SNS GA to vote on distributing cash dividends to shareholders ‎for H1 on Sep 9th ‎

The Board of Directors of Saudi NetWorks Services Company extended an invitation to shareholders to participate and vote in the Ordinary General Assembly meeting (first meeting), which is scheduled to be held via modern technology on September 9, 2023.

The company explained in a statement on Tadawul that the assembly’s terms are to vote on the Board of Directors’ recommendation to distribute cash dividends in the amount of 12 million riyals to shareholders for the first half of the fiscal year 2023, at two riyals per share, with the eligibility being for shareholders who own the shares at the end of trading. The day of the General Assembly and those registered in the company’s shareholder register at the Securities Depository Center Company (Depository Centre) at the end of the second trading day following the due date, where the dividend distribution date will be announced later.

It added, “For shareholders registered in the register of shareholders of the issuer at the Depository Center at the end of the trading session that precedes the General Assembly meeting and in accordance with the rules and regulations. The shareholder has the right to delegate whomever he chooses from other than members of the Board of Directors.”

The meeting will not be valid unless it is attended by shareholders representing at least half of the capital. If the quorum necessary for its holding is not met, the second meeting will be held one hour after the end of the period specified for holding the first meeting. In all cases, the second meeting will be valid regardless of the number. The shares represented therein

Shareholders registered in Tadawulati services can vote electronically remotely on the items of the Ordinary General Assembly meeting, starting from one o’clock in the morning on October 6, 2023 until the end of the Ordinary General Assembly meeting time.