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Saudi AZM for Communication and Information Technology Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the (First Meeting) by means of modern technology
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Saudi AZM for Communication and Information Technology Company is pleased to invite shareholders to participate and vote in the Extraordinary General Assembly meeting (The first meeting), which is scheduled to be held, God Almighty, at 19:30 on Thursday 30 Rabi Alawwal 1446AH corresponding to 03 October 2024 AD, through the means of modern technology. |
| City and Location of the General Assembly's Meeting | Company headquarters in Riyadh City through modern technology means via the Tadawulaty Platform. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-10-03 Corresponding to 1446-03-30 |
| 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 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 | According to Article 27 of the Company’s Bylaws the meeting of the Ordinary General Assembly shall not be valid unless attended by shareholders representing at least half of the capital, If this quorum is not met during the first meeting, a second meeting will be held within one hour of the scheduled time for the first meeting, and the second meeting will be held one hour after the end first meeting regardless of the number of outstanding shares that have voting rights attending the second meeting. |
| General Assembly Meeting Agenda | 1.Reviewing and discussing the Board of Directors’ report for the financial year ending June 30, 2024. (attached) 2.Voting on the auditor's report for the fiscal year ended June 30, 2024 after discussing it. (attached) 3.Reviewing and discussing the annual financial statements for the fiscal year ending on June 30, 2024. (attached) 4.Voting on appointing the company’s auditor from among the candidates, based on the recommendation of the Audit Committee, in order to examine, review, and audit the financial statements for the quarter (first, second, third, and fourth) and annual of the fiscal year 2025 AD and the first quarter of the fiscal year 2026 AD and determine his fees. 5.Voting on the business and contracts concluded between the Company and AZM Financial Technology Company in which the Chairman of the Board of Directors Mr. Majid Alosaimi and the member of the Board of Directors Mr. Ali Alballaa have an indirect interest in them, noting that the nature of the transaction is the business under a framework agreement for (5) years to provide consulting services with a value (19,516,315) Saudi riyals, in the year 2024 AD, noting that there are no preferential terms in this agreement. (attached) 6.Voting on the business and contracts concluded between the company and AZM Digital for Communication and Information Technology Company in which the Chairman of the Board of Directors, Mr. Majid Alosaimi and the member of the Board of Directors Mr. Ali Alballaa have an indirect interest in them, noting that the nature of the transaction is business under a framework agreement for (5) years to provide Consulting services with a value (16,596,418) Saudi riyals, in the year 2024 AD, noting that there are no preferential terms in this agreement. (attached) 7.Voting on the business and contracts concluded between the company and Future Communication for Communication and Information Technology Company in which the Chairman of the Board of Directors, Mr. Majid Alosaimi and the member of the Board of Directors, Mr. Ali Alballaa, have an indirect interest in them, noting that the nature of the transaction is business under a framework agreement for (5) years to provide consulting services with a value (489,167) Saudi riyals, in the year 2024 AD, noting that there are no preferential terms in this agreement. (attached) 8.Voting on the business and contracts concluded between the company and AZM Development Private Limited Company in which the Chairman of the Board of Directors, Mr. Majid Alosaimi and the member of the Board of Directors, Mr. Ali Alballaa, have an indirect interest in them, noting that the nature of the transaction is business under a framework agreement for (5) years to provide consulting services with a value (375,930) Saudi riyals, in the year 2024 AD, noting that there are no preferential terms in this agreement. (attached) 9.Voting on the business and contracts concluded between the company and the National Real Estate Platform Company (Aqarek), in which the Chairman of the Board of Directors, Mr. Majid Alosaimi and the member of the Board of Directors, Mr. Ali Alballaa, have an indirect interest in them, noting that the nature of the transaction is business under a framework agreement for (5) years to provide consulting services with a value of (2,257,186) Saudi riyals, in the year 2024 AD, noting that there are no preferential terms in this agreement. (attached) 10.Voting on disbursing an amount of (354,000) Saudi riyals as a Remuneration to members of the Board of Directors for the fiscal year ending on June 30, 2024 AD, and the Chairman of the Board of Directors, Mr. Majid Alosaimi, and the member of the Board of Directors, Mr. Ali Alballaa, waived the Remuneration. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | All shareholders have the right to discuss and ask the board members about all the issues in the General Meeting Agenda. While shareholders registered in Tadawulaty services can vote on GM Agenda by using the link: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | The registered shareholders in the Tadawulaty services will be able to vote remotely on the items of the assembly, starting from one in the morning on (Saturday) 26-03-1446 AH corresponding to 29-09-2024 AD, and registration and voting in the Tadawulaty services will be available and free for all Shareholders using the following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | For more inquiries, please contact the Investor Relations unit. Phone: 0112884141 E-mail: IR@azm.sa |
| 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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Last Price 21.5
Net Change -0.7 (-3.15%)
Value Traded (Sar) 494,087.6
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