Arriyadh Development Co. — AGM Information 2024

Apr 1, 2024

Arriyadh Development Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the ( First Meeting )

4150 · 01/04/2024 15:38:59 · Announcement #79228 · View on Saudi Exchange

Arriyadh Development Co. Board invites its shareholders to attend the Ordinary General Assembly Meeting the ( First Meeting )

Element List	Explanation
Introduction	The Board of Directors of Riyadh Development Company is pleased to invite the esteemed shareholders to participate and vote in the Ordinary General Assembly meeting (first meeting), which is scheduled to be held through modern technological means, God willing, at exactly six thirty in the evening on Tuesday, Shawwal 14, 1445 AH, corresponding to April 23, 2024 AD.
City and Location of the General Assembly's Meeting	Riyadh - By using modern technology from the company's headquarters
Hyperlink of the Meeting Location	Click Here
Date of the General Assembly's Meeting	2024-04-23 Corresponding to 1445-10-14
Time of the General Assembly’s Meeting	18:30
Methodology of Convening the General Assembly’s Meeting	Via modern technology means
Attendance Eligibility, Registration Eligibility, and Voting End	Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee.
Quorum for Convening the General Assembly's Meeting	The ordinary general assembly meeting will be valid if it is attended by shareholders representing at least a quarter of the capital. If the quorum required to hold this meeting is not available, the second meeting will be held one hour after the end of the period specified for holding the first meeting. The second meeting will be valid regardless of the number of shares represented in it.
General Assembly Meeting Agenda	1- Reviewing the Board of Directors’ report for the financial year ending on 12/31/2023 AD and discussing it.

2- Voting on the company’s auditor’s report for the financial year ending on 12/31/2023 AD and discussing it.

3- Review the financial statements for the fiscal year ending on 12/31/2023 AD and discuss them.

4- Vote on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements for the (second and third) and annual quarters of the fiscal year 2024 AD, and the first quarter of the fiscal year 2025 AD, and determine his fees.

5- Vote on discharging the members of the Board of Directors from their liabilities for the fiscal year ending on 12/31/2023 AD.

6- Vote on disbursing an amount of 1,800,000 riyals as a reward to members of the Board of Directors for the financial year ending on 12/31/2023 AD.

7- Vote on the Board of Directors’ recommendation to distribute cash dividends amounting to 0.25 riyals/share to the company’s shareholders for the second half of 2023, in addition to 0.25 riyals/share as an exceptional distribution as a result of selling part of the company’s lands available for sale, with the total distributed becoming 0.50 riyals/share. Which represents (5%) of the nominal value of one share in the amount of (88,888,888.50) Saudi riyals, provided that the eligibility is for the shareholders who own the shares at the end of trading on the day of the General Assembly and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second day. Trading follows the maturity date, and the dividend distribution date will be announced later.

8- Vote on authorizing the Board of Directors to distribute interim dividends on a semi-/quarterly basis for the fiscal year 2024.

9- Voting on the Board of Directors’ decision to appoint Mr. Abdul Rahman bin Ayed Al-Qahtani as a non-executive member of the Board of Directors, starting from the date of his appointment, 12-24-2023 AD, to complete the Board’s session until the end of the current session on 06-24-2025 AD, to succeed the resigned member, Engineer / Ali bin Abdullah. Al-Hassoun (non-executive member). (CV attached). Proxy Form The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right Every shareholder has the right to discuss the topics included in the General Assembly’s agenda and direct questions regarding them to the members of the Board of Directors and the auditor Details of the electronic voting on the Assembly’s agenda Shareholders registered on the Tadawulati electronic services website will be able to vote remotely on the assembly’s items through the (electronic voting) service, which will start from one o’clock in the morning on Saturday, 10/11/1445 AH, corresponding to 04/20/2024 AD, until the end of the assembly’s meeting time. Registration and voting in Tadawulaty services will be available and free to all shareholders using the following link: www.tadawulaty.com.sa Method of Communication in Case of Any Enquiries If you have any questions, we hope to contact the Shareholder Affairs Department at:

Phone: 011-4110333 ext. 1103 Attached Documents     

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