AICTEC GA approves capital increase to 25%‎

Through modern technology, from the company’s headquarters in Riyadh, located on King Fahd Road – in Al-Tamimi Complex – opposite Al-Faisaliah Building.

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

1- Approval of the Board of Directors’ recommendation regarding the increase of the company’s capital by granting free shares to the company’s shareholders according to the following:

A- Increasing the company’s capital from (20,000,000) twenty million Saudi riyals to (25,000,000) twenty-five million Saudi riyals with an increase in capital (25%), and increasing the number of shares from (2,000,000) two million Shares to (2,500,000) two million and five hundred thousand shares, and this increase is covered by capitalizing an amount of (5,000,000) five million Saudi riyals from the retained earnings account, provided that (1) free shares are granted to each shareholder who owns (4) ) Four shares and the reasons for the increase to support the financial position of the company and the needs and aspirations of future expansions

In the event of approval of the item, the date of eligibility of the bonus shares for the company’s shareholders who own the shares will be on the day of the extraordinary general assembly 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

In the event of fractional shares, they will be collected in one portfolio for all shareholders, and sold at the market price, then their value will be distributed to the shareholders entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.

b- Amending Article (7) of the company’s articles of association, which is related to the capital. (attached)

C- Amending Article (8) of the company’s articles of association related to subscribing to shares. (attached)

Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees         1- Mr. Abdullah Muhammad Abdullah Al Shuraim – Chairman of the Board of Directors

2- Mr. Mishaal Muhammad Nasser Al Kathiri – Vice Chairman of the Board of Directors

3- Mr. Saud Muhammad Abdullah Al Shuraim – Managing Director and Chief Executive Officer

4- Mr. Ahmed Nasser Ahmed Al-Sayegh – Member of the Board of Directors