Emaar The Economic City announces to invite its Shareholders to attend the Ordinary General Assembly Meeting (First Meeting) via modern technology.
|Introduction||The Board of Directors of Emaar the Economic City is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly Meeting (the first meeting) which will be held at 7:30 pm on Thursday 8/6/2023G, corresponding to 19/11/1444H through means of modern technology using Tadawulaty system.|
|City and Location of the General Assembly's Meeting||Through modern technology at EEC's headquarter in KAEC – Rabigh.|
|URL for the Meeting Location||https://www.tadawulaty.com.sa|
|Date of the General Assembly's Meeting||2023-06-08 Corresponding to 1444-11-19|
|Time of the General Assembly's Meeting||19:30|
|Attendance Eligibility||Each Shareholder registered in the Company's Shareholder register at the Securities Depository Center (Edaa) at the end of the trading session preceding the meeting of the General Assembly has the right to attend the meeting of the General Assembly, and according to the rules and regulations, shareholders have the right to discuss the topics on the agenda of the General Assembly and direct their inquiries.|
|Quorum for Convening the General Assembly's Meeting||The Ordinary General Meeting shall be valid only if attended by shareholders representing at least %50 of the Share Capital. If there is no quorum for this meeting, a second meeting shall be held one hour after the end of the duration of the first meeting, the second meeting shall be valid regardless of the number of shares represented in it.|
|General Assembly Meeting Agenda||1. Review and discuss the report of the Board of Directors for the fiscal year ended on December 31, 2022. |
2. Review and discuss the consolidated Financial Statements for the fiscal year ended on December 31, 2022.
3. Voting on the External Auditor Report for the fiscal year ended on December 31, 2022.
4. Voting on the appointment of the Company's External Auditor, according to the recommendation of EEC Audit Committee and the nomination of the Board of directors, to examine, review and audit the (second and third) quarter and annual financial statements of the fiscal year 2023, the (first, second, and third) quarter and annual financial statements of the fiscal year 2024, the (first, second, and third) quarter and annual financial statements of the fiscal year 2025 and the (first) quarter financial statements of the fiscal year 2026, along with determining their remuneration.
5. Voting on the payment of SAR (2,600,000) as remunerations for the board of directors’ members for the fiscal year ending on 31 December 2022.
6. Voting on the absolving the Board of Directors members from their liabilities pertaining to the management of the Company for the fiscal year ended on December 31, 2022.
7. Voting on the updated Board of Directors, Board Committees and Executive Management Remuneration Policy. (Attached)
8. Voting on the updated Audit Committee’s Charter. (Attached)
9. Voting on the transactions and contracts that was conducted between the Company and CEER National Automotive Company for the year 2022 which the Chairman of the Board Mr. Fahad Abduljalil Al-Saif and the (former) Board member Mr. Majed Al-Sorour have an indirect interest in them, which is land sale agreement to construct and operate automotive manufacturing and assembly facility together with all ancillary services, for SAR 359.04 million (without preferential terms). (attached)
10. Voting on the transactions and contracts that was conducted between the Company and Public Investment Fund for the year 2022 which the Chairman of the Board Mr. Fahad Abduljalil Al-Saif and the Board member Mr. Naif Saleh Al-Hamdan have an indirect interest in them, which is signing of a term loan facility agreement, up to SAR 1,000 million (without preferential terms). (attached)
|The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any)||Please note that the shareholders are able to electronically vote on agenda items through the services of Tadawulaty starting from Sunday 4/6/2023G corresponding to 15/11/1444H at 1:00 a.m. until the end of the ordinary General Assembly meeting, Shareholders have the right to discuss the topics on the agenda of the assembly and ask questions. The electronic voting mechanism is available with no cost for all shareholders through the following link: |
|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 the event of an inquiry or questions, we hope to contact the Shareholders Relations Department by phone 0125106872 or via e-mail email@example.com. Shareholders will be able to direct their questions during the General Assembly.|
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.