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Arriyadh Development Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

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Introduction The Board of Directors of Al-Riyadh Development Company is pleased to announce the results of the company’s Ordinary General Assembly (the first meeting), which was held at exactly eight o’clock in the evening on Wednesday 30/11/1443 AH corresponding to 06/29/2022 AD. After completing the quorum necessary for the validity of the ordinary general assembly meeting, according to the company’s articles of association.
City and Location of the General Assembly's Meeting The company's main headquarters in Riyadh - Al-Dirah district - King Fahd Road - Riyadh by means of modern technology.
Date of the General Assembly's Meeting 2022-06-29 Corresponding to 1443-11-30
Time of the General Assembly's Meeting 20:00
Percentage of Attending Shareholders 42.94
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The meeting of the General Assembly was attended by means of modern technology, the following members of the Board of Directors:

1. Mr. Majid bin Nasser Al-Subaie - Vice Chairman of the Board of Directors -

2. Engineer / Ali bin Abdullah Al-Hassoun

3. Mr. Abdullah bin Muhammad Al-Bahouth

4. Mr. Fahd bin Abdullah Al-Qasim

5. Mr. Nayef bin Ibrahim Al-Hadithi

6. Mr. Abdul-Ilah bin Abdulrahman Al-Hussein

He apologized for not attending the General Assembly meeting:

1. His Highness Prince / Faisal bin Abdulaziz bin Ayyaf - Chairman of the Board of Directors.

2. Mr. Suleiman bin Nasser Al-Hatlan

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf 1. Mr. Majid bin Nasser Al-Subaie - Member of the Executive Committee

2. Mr. Abdullah bin Muhammad Al-Bahouth - Member of the Executive Committee and the Remuneration and Nominations Committee

3. Mr. Fahd bin Abdullah Al-Qasim - Member of the Executive Committee

4. Mr. Abdul-Ilah bin Abdul Rahman Al-Hussein - Member of the Remuneration and Nominations Committee.

5. Mr. Nayef bin Ibrahim Al-Hadithi - Member of the Executive Committee.

Voting Results on the Items of the General Assembly's Meeting Agenda's 1- Approval of the formation of the Audit Committee for the new session, starting from the date of the assembly’s convening 06-29-2022 AD until the end of the session on 06-24-2025 AD, and its tasks, work regulations and remunerations for its members, and the candidates are (CV attached):

1) Mr. Suleiman bin Nasser Al Hatlan Al-Qahtani - independent member.

2) Mr. Nayef bin Ibrahim Al-Hadithi - independent member.

3) Mr. Ahmed bin Abdullah Al-Kanhal - a member from outside the council.

4) Mr. Saleh bin Moqbel Al-Khalaf - a member from outside the council.

2- Not approving the request of shareholders who constitute more than 5% of the company’s capital to distribute cash dividends to shareholders from the balance of retained earnings in the amount of (88,888,888.5) Saudi riyals at (0.50) riyals per share, which represents (5%) of the nominal value of each share.

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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