Al-Jouf Agricultural GA discusses splitting share nominal value from SAR10 to SAR1

Al-Jouf Agricultural Development Co. announces to Invites its Shareholders to Attend the (Third Meeting) Extraordinary General Assembly Meeting.

The Board of Directors of Al-Jouf Agricultural Development Company is pleased to invite shareholders to participate and vote in the 11th Extraordinary General Assembly Meeting (the third meeting) scheduled to be held at 18:30 p.m. on Tuesday, 19-12-2023. The items included voting on the split of the share nominal value as follows:

– Nominal value of the share after amendment :(1) Saudi Riyals.

– Number of shares before amendment: 30,000,000 shares.

– Number of shares after amendment: 300,000,000 shares.

– There is no change in capital before and after the stock split.

– Effective Date: In the event of approval of the item, the split resolution will be effective on all the shareholders of the company who own the shares on the day of the extraordinary general assembly and who are registered in the company’s shareholders register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the extraordinary general assembly in which the shares were split.

– The effect of the resolution on the share price will be applied starting from the working day following the convening of the assembly, provided that the number of shares in the shareholders’ portfolios will be applied at the end of the second trading day following the date of the extraordinary general assembly in which the split of shares was decided.

The remaining items are as follows:

– Voting on the amendment on the company’s bylaws in accordance with the new companies’ bylaws and rearranging the articles of the bylaws and numbering them to be compatible with the proposed amendments (attached)

– Voting on the amendment on Article (3) of the company’s bylaws, related to the purposes of the company. (attached)

– Voting on the amendment on the Audit committee Policy. (attached)

– 4- Voting on the amendment on the Nomination and Remuneration Committee policy. (attached)

– Amending Article (7) of the Articles of Association related to (the company’s capital). (attached)

– Amending Article (8) of the Articles of Association related to (Subscription in Shares). (attached)