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Saudi Arabian Amiantit Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting which include Capital Increase in person and by means of modern technology (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Arabian Amiantit Company is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly meeting which include the Increase of the company’s capital (First Meeting) scheduled for God Almighty’s will at 6:30 in the evening on Tuesday 10-08-1445H corresponding to 20-02-2024G in person and by means of modern technology. |
| City and Location of the Extraordinary General Assembly's Meeting | The company's main headquarters - Dammam – eastern province - and through modern technology. https://maps.app.goo.gl/yAmhHz9obRhoXMp99 |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-02-20 Corresponding to 1445-08-10 |
| Time of the General Assembly’s Meeting | 18:30 |
| Methodology of Convening the General Assembly’s Meeting | Attendance in-person and via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Shareholders who are registered in the issuers shareholders register 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 or an employee of the company. 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 Extraordinary General Assembly meeting shall be valid if attended by shareholders representing at least half of the capital. If the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for convening the first meeting, and the second meeting will be valid if attended by shareholders representing at least a quarter of the capital. |
| Meeting Agenda | 1- Voting on the Board of Directors’ recommendation to increase the capital by offering priority rights according to the following: - The reason for the capital increase: Financing working capital and Settlement of some banking obligations. - Method of capital increase: offering and listing rights shares for a number of (34,650,000) ordinary shares. - Eligibility Date: If the item is approved, the eligibility will be for the shareholders who own the shares on the day of the Extraordinary 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 date of the Extraordinary General Assembly. - The total amount of the offering is (346,500,000) Saudi riyals. - Amendment of Article (7) of the company's bylaws relating to (The Capital). (attached). - Amendment of Article (8) of the company's bylaws relating to (Subscribing to Shares). (attached). |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | The shareholder has the right to discuss the topics on the assembly’s agenda and ask questions, and vote in person via voting cards or shareholders registered in TADAWULATY services can vote electronically on the assembly’s by using the following link: www.tadawulaty.com.sa. |
| Details of the electronic voting on the Assembly’s agenda | Electronic vote starting at 1:00 am on Sunday 08-08-1445H corresponding to 18-02-2024G until the end of the time of the assembly by using the following link: www.tadawulaty.com.sa. |
| Method of Communication in Case of Any Enquiries | The company is pleased to receive any inquiries from the shareholders related to the agenda and reply any question from the date of publishing this announcement. Moreover, the questions of the shareholders will be replied during the General Assembly meeting. Kindly contact us on the below: - Investors Relationship Department. Tel: 013-8471500 Extn. 1117 Email: wkishk@amiantit.com |
| Additional Information | The shareholder has the right to authorize another person to attend on his behalf by virtue of a written power of attorney, provided that the agent is not a member of the board of directors or an employee of the company, and must be authenticated by: Chambers of Commerce whenever the shareholder is affiliated with one of them or the shareholder is a company or legal institution, or one of the licensed banks or licensed financial market institutions in the Kingdom, provided that the principal has an account with the banks or financial market institution that carries out certification, notaries or persons licensed in Documentation work. The shareholder or his agent must provide the company with a copy of the proxy at least two days before the meeting’s date and send it to (Saudi Arabian Amiantit Company - Tenth Street – First Industrial City 8182 Postal Code 32234 Dammam – Kingdom of Saudi Arabia). Email: wkishk@amiantit.com The agent must present the original power of attorney before the assembly is held, and all shareholders/agent must bring their ID document. |
| 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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