Arriyadh Development GA to vote on distribute SR88.8 mln of retained earnings

The Board of Directors of Al-Riyadh Development Company is pleased to invite the honorable shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held by means of modern technology, God Almighty, at exactly eight o’clock in the evening on Wednesday 30 Dhul Qi’dah 1443 AH corresponding to June 29, 2022 AD.

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 06-29-2022 AD until the end of the session on 06-24-2025 AD, and on its tasks, work regulations and remunerations for its members, and the candidates are (CV attached):

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 (88,888,888.5) Saudi riyals at (0.50) riyals 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 Center Company (Depository Center) at the end of the second trading day following the due date, and the dividend distribution date will be announced later.

According to Article 30 of the Company’s Articles of Association, the Ordinary General Assembly meeting is valid if attended by shareholders representing at least a quarter of the capital, and if the mandatory quorum for holding this meeting is not available, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting is valid Whatever the number of shares represented in it.

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.

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.