SADAFCO Invites Shareholders to Vote on Buying 2.7 Million Shares as Treasury Shares

The Board of Directors of Saudia Dairy & Foodstuff Company (“SADAFCO”) has invited its shareholders to attend the Extraordinary General Assembly Meeting (First Meeting).

The meeting will be held on Monday 15-11-2021 at 18:30 in Jeddah at SADAFCO’s headquarter via modern technology means through the Tadawulaty system, in line with the precautionary measures initiated by the relevant authorities to limit the spread of the emerging Coronavirus (COVID-19).

Shareholders registered in the issuer’s shareholders registry in the depository centre at the end of the trading session preceding the General Assembly’s meeting as per laws and regulations.

The Extraordinary General Assembly Meeting (EGM) shall not be held unless attended by shareholders owning at least one-half of Share Capital.

If such quorum is not present, a second meeting shall be held after a lapse of an hour from the preceding meeting. The second meeting shall be deemed valid if attended by at least one-fourth of Share Capital.

General Assembly Meeting Agenda including voting on purchase of up to (2,749,750) company shares to be used as treasury shares, whereas the Board of Directors believes that the Company’s share price is less than its fair value.

Purchase of shares will be funded by the Company from its own resources, and authorizing the BOD to finalize the purchase transaction, in one or several stages, within a maximum period of twelve (12) months from the date of the Assembly’s approval, and to retain the purchased treasury shares for a maximum period of 5 years from the EGM approval date.

The shareholders registered in Tadawulaty services may vote remotely on the agenda of the Extraordinary General Assembly Meeting (EGM) starting at 10:00 AM on 11-11-2021 until the time the general assembly meeting ends.

The registration in Tadawulaty service and voting is provided free of charge for all shareholders through the (E-Voting) services at https://www.tadawulaty.com.sa.

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.