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The Board of Directors of Al Baha Investment and Development Company invites shareholders to attend the Extraordinary General Assembly meeting, which includes reducing the company’s capital (the third meeting).
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Al Baha Investment and Development Company is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly meeting (the third meeting), which is scheduled to be held, God willing, at 6:30 pm on Thursday, 18-06-1446, corresponding to 19-12-2024 through modern technological means. |
| City and Location of the Extraordinary General Assembly's Meeting | Al Bahah City - King Fahd Roads - the company’s headquarters, through modern technology means.” |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-12-19 Corresponding to 1446-06-18 |
| Time of the General Assembly’s Meeting | 18:30 |
| 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 | The Extraordinary General Assembly meeting shall be valid regardless of the number of shares with voting rights represented therein. |
| Meeting Agenda | 1- Voting on the Board of Directors' recommendation to reduce the company's capital as follows: • Company capital before reduction: (297,000,000) Saudi riyals • Company capital after reduction: (218,295,000) Saudi riyals • Number of shares before reduction: (2,970,000,000) shares • Number of shares after reduction: (2,182,950,000) shares • Reduction percentage: 26.5% of the company's capital • Reason for reducing capital: Extinguishing the company's accumulated losses amounting to 78,705,000 Saudi riyals, at a rate of (98.42)% of the company's accumulated losses amounting to (79,969,540) Saudi riyals as of 30-06-2024, so that the company's accumulated losses become an amount of (1,264,540) Saudi riyals, at a rate of (0.58)% of the capital The company's new capital is 218,295,000 Saudi riyals. • Capital reduction method: Cancellation of 787,050,000 shares with a nominal value of (0.10) ten Saudi halalas 1 share will be diluted for every 3.77 shares. • Reduction rate: Reducing (0.265) share for every share owned. • Date of reduction: If the item is approved, the reduction decision will be effective for the company's shareholders who own shares on the day of the Extraordinary General Assembly meeting and are registered in the company's shareholders' register at the Securities Depository Center (Depository Center) at the end of the second trading day following the date of the Extraordinary General Assembly meeting in which the capital reduction was decided. • Impact of capital reduction on the company's obligations: There is no impact of reducing the company's capital on its financial obligations. • Amendment of Article (7) of the Company's Articles of Association related to the capital (attached) 2- Voting on amending Article (5) of the company’s bylaws, related to (the company’s main office). (Attached) |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Every shareholder has the right to discuss the items on the agenda of the assembly and to ask questions. It is noted that voting in “Tadawulaty” services is available for free to all shareholders using the following link: https://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 Sunday 14-06-1446 corresponding to 15-12-2024 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 | Accordingly, the company hopes that all its shareholders will register in “Tadawulaty” to participate and vote remotely on the assembly’s items through the website. In case of any inquiries or questions related to the assembly’s items, please contact us via email. invest@albahacompany.com |
| Additional Information | The company would also like to clarify to the honorable shareholders that based on the results of 09/30/2024, the company’s accumulated losses have become an amount of (80,358,056) Saudi riyals, and if the capital reduction clause is approved, the company’s losses will become an amount of (1,653,056) Saudi riyals, at a rate of (0.76)% of the company’s new capital of 218,295,000 Saudi riyals. |
| 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 2.12
Net Change 0.01 (+0.47%)
Value Traded (Sar) 6,992,707.21
Volume Traded 3,302,956
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