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The Savola Group invites its shareholders to attend the General Assembly Ordinary Meeting (No.42) (First Meeting) Virtual meeting via modern technology means

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Introduction The Savola Group Board is pleased to invite the esteemed shareholders to the General Assembly (GA) Ordinary Meeting (No.42), which will be held on Tuesday 20 September 2022 at 07:30 PM corresponding to 24 Safar 1444H (as per Um Al-Qura Calendar) to discuss the Meeting Agenda which consists of one item only.
City and Location of the General Assembly's Meeting At Savola’s Headquarter in Jeddah, Al-Shati District – Savola Tower via modern technology means (online)
URL for the Meeting Location www.tadawulaty.com.sa
Date of the General Assembly's Meeting 2022-09-20 Corresponding to 1444-02-24
Time of the General Assembly's Meeting 19:30
Attendance Eligibility Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre 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 The General Assembly Meeting will reach its quorum, if attended by a number of shareholders representing 25% of the share capital of the Company, if such quorum is not present at the first meeting, an invitation shall be sent for a second meeting to be held after a lapse of an hour from the preceding meeting. The second meeting shall be valid regardless of the number of shares represented therein as per the company’s bylaws.
General Assembly Meeting Agenda Voting on the businesses and contracts which will be executed between Savola Group and Taiba Investments Company, in which Mr. Badr Al Issa (Savola vice-chairman) and two of Savola Board members (Mr. Mohammed Al Issa, and Eng. Mutaz AlAlazzawi) have an indirect interest. Both Mr. Badr Al Issa and Mohammed Al Issa have a relative who is a major shareholder in Taiba investment Co. (the buyer) and Eng. Mutaz Al Azzawi has a relative in Taiba investment Co. who is a Board Member. The agreement is to sale Savola entire shares of 11.47% that includes (6.40%) as direct ownership in Knowledge Economic City Co. and (5.07%) as indirect ownership through its shareholding in Knowledge Economic City Developers Co. Limited after obtaining the necessary approval of the regulatory authorities or contractual parties .However, in case the two parties were unable to obtain any of the required approvals to complete the transaction or if they were unable to fulfill any of the legal procedures and conditions precedent within (120) days from the date of the Agreement signature, the two parties, by written agreement, may either cancel the transaction and terminate this Agreement, or extend it for an additional period, or partially cancel the transaction. The transaction total value will be amounted to SAR 459.26 million and there are no preferential terms. (attached)
Proxy Form
E-Vote The shareholders, who are registered in the Tadawulaty electronic trading services, can remotely vote on the items of the General Assembly Meeting Starting from Friday 16 September 2022 corresponding to 20/02/1444 at 01:00 a.m. until the end of the GAM. The registration and voting are free of charge and will be available through the electronic voting service following link: (https://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 For more information, please contact us through the following:

Direct phone No.: 012- 2687840 or Fax No.: 012-2687828

Savola Group 2444 Taha Kusaifan-Ashati District

Unit No. 15 , Jeddah 23511-7333

Ashati District, Jeddah, Prince Faisal Bin Fahd Road,

Or through the following email: CGNour@savola.com

Additional Information For more details, the Company has attached the documents pertaining to the agenda along with this announcement for your kind review and access
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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