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The Board of Directors of Burj Al Maarifa Trading Company invites its shareholders to attend the Extraordinary General Assembly Meeting (First Meeting) via modern technology.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Burj Al-Maarifa Trading Company is pleased to invite the honorable shareholders to participate and vote in the Extraordinary General Assembly Meeting (First Meeting), which is scheduled to be held via modern purification methods, God willing, at exactly (19:00) on Sunday, 04/10/1446 AH corresponding to 10/13/2024 AD. |
| City and Location of the General Assembly's Meeting | At the company’s branch headquarters in Riyadh (Salah Al-Din Al-Ayyubi Road - Al-Safa District) - using modern technology |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-10-13 Corresponding to 1446-04-10 |
| 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 | The right to attend shall be for shareholders registered in the issuer’s shareholders’ register at the Depository Center at the end of the trading session preceding the General Assembly meeting, in accordance with the rules and regulations. The right to register attendance at the General Assembly meeting also ends at the time the General Assembly meeting is held, and the right to vote on the items of the Assembly for those present ends when the counting committee finishes counting the votes. |
| Quorum for Convening the General Assembly's Meeting | According to Article (36) of the company’s articles of association, the extraordinary general assembly meeting shall not be valid unless it is attended by shareholders representing at least half of the company’s shares that have voting rights. If this quorum is not available at the first meeting, the second meeting shall be held one hour after the end of the period specified for holding the first meeting. In all cases, the second meeting shall be considered valid if it is attended by a number of shareholders representing at least a quarter of the company’s shares that have voting rights. |
| General Assembly Meeting Agenda | 1. Voting on the company's auditor's report for the fiscal year ending March 31, 2024 after discussing it. 2. Reviewing and discussing the Board of Directors' report for the fiscal year ending March 31, 2024. 3. Reviewing and discussing the company's financial statements for the fiscal year ending March 31, 2024. 4. Voting on discharging the Board of Directors from their liabilities for the fiscal year ending March 31, 2024 5. Voting on appointing an auditor for the company from among the candidates based on the recommendation of the Audit Committee; to examine, review and audit the company's preliminary financial statements for the first half ending on 09-30-2024 and the annual financial statements ending on 03-31-2025. And determining his fees 6. Voting on disbursing an amount of (30,000) thirty thousand riyals as a reward for the members of the Board of Directors for the fiscal year ending on 03/31/2024. 7. Voting on authorizing the Board of Directors to distribute interim dividends to shareholders on a semi-annual/quarterly basis for the fiscal year ending on 03/31/2025 AD. 8. Voting on authorizing the Board of Directors with the authority of the Ordinary General Assembly to authorize the Board of Directors in paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of approval by the General Assembly or until the end of the term of the authorized Board of Directors, whichever comes first, in accordance with the conditions stipulated in the executive regulations of the Companies Law for listed joint stock companies. 9. Voting on the Board of Directors’ decision to appoint Mr. Majed Muhammad Al-Ammar - Member (Executive) of the Board of Directors starting from the date of his appointment on 10/05/2023 AD to complete the Board’s term until the end of the current term on 04/03/2026 AD. Successor to the former member Mr. Khaled Abdul Rahman Al-Amer - Independent Member. (CV attached) 10. Voting on the business and contracts that were concluded between the company and Abraj Al-Ma'rifa Education Company, in which both the former Chairman of the Board of Directors (Ms. Nouf Hassan bin Abdullah Al-Yemeni) and the Board Member and CEO (Mr. Majed Mohammed Al-Ammar) have an indirect interest, which are (book sales, and these transactions were for the year 2024. These transactions are carried out in the context of normal business and according to the prevailing commercial terms and without any preferential conditions) and the value of the transactions during the year 2024 is (460,863) riyals (attached) 11. Voting on the business and contracts that were concluded between the company and Abraj Al-Ma'rifa Education Company, in which both the former Chairman of the Board of Directors (Ms. Nouf Hassan bin Abdullah Al-Yemeni) and the Board Member and CEO (Mr. Majed Mohammed Al-Ammar) have an indirect interest, which are (transactions to implement capital works under construction, and these transactions were for the year 2024. These transactions are carried out in the context of normal business and according to the prevailing commercial terms and without any preferential conditions) The value of transactions during the year 2024 AD is (1,500,000) riyals (attached) 12. Voting on the business and contracts concluded between the company and the member of the Board of Directors and the CEO (Mr. Majed Mohammed Al-Ammar) in which he has a direct interest and the former Chairman of the Board of Directors (Ms. Nouf Hassan bin Abdullah Al-Yemeni) in which she has an indirect interest, which is (purchasing land from the member of the Board of Directors and the CEO Mr. Majed Mohammed Al-Ammar and these transactions were for the year 2024 AD and these transactions are carried out in accordance with the prevailing commercial terms and without any preferential conditions) and the value of transactions during the year 2024 AD is (6,314,000) riyals (attached) 13. Voting on transferring the balance of the statutory reserve amounting to (897,223) Saudi riyals to the balance of retained earnings amounting to (1,376,891) Saudi riyals as in the annual financial statements ending on (31/03/2024). |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Dear shareholders have the right to discuss the topics included in the agenda of the Extraordinary General Assembly and to ask questions, noting that voting in Tadawulaty services is available free of charge to all shareholders using the following link: www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawulaty services can vote electronically remotely on the assembly’s items starting from 1:00 AM on Wednesday, 04/06/1446 AH corresponding to 10/09/2024 AD until the end of the assembly’s meeting time. Registration and voting in 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 | In case of any inquiries, please contact Shareholder Relations on 0138445400, fax 0138445300, or email nouf@kntbook.com |
| 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 13.99
Net Change -0.04 (-0.29%)
Value Traded (Sar) 173,272.38
Volume Traded 12,307
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