Canadian Medical Center agrees to split share nominal value from SAR 10 to SAR one

The Canadian Medical Center Board of Directors is pleased to announce to its shareholders the results of the Extraordinary General Assembly meeting (First meeting). which was held at 07:30 PM on Tuesday, 20-06-2023G through modern technology.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1. Review and discuss the report of the Board of Directors for the fiscal year ending on 12/31/2022.

2. Approval on the auditor’s report for the fiscal year ending on December 31, 2022.

3. Review and discuss the audited financial statements for the fiscal year ending on 12/31/2022.

4. The approval of appointing the office of Dr. Muhammad Al-Omari and Partners as an external auditor from among the candidates based on the recommendation of the audit committee to examine, review, and audit the financial statements for the fiscal year 2023 and the first half of the fiscal year 2024, and determine their fees.

5. Approval on paying an amount of (SAR 185,000) as remuneration to the Board members for the fiscal year ending on 31-12-2022.

6. Approval to authorize the Board of Directors to distribute interim dividends, semi-annually, for the fiscal year 2023.

7. Approval on amending the company’s bylaw to comply with the new companies’ law and rearranging the articles of the system and numbering them to comply with the proposed amendments.

8. Approval on amending Article (3) of the articles of association regarding the company’s objectives.

9. Approval on amending Article (4) of the articles of association regarding participation and ownership in companies.

10. Approval on amending Article (10) of the articles of association regarding stock issuance.

11. Approval on amending Article (15) of the articles of association regarding the management of the company.

12. Approval on amending Article (19) of the articles of association regarding the compensation of board members.

13. Approval on amending Article (20) of the articles of association regarding the authority of the Chairman, Vice Chairman, CEO, and Secretary.

14. Approval on amending Article (37) of the articles of association regarding the formation of committees of the board.

15. Approval on deleting Articles (38-39-40) from the articles of association.

16. Approval on adding Article (40) to the articles of association regarding the authority of the auditors.

17. Approval on amending Article (43) of the articles of association regarding profit distribution.

18. Approval on the division of the company’s shares according to the following:

– The nominal value of the share before the amendment: (10) Saudi riyals.

– The nominal value of the share after the adjustment: (1) Saudi riyals.

– The number of shares before the amendment: 7,700,000 shares.

– Number of shares after modification: 77,000,000 shares.

– There is no change in the company’s capital before and after

the stock split. Effective date: If the clause is approved, the division decision will be effective for all shareholders of the company who own shares on the day of the extraordinary general assembly and are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the extraordinary general assembly.

The effect of the decision will be applied to the share price, starting from the business day following the meeting, provided that the decision will be implemented in relation to the number of shares in shareholders’ portfolios on the second trading day following the date of the extraordinary general assembly in which it was decided to divide the shares.

– Amending Article No. (7) of the company’s bylaws related to (the company’s capital).

– amending Article (8) of the articles of association regarding stock subscription.

19. Approval on amending the audit committee’s charter.