AnnouncementDetails

Actions

Bank AlJazira invites its shareholders to attend the Ordinary General Assembly Meeting No 62 (the 1st meeting)

Element ListExplanation
Introduction The Board of Directors of Bank AlJazira is pleased to invite its shareholders to participate and vote in the Ordinary General Meeting (First Meeting) scheduled to be held at 11:30 PM on Thursday, April 29th 2021 by means of modern technology using Tadawulaty. 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 Bank Aljazira Central Region Building, Riyadh City, located in Al worood district, Olaya Street.
URL for the Meeting Location https://www.tadawulaty.com.sa
Date of the General Assembly's Meeting 2021-04-29 Corresponding to 1442-09-17
Time of the General Assembly's Meeting 23:30
Attendance Eligibility All shareholder registered in the bank’s shareholders record at the Depository Center at the end of the trading session preceding the General Assembly meeting has the right to register the electronic attendance and vote using the Tadawulaty system in the General Assembly meeting and according to the rules and regulations.

The right to register the attendance of the Assembly meeting ends upon the Assembly meeting adherence time. Moreover, the attendees right to vote on the General Assembly's agenda items ends upon the completion of the votes count by the counting committee.

Quorum for Convening the General Assembly's Meeting As per Article (35) of the Bank Articles of Association, the Quorum for holding the meeting will be 25% 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 Directors Annual Report for the fiscal year ending 31 December 2020.

2. To vote on the Financial Statements for the year ending 31 December 2020.

3. To vote on the External Auditor’s Report for the year ending 31 December 2020.

4. To vote on releasing the Board of Directors members from their liability for the fiscal year ending 31 December 2020.

5. To vote on appointing the Bank’s External Auditors among the candidates based on the Audit Committee recommendation as to examine, review and audit the financial statements for the first, second and third quarter along with 2021 year end financials and determining their fees.

6. To vote on the Board of Directors Resolution appointing Mr. Naif AlAbdulkareem (an Executive Director) in the Board of Directors, in the vacant seat effective from 21 January 2021 to the end of the current Board tenor on 31 December 2021, in replacement of the previous member Mr. Nabil Bin Dawood Al Hoshan (an Executive Director). ( CV Attached)

7. To Vote on the businesses and contracts that will take place between the Bank and AlJazirah Cooperative Takaful Company which is considered a Related Party as Eng. Abdulmajeed Al-Sultan, a BAJ board director member, has an indirect interest in it being a board of director member of AlJazirah Cooperative Takaful Company. These contracts are the collective insurance agreement for the personal finance portfolio, the collective insurance agreement for the real estate finance portfolio, the collective insurance services agreement for the bank’s employees, the loan portfolio protection services agreement for the bank’s employees and their licensing for the next year. These transactions in 2020 amounted to SAR 168.3 Million and were done without any preferential treatment. (attached).

8. To Vote on the businesses and contracts that will take place between the Bank and AlJazira Capital Company which is considered a Related Party as Mr. Naif Al-abdulkareem, a BAJ board of director member, has an indirect interest in it being a board director member of Al-Jazirah Capital Company. These agreements are mutual services, Tammam product sharing agreement, a special commission expense agreement on time deposits, and branch lease expense agreement and their licensing for the next year. These transactions in 2020 amounted to SAR 17.6 Million and were done without any preferential treatment (attached).

Proxy Form
E-Vote The registered shareholders will be able to vote on the AGM meeting’s agenda through the electronic Tadawulaty voting service website (https://login.tadawulaty.com.sa) starting from 10:00 AM on Sunday 25th April 2021 until the AGM’s convening time. Noting that the registration and voting in Tadawulaty services are available & free of charge to all shareholders.
Eligibility for Attendance Registration and Voting The right to register the attendance of the Assembly meeting ends upon the Assembly meeting adherence time. Moreover, the attendees right to vote on the Assembly's agenda items ends upon the completion of the votes count by the counting committee.
Method of Communication Please contact the Shareholders Affairs Unit in case of any enquiry on the Assembly's agenda items through the following numbers: 011 2157325 or 012 6098394 and fax numbers: 012 2346846 or 011 2157358 or email: SSU@baj.com.sa during the Bank official working hours.
Additional Information Attached
Attached Documents  

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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
16.62 0.06 (+0.36%)
Value Traded (SAR) Volume Traded
67,837,802.94 4,091,621

RelatedAnnouncementPortlet

Actions

Related Announcements