Riyad Bank Invites its Shareholders to Attend the Ordinary General Assembly Meeting (First Meeting) by Means of Modern Technology.
|Introduction||The Board of Directors of Riyad Bank (the “Bank”) is pleased to invite its shareholders to attend the Ordinary General Meeting (First Meeting) scheduled to be held at 6:30 PM on Tuesday, 10/08/1442H (corresponding 23/03/2021G) by means of modern technology. This is in support of the preventive and precautionary efforts and measures exerted by the competent and relevant health authorities to address the emerging Corona Virus (COVID-19), and as an extension of the continuous efforts exerted by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread.|
|City and Location of the General Assembly's Meeting||By means of modern technology|
|URL for the Meeting Location||https://www.tadawulaty.com.sa|
|Date of the General Assembly's Meeting||2020-03-23 Corresponding to 1441-07-28|
|Time of the General Assembly's Meeting||18:30|
|Attendance Eligibility||Shareholders Registered in the Bank’s Shareholders Registry in the Depository Center at the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations.|
|Quorum for Convening the General Assembly's Meeting||As per Article (30) of the Bank Articles of Association, the Quorum for holding the meeting will be quarter of the shareholding capital. In case of non-completion of the quorum at this meeting, a second meeting will be held within one hour of the scheduled time for the first meeting, and this meeting will be valid regardless of the number of shares represented therein.|
|General Assembly Meeting Agenda||1.To vote on the board of director’s report for the fiscal year ending on 31/12/2020. |
2.To vote on the banks financial statements as in 31/12/2020
3.To vote on the discharge of the board members for the fiscal year ending on 31/12/2020.
4.Vote to disburse an amount of (5,945) thousand riyals as a bonus to the members of the Board of Directors for the fiscal year ending 12/31/2020.
5.Vote on the Board of Directors ’recommendation to distribute cash dividends amounted to SAR (1,500) million to shareholders for the year 2020, with the value of (50) Halalas per share and at rate of (5%) of the capital, provided that the shareholders who own the shares are eligible by the end of The day of the general assembly meeting and those registered in the Banks shareholders register at the Securities Depository Centre Company are traded at the end of the second trading day following the maturity date, provided that dividend distribution starts on Tuesday 04/06/2021 corresponding to 08/24/1442. (attached)
6.To vote on authorizing the Board of Directors to distribute interim dividends to shareholders for the fiscal year 2021 on biannually or quarterly basis.
7.To vote on the appointment of external auditors from among the candidates recommended by the Audit Committee to audit the Bank’s annual financial statements for the first, second, third quarters and annual financial statements for the fiscal year 2021 and the first quarter of the fiscal year 2022, and provide Zakat and TAX services along with determining their fees. (attached)
8.To vote on authorizing the Board of Directors the power of license included in paragraph (1) of Article (71) of the Companies Law, for one year from the date of approval of the General Assembly or until the end of the Board of directors term whichever is proceeds, in accordance with the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.
9.To vote on the transactions and contracts between the bank and General Organization for Social Insurance (GOSI) where the board member Mr. Nader Ibrahim Al-Wehaibi (Works at GOSI) has indirect interest and the board member Mr. Mohammed Talal Al-Nahas (board member at GOSI) has indirect interest. It consists of a rental contracts for Riyad bank HQ building and other locations/branches in Riyadh and two ATM’s, the value of these transactions reached in 2020 SAR (29,356,040) without preferential terms. (attached)
10.To vote on the transactions and contracts between the bank and Saudi Telecom Company (STC) where the board member Mr. Mohammed Talal Al-Nahas (board member at STC) has indirect interest. It consists of contract for linking the branches and buildings network for IPVPN data services, a service management contract for the SMS platform, and a lease contract for two ATM locations, the value of these transactions reached in 2020 SAR (65,790,892) without preferential terms. (attached)
|E-Vote||Electronic voting will start at 10:00 am on Friday, 19/03/2021G corresponding to 06/08/1442H and will end once the Ordinary General Meeting ended. Shareholders registered in Tadawulaty system will be able to vote remotely via the website http://www.tadawulaty.com.sa. |
Tadawulaty registration and voting on the General Assembly meeting agenda items is free of charge.
|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||For any inquiries, please contact |
Tel: 011-276-3007 During the bank's working hours or by email
|Additional Information||All documents related to the agenda items above, are available on the bank’s website.|
The Capital Market Authority and the Saudi Stock 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.