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Arabian Pipes Co. Announces the Results of the Extraordinary General Assembly’s Meeting Approving The Company's Share Capital Increase (Third Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Arabian Pipes Company Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving Increase of The Company's Share Capital (Third Meeting ) |
| City and Location of the Extraordinary General Assembly's Meeting | Riyadh - By using modern technology from the company's headquarters |
| Date of the Extraordinary General Assembly's Meeting | 2026-08-24 Corresponding to 1448-03-11 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | % 22,95 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1) Mr. Youssef Bin Saleh Abalkhail. (Chairman) 2) Mr. Khalid bin Abdullah Abunayyan. (Vice chairman) 3) Mr. Saad Bin Falah al-Qahtani (Member of the Board of Directors) 4) Mr. Azzam Bin Saud Al-mudaiheem (Member of the Board of Directors) 5) Mr. Abdullah bin Mohammed Alharbi (Member of the Board of Directors) 6) Eng. Abdulaziz Ali Almasood (Member of the Board of Directors) 7) Mr. Maan Yousef Abalkhail (Member of the Board of Directors) 8) Eng. Ahmed Bin Ali Al-Lohaidan (Member of the Board of Directors – CEO) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | 1) Mr. Khalid bin Abdullah Abunayyan. (Chairman of Executive committee) 2) Mr. Saad Bin Falah al-Qahtani. (Chairman of the Audit Committee) 3) Mr. Abdullah bin Mohammed Alharbi. (Chairman of the Remuneration and Nominations Committee and Chairman of the Governance and Risk Management Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's (Including a detailed breakdown for each resolution, of the percentage of votes cast in approval, non-approval, and abstentions) | 1) Approve on the Board recommendation to increase the Company’s capital by granting bonus shares to the company’s shareholders as follows: A) Total amount of increase: SAR 52,000,000 B) Capital before increase: SAR 200,000,000. Capital after increase: SAR 252,000,000. Increase percentage: (26%). C) Number of shares before increase: 200,000,000 shares. Number of shares after increase: 252,000,000 shares D) By increasing the capital, the company aims to strengthen the company's capital base, thus contributing to enhancing future growth plans E) The capital increase will be effected by capitalizing SAR 52,000,000 (fifty-two million Saudi Riyals) from the retained earnings account through the issuance of 50,000,000 bonus shares to shareholders registered in the shareholders' register (representing a 25% increase, at a ratio of one share for every four shares held). The remaining new shares resulting from the increase will be allocated as treasury shares for the employee incentive share program—in accordance with the long-term incentive plan—amounting to 2,000,000 shares (representing 1% of the Company's capital prior to the increase). F) If the clause is approved, the eligibility date for the bonus shares will be for the shareholders who own the shares on the day of the extraordinary general assembly registered in the company shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the entitlement date G) In the event of fractional shares, the fractions will be grouped into a single portfolio for all shareholders and sold at the market price and then distributed to the shareholders entitled to the grant each according to their share within 30 days of the date of the determination of the shares due to each shareholder. H) Approve to amend Article (7) relating to Capital, of the Articles of Association of the company. I) Approve on the amendment to Article (8) of the Company’s Articles of Association regarding share subscription. • Percentage of Approving Votes: 97.45% • Percentage of Non-Approving Votes: 02.23% • Percentage of Abstaining Votes: 00.32% 2) Approve on the employee share allocation program and on authorizing the Board of Directors to determine the terms of the program—including the allocation price per share offered to employees. • Percentage of Approving Votes: 88.40% • Percentage of Non-Approving Votes: 09.59% • Percentage of Abstaining Votes: 02.00% |
| Additional Information | NA |
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
Key Parameters
Last Price 5.68
Net Change 0.05 (+0.89%)
Value Traded (Sar) 43,268,807.09
Volume Traded 7,515,505
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