May 9 .. “Solutions” GA to discuss BOD recommendation to ‎distribute SR595 mln cash dividends for 2022‎

The Board of Directors of the Arabian Internet and Communications Services Company (Solutions by stc) called on the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which is scheduled to be held on 05-09-2023, by means of modern technology using the Tadawulaty system.

Agenda:

– Reviewing and discussing the report of the Board of Directors for the fiscal year ending on 12/31/2022 AD.

– Voting on the company’s auditor’s report for the fiscal year ending on 12/31/2022 AD, after discussing it.

– Reviewing and discussing the financial statements for the fiscal year ending on 12/31/2022 AD.

– Voting on the disbursement of an amount of 3,889,178 Saudi riyals as a reward for the members of the Board of Directors for the fiscal year ending on 12/31/2022 AD.

– Voting to absolve the members of the Board of Directors from liability for the fiscal year ending on 12/31/2022 AD.

– To vote on appointing the auditor of the company from among the candidates based on the recommendation of the audit committee, in order to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2023 AD, and the first quarter of the fiscal year 2024 AD. Determine his fees

– To vote on the Board of Directors’ recommendation to distribute cash dividends for the year 2022, at 5 riyals per share, which represents 50% of the share’s nominal value, with a total amount of 594.9 million Saudi riyals, provided that the eligibility is for shareholders who own shares on the day of the assembly. Those registered in the company’s shareholder register at the Securities Depository Center (Depository Center) at the end of the second trading day following the due date, and the distribution date will be announced later.

And according to Article (34) of the company’s bylaws, the legal quorum for holding the company’s ordinary general assembly meeting is the presence of shareholders representing at least (50%) of the capital, and in the event that the quorum is not complete, a second meeting will be held an hour after The expiration of the period specified for the first meeting, and in all cases the second meeting is valid regardless of the number of shares represented in it.

Each shareholder registered in the issuer’s shareholder register at the Depository Center has the right to attend at the end of the trading session that precedes the meeting of the General Assembly, according to the rules and regulations.

Shareholders registered in Tadawulaty services can vote remotely on the agenda items of the Ordinary General Assembly, starting from 1:00 am on 05/05/2023 AD, until the end of the Ordinary General Assembly convening time.