Al-Riyadh Development GA Votes on Shareholders Request making up more than 5%, distributing SR88.8 mln of retained profits

The Board of Directors of Al-Riyadh Development Company invited the honourable shareholders to participate and Votes on shareholders request making up more than 5% of capital, distributing SR88.8 mln of retained profits in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held by means of modern technology on Wednesday June 29, 2022.

General Assembly Meeting Agenda:

1- Vote on the formation of the Audit Committee for the new session, starting from the date of the assembly’s convening 29-09-6-2022 until the end of the session on 24-06-2025, and on its tasks, work regulations and remunerations for its members, and the candidates are:

1) Mr. Suleiman bin Nasser Al Hatlan Al-Qahtani.

2) Mr. Nayef bin Ibrahim Al-Hadithi.

3) Mr. Ahmed bin Abdullah Al-Kanhal.

4) Mr. Saleh bin Moqbel Al-Khalaf.

2- To vote on the request of shareholders who make up more than 5% of the company’s capital to distribute cash dividends to shareholders from the balance of the retained earnings in the amount of (SR88,888,888.5) at (SR0.50) per share, which represents (5%) of the nominal value per share, The eligibility is for the shareholders who own shares at the end of trading on the day of the general assembly meeting and who are registered in the company’s shareholders register with the Securities Depository Centre Company (Depository Centre) at the end of the second trading day following the due date, and the dividend distribution date will be announced later.

The registered shareholders in the Tadawulaty services will be able to vote remotely on the items of the assembly starting from ten in the morning on Sunday June 26, 2022 until the end of the time of the Assembly.

The 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.