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Molan Steel Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Extraordinary General Assembly Meeting
| Element List | Explanation |
|---|---|
| Introduction | The Board of Molan steel co is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly Meeting (the first meeting), which is scheduled to be held at 19:30 on sunday Aug 13, 2023, through modern technology by using Tadawulaty system. |
| City and Location of the General Assembly's Meeting | From company headquarters, at Riyadh city by using modern technology means (using Tadawulaty system only). |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2023-08-13 Corresponding to 1445-01-26 |
| Time of the General Assembly's Meeting | 19:30 |
| Attendance Eligibility | 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. |
| Quorum for Convening the General Assembly's Meeting | According to Article 34 of the Company Law, the extraordinary general assembly meeting shall be valid if attended by shareholders representing at least half of the share capital. If the necessary quorum is not met for holding the meeting, a second meeting shall be held after one hour from the specified time for the first meeting. In all cases, the second meeting shall be valid if attended by shareholders representing at least one-quarter of the share capital. If the necessary quorum is not met for the second meeting, a third meeting shall be called in accordance with the provisions of Article 31 of the Company Law, and it shall be valid regardless of the number of represented shares after obtaining the required approvals from the competent authorities. |
| General Assembly Meeting Agenda | 1- Voting on the division of the company's shares according to the following: A. The nominal value of the share before the adjustment is SAR 10. B. The nominal value of the share after the adjustment is SAR 1. C. The number of shares before the adjustment is 2,660,000 shares. D. The number of shares after the adjustment is 26,600,000 shares. E. There is no change in the company's capital before and after the share division. F. Effective date: If the item is approved, the decision to divide the shares will be effective for all shareholders of the company who own shares on the day of the extraordinary general assembly meeting registered in the company's shareholder register at the Securities Depository Center (Depository) at the end of the second trading day following the date of the extraordinary general assembly meeting. The effect of the decision will be applied to the share price starting from the next working day after the assembly meeting, provided that the decision is applied to the number of shares in the shareholders' portfolios on the second trading day following the date of the extraordinary general assembly meeting that decided to divide the shares. G. Amendment of Article (7) related to (the company's capital) H. Amendment of Article (8) related to (stock subscription) 2- Voting on amending the company's articles of association to comply with the new companies system, and rearranging and renumbering the articles to align with the proposed amendments. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any) | Shareholders registered in Tadawul can vote electronically remotely on the items of the Ordinary General Assembly starting from one am on, Aug 09, 2023 until the end of the time of the General Assembly, and voting and registration in Tadawulaty service will be available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly's Meeting Ends upon the Convenience of the General Assembly's Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | In the event of any inquiries ,please contact the Shareholders Relations Department +966112255601 email contact@molansteel.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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