October 31.. “Abu Moati” GA to discuss splitting share nominal ‎value from 10 riyals to one riyal

The Board of Directors of Abdullah Saad Abu Muti Libraries Company invited shareholders to participate and vote in the Extraordinary General Assembly meeting (first meeting), which is scheduled to be held via modern technology at exactly six thirty in the evening on Tuesday, October 31, 2023.

Agenda:

1- Vote on dividing the company’s shares according to the following:

Nominal value of the share before adjustment: (10) riyals

The nominal value of the share after adjustment: (1) riyals

Number of shares before adjustment: 20 million shares

Number of shares after adjustment: 200 million shares

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

Effective date: If the clause is approved, the division decision will be effective on all the company’s shareholders who own shares on the day of the extraordinary general assembly and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the meeting. The extraordinary general assembly, and the effect of the decision will be applied to the share price starting from the business day following the meeting, provided that the decision is applied in relation to the number of shares in shareholders’ portfolios at the end of the second trading day following the date of the extraordinary general assembly in which it was decided. Stock split…

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

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

– Vote on amending the company’s bylaws to comply with the new companies’ bylaws, and rearranging the bylaws’ articles and numbering them to be compatible with the proposed amendments.

– Vote on transferring the balance of the statutory reserve amounting to (7,034,174) riyals, as in the financial statements for the year ending on 03/31/2023 AD, to retained earnings.

– Vote on amending the work regulations of the Audit Committee

– Vote on amending policies, standards and procedures for membership in the Board of Directors