|Introduction||The Board of Directors of the Arab Sea Company is pleased to invite the honorable shareholders to participate and vote in the Extraordinary General Assembly meeting (the first meeting), which is scheduled to be held through modern technology, God willing, at exactly 7:00 pm on Wednesday 13/09/2023 corresponding to 28/02/1445|
|City and Location of the General Assembly’s Meeting||At the company’s headquarters in Riyadh, Al-Rayyan district – through modern technology|
|URL for the Meeting Location||https://www.tadawulaty.com.sa|
|Date of the General Assembly’s Meeting||2023-09-13 Corresponding to 1445-02-28|
|Time of the General Assembly’s Meeting||19:00|
|Attendance Eligibility||Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations.|
|Quorum for Convening the General Assembly’s Meeting||The legal quorum for the Extraordinary General Assembly meeting is the attendance of shareholders representing at least (50%) of the company’s capital, and if this quorum is not available in the first meeting, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting will be valid if It was attended by a number of shareholders representing at least (25%) of the company’s capital.|
|General Assembly Meeting Agenda||1. To vote on electing the members of the Board of Directors from among the candidates for the next session , which starts from 17/09/2023 AD and lasts for three years, ending on 16/09/2026 AD. (CVs of candidates are attached) |
2. To vote on splitting the nominal value of the share according to the following:
-The nominal value of the share before the amendment: (10) Saudi riyals.
– The nominal value of the share after the adjustment: (1) Saudi riyals.
– The number of shares before the amendment: 10,000,000 shares.
-The number of shares after the amendment: 100,000,000 shares.
– There is no change in the capital before and after the stock split.
-The effective date: In the event that the clause is approved, the split decision will be effective for all shareholders of the company who own shares on the day of the extraordinary general assembly and are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the general assembly. That decided shares are split.
The effect of the decision will be applied to the share price starting from the working day following the meeting, provided that the number of shares in shareholders’ portfolios will be applied at the end of the second trading day following the date of the Extraordinary General Assembly in which it was decided to split the shares.
– Amending Article (7) of the bylaws related to the company’s capital. (attached)
– Amendment of Article (8) of the Bylaws related to subscription to shares. (attached)
3. To vote on amending the company’s bylaws in line with the new companies’ bylaws. (attached)
|The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any)||Shareholders have the right to discuss the topics on the assembly’s agenda and ask questions |
Shareholders registered in Tadawulaty services will be able to vote remotely on the items of the assembly, starting from one o’clock in the morning on Saturday 24/02/1445, corresponding to 09/09/2023, until the end of the time of the assembly. Registration and voting in Tadawulaty services will be available and free for all shareholders using Next link
|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||To answer your inquiries, please contact the Shareholders Relations Department via phone number 920000559 or number 0114964444 ext. 111 |
Or via e-mail: IR@arabsea.com
|Additional Information||Remote voting will be sufficient|
|Attached Documents|| |