| Introduction | Al Kathiri Holding Company announces the results of the extraordinary general assembly meeting (the first meeting), which was held at exactly 6:30 pm on Monday 18-02-1442 AH corresponding to 05-10- 2020 AD at the company’s headquarters (in Riyadh) – by means of modern technology using the system of trading ; And that after completing the required quorum for the meeting, which is 50% of the company’s capital, and an attendance rate (remote voting) amounted to 62.29% of the capital. |
| City and Location of the Extraordinary General Assembly’s Meeting | The association was held remotely through modern technology means based on the circular issued by the Capital Market Authority, which includes the sufficiency of holding general assemblies through modern technology means that enable shareholders to participate in their deliberations and vote on their agenda remotely within the framework of supporting efforts and preventive and precautionary measures from the authorities Competent and relevant to deal with the corona virus (Covid-19) |
| Date of the Extraordinary General Assembly’s Meeting | 2020-10-05 Corresponding to 1442-02-18 |
| Time of the Extraordinary General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 62.29 % |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | The following Alkathiri Holding Board members attended the meeting:1 – Mr. Rayed Mohammed Nasser Alkathiri (Chairman )2- Mr. Adel Ibrahim Mohammed Alkathiri (Vice Chairman and Member of the Board)3 – Mr. Meshal Mohammed Nasser Alkathiri (Managing Director and Chief Executive Officer)4 – Mr. Saud Mohammed Abdullah Al Shraim (Member of the Board ) |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Names of Those Attending on their Behalf | The following Alkathiri Holding Board members attended the meeting:1 – Mr. Saud Mohammed Abdullah Al Shraim ( Chairman of Nominations and Remuneration Committee)2 – Mr. Maher Nizam Barghouti (Chairman of the Audit Committee) |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1. Approved for the Board of Directors ’recommendation to increase the company’s capital by way of priority rights, according to the following:A- The company’s capital before the increase is (45,208,800) SR, divided into (4,520,880) ordinary shares.B- The company’s capital after the increase is (90,417,600) SR, divided into (9,041,760) ordinary shares.C- The total amount of the increase is (45,208,800) SR.D- The reason for the capital increase: Supporting the expansion of the company’s activity and providing working capital that enables the company to increase its operational capacity and support its future activities.C- Capital increase method: The offering and listing of priority rights shares for (4,520,880) ordinary shares.H- Eligibility Date: In the event that the company’s shareholders in the extraordinary general meeting agreed to increase the capital, all the shareholders of the company registered in the company’s records at the Securities Depository Center (Depository Center) will be eligible at the end of the second trading day following the convening of the extraordinary general assembly in which it was decided. Capital increase.G- Approved the amendment of Article No. (7) of the company’s articles of association, relating to (capital).D- Approved amending Article No. (8) of the Company’s Articles of Association, relating to (subscribing to shares).2. Approved to amend Article No. (1) of the company’s articles of association, relating to (incorporation).3. Approved to add an article to the companies ’articles of association No. (14) related to (Issuing debt instruments and instruments).4. Approved to add an article to the companies ’articles of association No. (15) related to (the company’s purchase of its shares and mortgaging them).5. Approved on the amendment of Article No. (54) of the company’s articles of association, relating to (Enforcement).6. Approved to amend Article No. (55) of the company’s articles of association, relating to (deposit and publication).7. Approved on rearranging the articles of the company’s articles of association and numbering them; To comply with the proposed amendments in the above clauses (3&4&5&6). |
