January 24 … Jouf Water GA discusses recommendation of BOD to increase capital to SR46.87 mln

The Board of Directors of Al-Jouf Mineral Water Company invited the honorable shareholders to participate and vote in the Extra Ordinary General Assembly meeting (the first meeting), which is scheduled to be held through modern technology, on Tuesday 24-01-2023.
Meeting Agenda:
– To vote on the Board of Directors’ recommendation to increase the company’s capital by granting bonus shares to the company’s shareholders according to the following:
A – The total amount of the increase: SR15,625,000 (Fifteen million, six hundred and twenty-five thousand Saudi riyals).
B- The capital before the increase is SR31,250,000 (thirty-one million two hundred and fifty thousand Saudi riyals), and the capital after the increase becomes 46,875,000 (forty-six million eight hundred and seventy-five thousand Saudi riyals), i.e. an increase of 50%.
C- The number of shares before the capital increase: 3,125,000 shares, and the number of shares after the increase becomes 4,687,500 shares.
D- This recommendation aims to increase the capital to support and strengthen the company’s future activities.
E- The rate of increase: (1) share for every (2) outstanding shares.
F- The increase will be made by capitalizing an amount of (SR15,625,000) from the retained earnings.
G- Eligibility date: In the event that the clause is approved, the date of eligibility for the bonus shares will be for the company’s shareholders who own shares on the day of the Extraordinary General Assembly convening and 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 eligibility date.
H- In the event that there are fractional shares, the fractions will be collected in one portfolio and then sold in the market to all the shareholders, and its value will be distributed to the shareholders of the beneficiaries of the bonus, each according to his share within a period of 30 days from the date of completion of the allotment of the new shares.
i- Amending Article No. (7) of the company’s bylaws related to capital
J- Amending Article No. (8) of the company’s bylaws related to subscription to shares.
The registered shareholders in the Tadawulati services will be able to vote remotely on the items of the assembly starting from on Friday 20-01-2023 until the end of the time of the assembly.
The right to register attendance at the assembly meeting ends at the time of the assembly meeting, and the right to vote on the assembly’s articles for those present ends when the counting committee finishes counting the votes.