Al Yamamah Assembly Authorizes BOD to Distribute Interim Dividends for 2022

The Board of Directors of Al Yamamah Steel Industries Company announced on Monday the invitation of the honorable shareholders to participate and vote in the General Assembly Meeting (First Meeting) scheduled to be held on Monday 14.02.2022 at 6:30 pm, via modern technology means.

Al Yamamah added that this is to support preventive and precautionary efforts and measures by the competent and relevant health authorities to address the emerging corona virus (COVID-19) and as an extension to the continuous efforts of all government agencies in the Kingdom of Saudi Arabia in taking the necessary preventive measures to prevent its spread- to discuss and vote on the attached agenda:

The company indicated that the 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 company added that the Ordinary General Assembly meeting will be valid if attended by shareholders representing at least a quarter of the capital. If the quorum required for holding this meeting is not achieved, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting will be valid regardless of the number of shares represented in it.

The company also added that voting on authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2022.

Shareholders registered in Tadawulaty services will be able to vote remotely on the assembly’s items, starting on Thursday 10.02.2022 at 10 am until the end of the Ordinary General Assembly time.

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, the company concluded.