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Al Masane Al Kobra Mining Co. (AMAK) invites its shareholders to attend The Extraordinary General Assembly Meeting (First Meeting) by means of modern technology

Element ListExplanation
Introduction The Board of Directors of Almasane Alkobra Mining Co, AMAK is pleased to invite the shareholders to participate and vote in the Extraordinary general assembly meeting (the first meeting), which is scheduled to be held at 6:30 on Sunday 27/11/1443H, corresponding to 26/06/2022G, through modern technology by using Tadawulaty system.
City and Location of the General Assembly's Meeting From AMAK’s headquarters, at Najran by using modern technology means (using Tadawulaty system only).
URL for the Meeting Location

https://www.tadawulaty.com.sa

Date of the General Assembly's Meeting 2022-06-26 Corresponding to 1443-11-27
Time of the General Assembly's Meeting 18:30
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 meeting of The Extraordinary General Assembly shall be valid if attended by shareholders representing at least half of the Company's capital. If the necessary quorum is not available to hold this meeting, the second meeting will be held an hour after the end of the period specified for convening the first meeting, and the second meeting shall be valid if attended by shareholders representing at least one quarter of the Company's capital.
General Assembly Meeting Agenda 1-Vote on the Board of Directors' report for the fiscal year ended 31 December 2021 (attached).

2- Vote on the Auditor's report for the fiscal year ended 31 December 2021 (attached).

3- Vote on the Audited financial statements for the fiscal year ended 31 December 2021 (attached).

4-Vote on absolving the Board members from liabilities for their activities pertain to management of the Company for the fiscal year ended 31 December 2021.

5-Vote on the appointment and determining fees of the external auditor for the Company from among the candidates on recommendation of the Audit Committee to examine, review and audit the Company’s financial statements for the second, third quarters and annual fiscal year of 2022, and the first quarter of fiscal year 2023 G.

6-Vote on the disbursement total amount of 2 million and nine hundred thousand Saudi riyals (2,900,000) as a bonus to the members of the Board of Directors for the fiscal year ended 31/12/2021.

7-Vote on the businesses that will be concluded between the Company and Najran Cement Company For the year 2022 in the expected amount of Three hundred thousand (300,000) Saudi riyals,for one year to sell cement, in which the Chairman of the Board of Directors, Engr. Mohammed Aballala, member of the Board of Directors, Engr. Ayman Al-Shibl and member of the Board of Directors, Mr. Abdulsalam Aldraibi, have direct interest in it, with same conditions and prices that Company follows with its other customers.(Attached)

8-vote on the related transactions that will take place between the company and the Najran Water Institution for the year 2022 in the expected amount of two hundred thousand Saudi riyals (200,000),for one year to sell water, in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it, with same conditions and prices that Company follows with its other customers.(Attached).

9- Voting on related transactions between the company and Arab Commercial Enterprises for Travel for the year 2022 in the expected amount of SAR (2,500,000) 2 million and five hundred thousand Saudi Riyals , for one year ,for travel services tickets and accommodation , in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it, with same conditions and prices that Company follows with its other customers. (Attached)

10-Voting on the related transactions that will take place between the company and the Najran Water Institution for the year 2021, in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it. During the year 2021, the value of the business amounted to fifty-three thousand One hundred thirty Saudi riyals (53, 130) for one year to sell water, and under prevailing commercial conditions. (attached)

11-Voting on the related transactions that will take place between the company and Arab Commercial Enterprises for Travel for the year 2021, for one year ,for travel services tickets and accommodation in which the member of the Board of Directors, Mr. Ibrahim Bin Musallam and member of the Board of Directors, Mr. Majed Bin Musallam, have direct interest in it. During the year 2021, the value of the business amounted to SAR 3,100,085 Three million hundred thousand and eighty five Saudi Riyals under the prevailing commercial conditions. (attached).

12-Vote on delegation of powers to the Board of Directors as stipulated in Paragraph (1) of Article 71 of the Companies Law, for a period of one year from the date of approval of The Assembly General or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the regulatory rules and procedures issued pursuant to the Companies Law ‘’ Listed joint stock companies’’ .

13-Vote on authorizing the Board of Directors to distribute interim dividends to shareholders on semi-annual or quarterly basis for the fiscal year 2022, and to determine the maturity and disbursement date as per the rules and regulations of the Company Law in line with Company’s financial position, cash flows, expansion, and investment plans.

14-Vote on the amendment to article Two of the Bylaws concerning the Company’s name. (attached).

15-Vote on the amendment to article Twenty-Four (24) of the company's Bylaws concerning the remuneration of the members of the Board of Directors. (attached)

16-Vote on the amendment to article Fifty (50) of the company's Bylaws concerning profit distribution.(Attached)

17- Vote on amending the Company's Governance Manual. (attached).

Proxy Form
E-Vote Shareholders registered on the Tadawulaty Services website can vote remotely on the assembly’s items starting from 10:00 AM on Wednesday 23/11/1443H, corresponding to 22/06/2022G until the end of the time of the assembly. We invite all the shareholders to participate and vote online through Tadawulaty website www.tadawulaty.com.sa

Note that registration and voting are available in Tadawulaty services free for all shareholders.

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 In the event of an inquiry, we hope to contact the Investor Relations Department Phone: +966 (0) 12 216 2699 , Ext. (108)/ (102) Or Al Masane Al Kobra Mining Co. (AMAK) – Investors Relations – PO BOX 46 Najran 55461 , Or through Email: ir@amak.com.sa
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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