The Board of Directors of Al Samaani Metallurgical Industries Company is pleased to invite shareholders to attend the Extraordinary General Assembly Meeting (First Meeting), scheduled to be held at 6:30 pm on Wednesday, 11/04/2018 at the company’s headquarters. At its factory in the first industrial city, Buriydah city, Al-Qassim Province (meeting site link https://goo.gl/maps/AhHDup9mYN22).
To discuss the following agenda:
1 – Vote on the report of the auditor of the company for the financial year ended 31/12/2017.
2 – To vote on the financial statements for the financial year ended 31/12/2017.
3 – Vote on the report of the Board of Directors for the financial year ended 31/12/2017.
4 – Vote on the appointment of a financial auditor for the company from among the candidates up on audit Committee recommendation in order to examine, review and audit the financial statements for the first, second, third, fourth and annual for the current year 2018, and determine his fees.
5 – Vote on the discharge of the Board of Directors members for the financial year ended on 31/12/2017.
6 – Vote on Board of Directors recommendation to distribute cash dividends to the shareholders of the Company for the financial year 2017, with value of SR 1,687,500 as (SR 1.5) per share representing 15% of the nominal value per share. The right to dividends will be attributable to the shareholders of the Company who own the shares and are listed on the Company’s shareholders register at the Depository Center at the end of the second trading day following the date of the general assembly meeting of the company and the date of the distribution of profits will be announced later.
7- To vote on the Board of Directors’ mandate to distribute interim cash dividends to the shareholders for the financial year 2018, specifying the eligibility and distribution dates according to the regulatory controls and procedures issued by the Capital Market Authority.
8 – To vote on the recommendation of the Board of Directors to increase the share capital by granting bonus shares to the shareholders by one free share for every three shares owned and an increase percentage of 33.33%. The capital of the company before the increase is SR 11,250,000 and its capital after the increase will be SR 15,000,000. The increase will be 1,125,000 shares and the number of its issued shares after the increase will be 1,500,000 shares. The capital increase will be capitalized by RO 3,750,000 from the retained earnings account. The date of entitlement of the bonus shares to shareholders of the company holding the shares registered in the Company’s shareholders register will be at the end of the second day Ted The first date of the general meeting of the company, in the event of fractures of shares will be collected in one portfolio for all shareholders and sold at market price and then will be distributed to the shareholders eligible for the grant each according to its share within a period not exceeding 30 days from the date of determining the shares due to each shareholder.
9 – Vote to amend the text of Article 7 of the Company’s Articles of Association relating to capital to conform to the proposed increase in the Company’s capital (attached).
10 – Vote on the amendment of the text of Article 8 of the Company’s Articles of Association relating to capital to conform to the proposed increase in the Company’s capital (attached).
11 – Vote on the amendment of the text of Article 46 of the Company’s Articles of Association relating to the distribution of profits.
The attendance of a number of shareholders shall be deemed to be valid for half of the company’s capital. In case of non-completion of the quorum required for the first meeting, the second meeting shall be held one hour after the period specified for the beginning of the first meeting. The second meeting shall be valid if attended by a number of shareholders representing a quarter of the capital. The third meeting is not valid. The third meeting shall be valid regardless of the number of shares represented therein. The Board of Directors shall direct the shareholders’ attention to the fact that each shareholder has the right to attend the General Assembly meeting of the shareholders registered in the register. The shareholders of the company at the Securities Depository Center Company (Depository Centre) will be able to cast their votes remotely on the items of the Extraordinary General Assembly Meeting through the electronic voting service, without the need to appoint an agent. To attend this meeting, noting that the electronic voting will be opened on the agenda items on 09/04/2018 at 10:00 am. The vote will end on 11/4/2018 at 4:00 pm. Shareholders registered in the website (Www.tadawulaty.com.sa). Registration for my trading services and voting is available free of charge to all shareholders. The shareholder who is not able to attend the meeting is entitled to appoint another person from the shareholders of the company or from And other than the members of the Board of Directors, and other than the employees of the company, or those assigned by them to perform technical or administrative work, and requires the validity of the power of attorney to be in writing, and include the name of the agent quadruple, and be certified by the Chamber of Commerce, , Or notaries, or persons authorized to do so, provided that a copy is sent The power of attorney is accompanied by a copy of the identity card or commercial register at the company’s headquarters at least two days before the meeting. It is sent to the company’s e-mail: firstname.lastname@example.org or fax 0114536133 with the need to bring the shareholders to the meeting (authenticity or agency) or passport to non-Saudis and the origin of the power of attorney.
For further information or inquiries, please contact the company by telephone at 0112416262 or the unified number 920002429.