July 26 .. “Takween” GA to discuss reducing capital to SR464.64 ‎million

Takween Advanced Industries Company “Takween” invited shareholders to participate and vote in the Extraordinary General Assembly meeting (first meeting), which is scheduled to be held on Wednesday, July 26, to discuss the following assembly agenda:

To vote on reducing the capital according to the following:

– The number of shares of the company before the reduction: Ninety-five million (95,000,000) ordinary shares.

– The number of shares of the company after the reduction: forty-six million four hundred and sixty-four thousand six hundred and six (46,464,606) ordinary shares

Reduction percentage: 51.09% of the company’s capital

– The reason for reducing the capital: to restructure the company’s capital by starting the capital reduction process to extinguish 99.99% of the total accumulated losses, and then increase the company’s capital.

Reduction method: Cancellation of forty-eight million five hundred and thirty-five thousand three hundred and ninety-four (48,535,394) shares of the issued shares of the company, at a rate of cancellation of (1) share for every (1.957) share.

– The effect of reducing the capital on the company’s obligations: There is no effect of reducing the company’s capital on its financial obligations.

– In the event that the item is approved, the reduction decision will be effective on the company’s shareholders who own shares on the day of the Extraordinary General Assembly and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depositary Center) at the end of the second trading day following the date of the meeting. The extraordinary general assembly in which it was decided to reduce the capital

– Voting on amending the company’s articles of association to comply with the new companies’ system, and rearranging the articles of the system and their numbering to comply with the proposed amendments.

– Amending Article Seven of the company’s bylaws, which is related to capital.

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

The third item: – Vote to amend the Audit Committee Regulations..

Each shareholder registered in the company’s shareholder register at the Edaa Center at the end of the trading session preceding the meeting of the General Assembly has the right to attend the meeting of the Assembly.

According to the laws and regulations, the meeting of the (extraordinary) general assembly is valid if attended by at least 50% of the shareholders.