June 20 .. Thob Al-Aseel GA to discuss BOD recommendation to ‎divide share nominal value ‎

The Board of Directors of Thob Al-Aseel Company called on the shareholders to participate and vote in the extraordinary general assembly meeting of the company (the first meeting), which is scheduled to be held on Tuesday, June 20, where the items included voting on the division of the company’s shares according to the following:

The nominal value before the amendment is (10) riyals per share

The nominal value after adjustment is (1) riyals per share

The number of shares before the amendment (40,000,000) shares

The number of shares after the amendment is (400,000,000) shares

There is no change in the company’s capital before and after the shares are divided

Effective date: In the event that the clause is approved, the division decision will be effective for all shareholders of the company 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 (Edaa) at the end of the second trading day following the date of the convening. The extraordinary general assembly in which it was decided to divide the shares, and the effect of the decision will be applied to the share price starting from the working day following the meeting, provided that the number of shares in shareholders’ portfolios is applied at the end of trading on the second day following the date of the extraordinary general assembly in which the shares were divided

The remaining items on the assembly’s agenda are as follows:

1) View and discuss the report of the Board of Directors for the fiscal year ending on 12/31/2022.

2) Voting on the company’s auditor’s report for the fiscal year ending on 12/31/2022 AD.

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

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

5) To vote on appointing an auditor for the company from among the candidates, according to 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 and determine his fees.

6) To vote on the disbursement of an amount of (1,310,000) riyals as a reward for the members of the Board of Directors for the fiscal year ending on 12/31/2022 AD.

7) Vote to authorize the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2023 AD.

8) Voting on the business and contracts concluded between the company and the heirs of Abdullah Al-Jedaie, which belong to a member of the Board of Directors / Faisal bin Abdullah Al-Jedaie, a member of the Board of Directors Muhammad bin Abdullah Al-Jedaie, and a member of the Board of Directors / Abdul Rahman bin Abdullah Al-Jedaie, and they have a non-interest Directly represented by contracts for leasing a store and warehouses for a period of one year without preferential conditions, noting that the value of transactions for the fiscal year ending on 12/31/2022 AD is (1,822,210) riyals.

9) Voting on the business and contracts concluded between Al-Jedaie Textiles Company (a subsidiary of Thobe Al-Aseel Company) and the heirs of Abdullah Al-Jedaie, which belong to a member of the Board of Directors Faisal bin Abdullah Al-Jedaie, a member of the Board of Directors Muhammad bin Abdullah Al-Jedaie, and a member of the Board of Directors Mr. Abdul Al-Rahman bin Abdullah Al-Judaie, and they have an indirect interest represented by lease contracts for a warehouse in Jizan for a period of one year without preferential conditions, noting that the value of transactions for the fiscal year ending on 12/31/2022 AD is (60,000) riyals.

10) Voting on the business and contracts that took place between Al-Jedaie Textiles Company (a subsidiary of Thobe Al-Aseel Company) and a member of the Board of Directors, Muhammad bin Abdullah Al-Jedaie, and he has a direct interest represented in rental contracts for exhibitions in Al-Madinah Al-Munawwarah for a period of one year without preferential conditions, noting that the value of Transactions for the fiscal year ending on 12/31/2022 AD are (300,000) riyals.

– Amending Article (7) of the company’s bylaws related to (capital).

– Amendment of Article (8) of the company’s bylaws related to (subscription in shares).

11) To vote on amending the articles of association of the company in accordance with the new corporate law.

12) To vote on rearranging and numbering the articles of the company’s bylaws, to comply with the proposed amendments, if approved.