Arabian Pipes Co. Announces the Non convenience of its ( Second Meeting ) Extraordinary General Assembly’s Meeting Meeting
|Introduction||Arabian pipes company announces the non-convening of the Extraordinary General Assembly Meeting (First & Second Meeting) which was held on Wednesday 19th of Rajab 1442H corresponding to 03rd of March 2021 (virtually) through Tadawulaty website for the safety of shareholders and in the support of preventive and precautionary measures applied by the competent and relevant health authorities to address the emerging corona virus (COVID-19), and as an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread. |
Due to the lack of quorum for both meetings, as the first meeting got attendance of (7.28%) and the second meeting got attendance of (7.46%), it is has been decided to defer the assembly and call for a third meeting, which will be announced at a later date after getting the necessary approvals from the concerned parties.
|Indicate the date of the non-convened assembly||2021-03-03 Corresponding to 1442-07-19|
|City and Location of the General Assembly's Meeting||Riyadh- Sulimaniah office|
|Time of the General Assembly's Meeting||19:00|
|The reason behind non-convening the assembly||Incomplete quorum|
|Percentage of Attending Shareholders||7.28% first meeting |
7.46% the second meeting
|The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors on profits or on the work of the External Auditor (where applicable).||There is no|
|The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors capital alterations||There is no|
|Additional Information||The company will subsequently call the third extraordinary general assembly meeting after setting its date and obtaining the approval of the competent authorities, noting that the third meeting will be held by the shareholders who attended.|
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.