Fawaz Alhokair GA to discuss 45.3% capital reduction

The Board of Directors of Fawaz Abdulaziz Alhokair Co. is pleased to invite its valued shareholders to participate and vote in the Extraordinary General Assembly meeting (the first meeting), which is scheduled to be held at 8:30 pm on Wednesday 30/11/1443H corresponding to 29/6/2022G through modern technical means using the Tadawulaty system.

Shareholders registered on the Company’s Shareholder Registry in the Depository Centre at the end of the trading session preceding the General Assembly meeting has the right to attend the Extraordinary General Assembly as per the Laws and Regulations.

Meeting Agenda:

1. Vote on the Board’s recommendation to reduce the Company’s capital as follows:

– The Company’s capital before the reduction: 2,100,000,000 SAR

– The Company’s capital after the reduction: 1,147,664,480 SAR

– Number of shares before reduction: 210,000,000 shares

– Number of shares after reduction: 114,766,448 shares

– Reduction rate: 45.3% of the Company’s capital

– The reason for the capital reduction: to restructure the capital and extinguish 100.0% of accumulated losses as of December 31, 2021, with a value of 952,335,520 SAR

– Capital reduction method: cancellation of 95,233,552 shares of the Company’s shares, i.e. cancellation of 1 share for every 2.205 shares

– Reduction date: At the end of the second trading day following the date of the Extraordinary General Assembly in which it was decided to reduce capital

– Impact of capital reduction on the Company’s obligations: there is no impact of reducing the Company’s capital on its financial obligations

– Vote on the amendment of article (7) of the Company’s Bylaws, relating to the Company’s Capital (attached)

1. Vote on the amendment of article (3) of the Company’s Bylaws, relating to the Company’s Purposes (attached).
2. Vote on the amendment of article (8) of the Company’s Bylaws, relating to the Subscription in Shares (attached)
3. Vote on the amendment of article (29) of the Company’s Bylaws, relating to the General Assemblies Invitation.
4. Vote on the amendment of article (40) of the Company’s Bylaws, relating to the Committee’s Reports
5. Vote on the amendment of article (44) of the Company’s Bylaws, relating to the Financial Documents.