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Red Sea International Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Red Sea International Company is pleased to invite the shareholders to attend and vote in the Ordinary General Assembly Meeting (First Meeting), which is scheduled to take place at 07:00 PM on Tuesday 19/12/1445 corresponding to 25/06/2024, through the use of modern communication technologies. |
| City and Location of the General Assembly's Meeting | Through the use of Modern Technology from the Company's Headquarter in Riyadh |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-06-25 Corresponding to 1445-12-19 |
| 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 shall be valid once shareholders representing at least one-quarter of the share capital is present in the meeting. If the quorum required for the first meeting is not met, a second meeting will be held one hour after the expiration of the time allocated for the convention of the first meeting. The second meeting will be considered valid regardless of the number of shares represented. |
| General Assembly Meeting Agenda | 1. Review on the Board of Directors report for the Financial Year ended on 31-12-2023and discuss. 2. Vote on the Independent Auditor Report for the Financial Year ended 31-12-2023 after discussion. 3. Review the Financial Statements for the Financial Year ending on 31-12-2023 and discuss. 4. Voting on the appointment of the company's account auditor(s) from among the candidates based on the recommendation of the Audit Committee; to examine, review, and audit the financial statements for the (second, third, and fourth) quarters and the annual period of the fiscal year 2024 and for the first quarter of the fiscal year 2025, and determining their fees. 5. Vote on the payment of SAR 1,780,000 as remuneration to Board Members for the Financial year ended on 31-12-2023. 6. Voting to authorize the Board of Directors with the authority of the Ordinary General Assembly to grant the authorization mentioned in Paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of the General Assembly's approval or until the end of the term of the authorized Board of Directors, whichever is earlier, in accordance with the terms and conditions set out in the Regulatory issued in implementation of the Companies Law for listed joint-stock companies. |
| 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 items included on the general assembly's agenda and direct their inquiries regarding them to the Board of Directors. Esteemed shareholders can also vote remotely on the general assembly's agenda through the electronic voting service using the following link: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Registered shareholders on Tadawulaty may electronically vote on the agenda items starting from 01:00 am, Friday, 21/06/2024, corresponding to 15/12/1445 and until the General Assembly Meeting adjourns. Registration and voting shall be available free of charge for all shareholders through Tadawulaty services by using the following link: https://www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | In case of any inquiries, you can communicate with Shareholder Relations through: Phone: 0133613451 Fax: 0133614490 Email: compliance@redseaintl.com |
| Additional Information | Non |
| 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
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Last Price 43.25
Net Change -2.05 (-4.53%)
Value Traded (Sar) 43,716,249.1
Volume Traded 987,012
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