Waja GA Oks dividing share nominal value from 10 riyals to 50 ‎halalas

Waja announced to its shareholders the results of the Extraordinary General Assembly meeting (the first meeting), which was held at 20:15 pm on Monday, corresponding to June 19, 2023 AD, after the completion of the legal quorum for the validity of the meeting of the assembly.

Voting results:

– The report of the Board of Directors for the fiscal year ending on December 31, 2022 AD was reviewed and discussed.

– The company’s auditor’s report for the fiscal year ending on December 31, 2022 AD was approved after its discussion.

– The company’s financial statements for the fiscal year ending on December 31, 2022 AD were reviewed and discussed.

– Approval of the appointment of Al-Ayuti & Partners Company, certified public accountants, as the company’s auditor among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the first half of the fiscal year 2023 AD and the annual of the fiscal year 2023 AD and determine his fees.

– Approval of the discharge of the members of the Board of Directors from liability for the year ending on 12/31/2022 AD.

Approving the delegation of the Board of Directors with the powers of the Ordinary General Assembly, with the authorization contained in Paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of approval by the General Assembly or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with For the conditions stipulated in the executive regulations of the Companies Law for listed joint stock companies.

– Approval of the Board of Directors’ decision to appoint Sultan Ahmed Abdulaziz Al-Mousa – as a member of the Board of Directors (independent) starting from the date of his appointment on 05/14/2023 AD to complete the session of the Board until the date of the end of the current session on 03/22/2024 AD. Successor For the former member, Wael Ahmed Kamihan Al-Enezi – Executive member

Approval of the business and contracts concluded between the company and the Riyadh Window Company Limited – in which the Chairman of the Board of Directors, Ibrahim Abdullah Abdul Salam, has an indirect interest. These are works and services for one year in the amount of (5,663,684) riyals, debit transactions and an amount of (6,294). (.681) riyals are credit transactions, and the balance has reached (zero) at the end of the period

Approval of the business and contracts concluded between the company and the Water Treatment Works Company – in which the Chairman of the Board of Directors, Ibrahim Abdullah Abdul Salam, has a direct interest. It is a one-year financing with a value of (501,000) riyals, and the balance at the end of the period reached (501,000) riyals.

Approval of the business and contracts that took place between the company and the Chairman of the Board of Directors, in which he has a direct interest, which is Ibrahim Abdullah Abdul Salam, noting that the transactions during the fiscal year ending on December 31, 2022 AD are financing for a period of one year, with an amount of (3,319,750) riyals. Debit transactions, and the balance at the end of the period amounted to (116,986) riyals.

Approving the division of the company’s shares according to the following:

The nominal value of the share before the amendment: (10) riyals

The nominal value of the share after the amendment: (0.50) fifty halalas

The number of shares before the amendment: 3.5 million shares

Number of shares after modification: 70 million shares

There is no change in the company’s capital before and after the stock split

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

The effect of the decision will be applied to the share price starting from the working day following the assembly meeting, provided that the number of shares in shareholders’ portfolios will be applied at the end of the second trading day following the date of the extraordinary general assembly meeting in which it was decided to divide the shares.

– Amendment of Article No. (7) of the company’s bylaws related to the company’s capital

– Amendment of Article No. (8) of the company’s bylaws related to subscription to shares

– Approval of amending the company’s bylaws in line with the new companies’ by laws.