June 4 .. Saudi “Advanced” to discuss BOD recommendation to ‎distribute SR30 mln cash dividends for 2022‎

The Board of Directors of the Saudi Advanced Industries Company called on shareholders to participate and vote in the Ordinary General Assembly meeting (the first and second meeting an hour after the first), which is scheduled to be held through modern technology, on Sunday, corresponding to June 4, 2023 AD, at (07:00) evening.

Agenda:

– Reviewing and discussing the report of the Board of Directors for the fiscal year ending on 12/31/2022.

– Reviewing and discussing the financial statements for the fiscal year ending on 12/31/2022.

– Voting on the report (auditor) of the company’s accounts for the fiscal year ending on 12/31/2022 AD.

– Voting to absolve the members of the Board of Directors from liability for the fiscal year ending on 12/31/2022 AD.

– To vote on the appointment of the auditor (auditor) of the company from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements for the (second, third and annual) quarters of the fiscal year 2023 AD and the first quarter of the fiscal year 2024 AD and determine his fees.

– To vote on the Board of Directors’ recommendation to distribute cash dividends in the amount of (30) million riyals to shareholders for the financial period ending on 31/12/2022 AD, at a percentage of (5%) of the nominal value of the share, at the rate of (0.50) riyals per share. For the number of (60) million shares, provided that the eligibility is for the shareholders who own shares at the end of trading on the day of the General Assembly convening and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, the date will be announced Distribution of profits later

– To vote on the decision of the Board of Directors to appoint Faisal Abdullah Al-Mashouh as an (independent) member of the Board of Directors, starting from the date of his appointment on 01/08/2023 AD to complete the session of the Council until the end date of the current session 05-30-2025 AD, to succeed the resigned member, Mr. Yazid Khaled Al-Shathry Member (non-executive).

– To vote on the decision of the Board of Directors to appoint Eng. Ahmed Abdul Rahman Al-Rabeeah as an (independent) member of the Board of Directors, starting from the date of his appointment on 01/08/2023 AD to complete the session of the Board until the end date of the current session 05-30-2025 AD, to succeed the resigned member, Professor Bader Khaled Al-Shathry Member (non-executive).

The legal quorum for the Ordinary General Assembly meeting is the presence of shareholders representing at least (25%) of the company’s capital, and if this quorum is not available in the first meeting, the second meeting will be held an hour after the expiry of the time limit set for the first meeting and it will be valid Whatever the number of shares represented in it

Each shareholder registered in the issuer’s shareholder register at the Depository Center has the right to attend at the end of the trading session that precedes the meeting of the General Assembly, according to the rules and regulations, and the shareholders have the right to discuss the topics on the agenda of the assembly and direct their inquiries.

Shareholders registered on the Tadawulaty services website can view the items of the Ordinary General Assembly meeting, knowing that electronic voting starts from 1 am on Wednesday, corresponding to 05/31/2023 AD, until the end of the assembly time.