Media Center
June 5, 2024| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Arab Sea Company is pleased to invite the honorable shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held, God willing, at exactly 7:45 p.m. on Wednesday evening.26-06-2024 corresponding to 20-12-1445 through modern technology means |
| City and Location of the General Assembly’s Meeting | At the company’s headquarters in Riyadh, Al-Rayyan district – through modern technology means |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly’s Meeting | 2024-06-26 Corresponding to 1445-12-20 |
| Time of the General Assembly’s Meeting | 19:45 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | The right of attendance for shareholders registered in the issuer shareholders Register at Depository Center shall at the end of trading session preceding the general assembly meeting and in accordance with the rules and regulations The right to register attendance at the general assembly meeting ends at the time of the assembly, and the right to vote on the assembly’s items for those present ends when the sorting committee finishes counting votes. |
| Quorum for Convening the General Assembly’s Meeting | The Ordinary General Assembly meeting will be valid if it is attended by shareholders representing (at least a quarter of the capital), and if the quorum required to hold this meeting is not available, the second meeting will be held one hour after the end of the period specified for holding the first meeting, and the second meeting will be valid (regardless of the number of shares). represented in it |
| General Assembly Meeting Agenda | 1. View and discuss the report of the Board of Directors for the fiscal year ending on 31-12-2023 (attached) 2. voting on the company’s auditor’s report for the fiscal year ending on the 31-12-2023 A.D after discussing it (attached) 3. View and discuss consolidated financial statements for the fiscal year ending on 31-12-2023 AD (attached) 4. voting to absolve the members of the Board of Directors from liability for the fiscal year ending on 31-12-2023 AD. 5. voting on appointing the company’s auditor among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third quarters and annual of the year 2024 AD and the first quarter of the year 2025 AD and determine his fees. (attached) 6. voting on disbursing an amount of 911,300 SR as a reward to the members of the Board of Directors for the fiscal year ending on 31-12-2023AD 7. Voting on the business and contracts that will take a place between the company and the member of the Board of Directors, Mr. Mohammed Saleh Al-Suhaibani(a direct interest) and the member of the Board of Directors Mr. Haitham Mohammed Al-Suhaibani,( indirect interest) which is represented in the purchase of an office tower consisting of 23 floors with a total area of 6,510 square meters located in the north of the city of Riyadh in Al-Sahafa District, to be a headquarters for the company and its subsidiaries, at a value of 59 million Saudi riyals Not including real estate transaction tax. it will be installment over a period of ten calendar years in equal annual installments in accordance with the prevailing regulatory conditions without any preferential conditions. (attached) |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | The shareholders are entitled to discuss items of the agenda of the general assembly and raise relevant questions to the board members, noting that the voting is available for free for all shareholders via: (www.tadawulaty.com.sa) |
| Details of the electronic voting on the Assembly’s agenda | Shareholders who are registered in Tadawulaty services can remotely vote on the items of the assembly, starting from one o’clock in the morning on Saturday 22/06/2024 AD corresponding to 16/12/1445 AH, until the end of the time of the assembly. Registration and voting are free of charge and will be available through the electronic voting service following the below link: (www.tadawulaty.com.sa) |
| Method of Communication in Case of Any Enquiries | 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 | |
كل عام والسعودية تُعانق السماء مجدًا وطموح وإزدهار اللهم ادم علينا الامن والامان والرخاء واحفظ هذه البلاد وقادتها من كل سوء
