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The Savola Group invites its shareholders to attend the Extraordinary General Assembly Meeting (No.35) which includes Capital Increase via modern technology means. (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Savola Group (“Savola” or “Company”) Board is pleased to invite the esteemed shareholders to participate and vote in the Extraordinary General Assembly Meeting (EGM) (No.35(, which includes the increase of the Company’s capital (first meeting) that will be held remotely via modern technology means at 7:30 PM Sunday, 25/8/2024 corresponding to 21/2/1446H (as per Um Al-Qura Calendar). |
| City and Location of the Extraordinary General Assembly's Meeting | Savola’s Headquarter in Jeddah, Al-Shati District – Savola Tower, and through the electronic voting service (Tadawulaty) |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-08-25 Corresponding to 1446-02-21 |
| Time of the General Assembly’s Meeting | 19:30 |
| 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 Company’s shareholders record at the Depositary Center (Edaa) by the end of the trading session prior to the EGM and in accordance with the laws and regulations. Each shareholder has the right to delegate whomever other than the Board members. The right to register to attend the EGM ends at the time of convening the said EGM. The attendees’ right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Votes Counting Committee. |
| Quorum for Convening the General Assembly's Meeting | In order for this assembly to be valid, a number of shareholders representing 50% of the Company’s share capital must be present, according to the provision of Article (30) of the Company's bylaws. In the event that this quorum is not available at the first meeting, a second meeting will be held an hour after the end of the period specified for the first meeting. The second meeting will be valid, if attended by number of shareholders representing 25% of the Company’s share capital as per the Company’s bylaws. |
| Meeting Agenda | 1.Voting on the Board of Directors’ recommendation to increase the Company’s capital by offering rights issue according to the followings: -Reasons for the increase of the capital: to enable the Company to strengthen its financial position and support its future investment portfolio by paying off its debts and enabling it to distribute its shares in Almarai Company, in accordance with applicable KSA regulations, to Savola’s eligible shareholders through a capital reduction following the Rights Issue. -Method of increasing capital: Offering and listing rights shares for 600,000,000 ordinary shares. -Eligibility date: In the event that the shareholders of the Company at the Extraordinary General Assembly meeting agree to increase the capital, eligible shareholders will be those who own shares at the end of the trading day of the Extraordinary General Assembly Meeting on the Capital Increase and who are registered in the Company’s shareholders' register with the Securities Depository Centre (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly Meeting. -The total amount of the offering is 6,000,000,000 Saudi Riyals. -Company capital before the increase:5,339,806,840 Saudi Riyals -Company capital after the increase:11,339,806,840 Saudi Riyals -Number of the Company’s shares before the Increase:533,980,684 shares -Number of the Company’s Shares After the Increase:1,133,980,684 shares -Percentages of the change in the capital:112.36% -Number of the shares offered through rights issue: 600,000,000 ordinary shares at an average of (1.1236) per (1) owned share at an offer price of Saudi Riyals 10 per share. -Amendment of Article (7) of the Company's bylaws regarding the Company’s share capital. (attached). -Amendment of Article (8) of the Company's bylaws regarding (Subscribing to Shares). (attached). |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders are entitled to discuss the agenda items of the General Assembly meeting and raise relevant questions to the Board members, noting that the voting is available for free for all Shareholders via: http://tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | The shareholders, who are registered in the Tadawulaty electronic trading services, can electronically vote on the items of the General Assembly Meeting Starting from Wednesday, 21/8/2024 corresponding to 17/2/1446 H (as per Um Al-Qura Calendar) until the end of the EGM. The registration and voting are free of charge and will be available through the electronic voting service following link: (https://www.tadawulaty.com.sa) |
| Method of Communication in Case of Any Enquiries | For more information, please contact us through the following: Direct phone No.: 012- 2687797 or Fax No.: 012-2687890 Savola Group 2444 Taha Kusaifan-Ashati District Unit No. 15 , Jeddah 23511-7333 Ashati District, Jeddah, Prince Faisal Bin Fahd Road, Or through the following email: CGNour@savola.com |
| Additional Information | In this regard, the Company has attached the documents pertaining to the agenda items (where applicable) accompanying this announcement for your kind review and access. |
| 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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