with voting rights represented in it |
| General Assembly Meeting Agenda | 1- Reviewing and discussing Board of Directors' report for the fiscal year ending on December 31, 2023. 2- Voting on the financial statements for the fiscal year ending on December 31, 2023. 3- Reviewing and discussing the financial statements for the fiscal year ended on December 31, 2023. 4- Voting on the Board of Directors' recommendation to distribute dividends of SAR 224,576,250 to shareholders for the fiscal year ended on December 31, 2023, at a rate of SAR 1.50 per share, representing 15% of the nominal share value. The entitlement will be for shareholders who own shares and are registered in the company's shareholders' registry at the Securities Depository Center (EDAA) at the end of the second trading day following the meeting date, and the dividends will be distributed on Wednesday, 14/06/2023. 5- Voting on the transactions and contracts between the company and MASDAR, a building materials supplier, which represent an indirect interest to the honorable non-executive members of the Board of Directors, Engineer. Raed bin Ibrahim Al-Mudaihem and Mr. Ziyad bin Fuad Al-Saleh. These transactions are in the form of purchase orders without preferential terms or benefits, and the total value of the transactions for the year 2023 amounted to (1,230,180) Saudi riyals. 6- Voting on the transactions and contracts between the company and MASDAR, a building materials supplier, which represent an indirect interest to the honorable non-executive members of the Board of Directors, Engineer. Raed bin Ibrahim Al-Mudaihem and Mr. Ziyad bin Fuad Al-Saleh. These transactions are in the form of sales orders without preferential terms or benefits, and the total value of the transactions for the year 2023 amounted to (61,468,625) Saudi riyals. 7- Voting on the transactions and contracts between the company and THABAT Construction Limited, which represents an indirect interest to the honorable non-executive members of the Board of Directors, Engineer. Raed bin Ibrahim Al-Mudaihem and Mr. Ziyad bin Fuad Al-Saleh. These transactions are in the form of sales orders without preferential terms or benefits, and the total value of the transactions for the year 2023 amounted to (1,326,302) Saudi riyals. 8- Voting on the transactions and contracts between the company and MASDAR technical equipment supplier company, which have an indirect interest for non-executive board members Engineer. Raed bin Ibrahim Al-Mudaihem and Mr. Ziyad bin Fouad Al-Saleh, these transactions are in the form of purchase orders without preferential terms or benefits, and the total value of the transactions for the year 2023 amounted to (77,192) Saudi riyals. 9- Voting on the transactions and contracts between the company and AL-JADEER Logistics Services Company, which have an indirect interest for non-executive board members Engineer. Raed bin Ibrahim Al-Mudaihem and Mr. Ziyad bin Fouad Al-Saleh, these transactions are in the form of purchase orders without preferential terms or benefits, and the total value of the transactions for the year 2023 amounted to (10,085,413) Saudi riyals. 10- Voting on the transactions and contracts between the company and ETISALAT Solution Co., which have an indirect interest for board member Mr. Ziyad bin Fouad Al-Saleh, these transactions are in the form of purchase orders without preferential terms or benefits, and the total value of the transactions for the year 2023 amounted to (1,787,287) Saudi riyals. 11- Voting on the exoneration of the Chairman and members of the Board of Directors for the fiscal year ended on 31/12/2023. 12- Voting on the recommendation of the Board of Directors dated 12/03/2024 to allocate an amount of (2,400,000) Saudi riyals as rewards and compensation to the members of the Board of Directors for the period from 01/01/2023 to 31/12/2023. 13- Voting on authorizing the Board of Directors to distribute interim dividends to the shareholders for the fiscal year 2024. 14- Voting on the recommendation of the Board of Directors to authorize the Board of Directors with the authority of the General Assembly as stated in paragraph (1) of Article 27 of the Companies Law for a period of one year from the date of the approval of the General Assembly or until the end of the term of the authorized Board of Directors, whichever is earlier, in accordance with the conditions set forth in the executive regulations of the Companies Law for listed joint-stock companies in the financial market. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders have the right to discuss the matters included in the General Assembly Meeting Agenda and direct questions related to the General Assembly Meeting Agenda to the members of the Board of Directors in accordance with the rules and regulations, and in accordance with the Rules of Shareholders Meetings & Voting Procedures (attached), noting that voting on the Tadawulaty platform is available free of charge to all shareholders using the following link: http://tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Registered contributors of Tadawulaty services can remotely vote electronically on the agenda items of the assembly starting from 1:00 AM on Wednesday, 17th April 2024, corresponding to 8th of Shawwal 1445 AH, until the end of the meeting time. Registration and voting in Tadawulaty services will be available and free for all contributors using the following link: (www.tadawulaty.com.sa). |
| Method of Communication in Case of Any Enquiries | shareholders' inquiries and questions will be received by contacting the Investor Relations department of the company during official working hours through the following methods: Phone: 0112650850 ext. 336 Email: ir@riyadh-cables.com |
| Additional Information | N/A |
| 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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Company Performance
Key Parameters
Last Price 142.6
Net Change 1.6 (+1.13%)
Value Traded (Sar) 40,146,569.6
Volume Traded 279,703
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