|Introduction||The Board of Directors of Tabuk Agricultural Development Company is pleased to invite its shareholders to participate and vote in the extraordinary general assembly meeting (No. 22) that includes increasing the capital of Tabuk Agricultural Development Company (the first meeting) that will be held at 06:30 PM Tuesday 25/07/1442H Corresponding 09/03/2021G, via modern technology, in support of the preventive efforts exerted by the relevant health authorities to address the novel Coronavirus (COVID-19), and as an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia in taking the necessary preventive measures to curb its spread.|
|City and Location of the Extraordinary General Assembly's Meeting||By means of modern technology |
at the Project of Tabuk Agri. Dev. Co.
|URL for the Meeting Location||https://www.tadawulaty.com.sa|
|Date of the Extraordinary General Assembly's Meeting||2021-03-09 Corresponding to 1442-07-25|
|Time of the Extraordinary General Assembly's Meeting||18:30|
|Attendance Eligibility||Shareholders Registered at the Edaa Center Registry at the End of the Trading Session Preceding the General Assembly Meeting can use the Electronic attendance registration and voting using the tadawulaty system at the assembly meeting and as per the Laws and Regulations.|
|Quorum for Convening the General Assembly's Meeting||The quorum for holding the Extraordinary General Assembly is the attendance of shareholders representing at least 50% of the Company’s capital as per the Company’s Articles of Association, If the required quorum has not been met, a second meeting will be held one hour after the end of the time decided for the first meeting. The second meeting shall be valid if attended by shareholders who represent at least (25%) of the Company's capital as per Article (32) of the Company’s Articles of Association.|
|Meeting Agenda||1- Voting for the recommendation of the company's BOD to increase the company's capital by offering priority rights issue according to the following: |
- Capital before the increase: Two hundred forty-one million seven hundred sixty-seven thousand (241,767,000) Saudi riyals.
- Capital after the increase: Three hundred ninety-one million seven hundred sixty-seven thousand (391,767,000) Saudi riyals.
- The total amount of the increase: One hundred fifty million (150,000,000) Saudi riyals.
- Number of shares before the increase: Twenty-four million one hundred seventy-six thousand seven hundred (24,176,700) shares.
- Number of shares after the increase: Thirty-nine million one hundred seventy-six thousand seven hundred (39,176,700) shares.
- The reason for the capital increase: The company aims to increase its capital by offering rights issue shares to spend it on operating and the agricultural plan (The agricultural plan consists in planting wheat seeds and fruits, and the operation is comprised in managing the agricultural process including operation and maintenance of equipment deployed for planting, harvesting, irrigation and transporting of crops) and to repay debts and loans of the company and to acquire income-generating real estate business.
- Method of Capital Increase: Offering and listing rights issue shares amounting to fifteen million (15,000,000) ordinary shares.
- Eligibility Date: In the event of approving this article, eligibility will be entitled for the shareholders who own shares that are registered in the company’s depository centre by the end of the next day after the extraordinary general assembly
- To amend the 7th Article of the Company’s bylaw related to the capital (attached).
2- Voting on the Board of Directors’s decision to appoint Mr. Khalid Abdulrahman Ali AlKhudairi (Independent member) to the Board of Directors, starting from the date of his appointment on 14/12/2020 AD, to complete the current Board session ending on 30/06/2021 AD to succeed the previous member Mr. Mohammad AbduAllah Abdul Aziz Al-Rajhi - Non-Executive Member - (CV attached).
|E-Vote||Shareholders registered in the Tadawulaty services will be able to vote remotely on the assembly’s articles starting from 10:00 am on Friday 21/07/1442H corresponding to 05/03/2021G until the end of the assembly’s meeting time. For all shareholders, registration and voting in the Tadawulaty services will be available and free of charge through the: https://www.tadawulaty.com.sa |
|Eligibility for Attendance Registration and Voting||Eligibility for registration for attending and Voting will end by the time at which the General Assembly Meeting is held. Furthermore, eligibility for Voting on the articles discussed in the meeting shall end by completion of Counting the votes through the vote verification Committee|
|Method of Communication||For inquiries about the EG meeting, please feel free to contact the Shareholder Relations Department via Phone number: 0144500000 Ext.103 Email: firstname.lastname@example.org|