Ash-Sharqiyah Development Co. — Proxy Solicitation & Information Statement 2020

Feb 13, 2020

Asharqiyah Development Company invites its shareholders to attend the extraordinary general assembly meeting that includes increasing the company's capital (Third meeting)

6060 · 13/02/2020 15:29:08 · Announcement #57532 · View on Saudi Exchange

Asharqiyah Development Company invites its shareholders to attend the extraordinary general assembly meeting that includes increasing the company's capital (Third meeting)

Element List	Explanation
City and Location of the Extraordinary General Assembly's Meeting	Dammam - Al Nakheel King Khalid Bin Abdul Aziz Street Clock Tower Building
URL for the Meeting Location	https://goo.gl/maps/nfux1Nhnguy
Date of the Extraordinary General Assembly's Meeting	2020-03-08 Corresponding to 1441-07-13
Time of the Extraordinary General Assembly's Meeting	18:30
Attendance Eligibility	Each shareholder has the right to attend the General Assembly Meeting for shareholders registered with the Securities Depository Center (Edaa Center) at the end of the trading session prior to the General Assembly meeting and according to the rules and regulations .The registration will end upon the beginning of the General assembly meeting.

The shareholder may appoint another person who is not a member of the Board of Directors or a member of the Company to represent him at the meeting and vote on the subjects on the agenda. The power of attorney is attested by the Chambers of Commerce and Industry when the shareholder is affiliated with one of them or if the shareholder is a company or legal entity, Licensed Banks or Licensed Persons in the Kingdom provided that the Client has an account with the Bank, the authorized person who certifies, the notary public or the persons authorized to do the acts of authentication, provided that a copy of the power of attorney shall be sent to the Company at least two days before the Assembly on the company adders at Asharqiyah Head Office 2592 King Khalid Street, Unit No. 8 Dammam 7849-32244. Each shareholder or agent wishing to attend the meeting must bring with him the original identity and the original power of attorney and should be presented before the meeting time in order to process the registration procedures. Quorum for Convening the General Assembly's Meeting The third meeting of the extraordinary general assembly shall be valid and approved for who attended . Meeting Agenda (1) To vote on the recommendation of the Board of Directors to increase the company's capital from 75,000,000 Saudi riyals to 120,000,000 Saudi riyals for the purpose of acquiring two real estate assets in Riyadh, as follows:

- The nominal value of the company's capital before the increase is (75,000,000) Saudi riyals, and after the increase it will be (120,000,000) Saudi riyals.

- Number of shares before the increase (7,500,000) shares, and after the increase (12,000,000) shares.

- The percentage of new shares from the capital of asharqiyah Development Company after the acquisition is 37.5% (attached(.

(2) Voting on the company’s acquisition of two real estate assets in the city of Riyadh in the event of approval of the first item (attached).

(3) Voting on the amendment of Article (3) of the company's articles of association regarding the company's objectives (attached(.

(4) Voting on the amendment of Article (7) of the company's articles of association regarding the company's capital in the event of approval of the first item (attached(.

(5) Voting on the amendment of Article (8) of the articles of association of the company related to subscription in shares in the event of approval of the first item (attached). Proxy Form E-Vote The registered shareholders of the remote Voting Services ( Tadawulaty) will be able to vote on the agenda items starting from 10:00 am on Wednesday, 09/07/1441 H corresponding to 04/03/2020 until 4:00 pm on the day of the General Assembly Meeting. Voting on (Tadawulaty) is available to all shareholders using the following link:

www.tadawulaty.com.sa Eligibility for Attendance Registration and Voting Each shareholder has the right to attend the General Assembly Meeting for shareholders registered with the Securities Depository Center (Edaa Center) at the end of the trading session prior to the General Assembly meeting and according to the rules and regulations.The registration will end upon the beginning of the General assembly meeting.

The shareholder may appoint another person who is not a member of the Board of Directors or a member of the Company to represent him at the meeting and vote on the subjects on the agenda. The power of attorney is attested by the Chambers of Commerce and Industry when the shareholder is affiliated with one of them or if the shareholder is a company or legal entity, Licensed Banks or Licensed Persons in the Kingdom provided that the Client has an account with the Bank, the authorized person who certifies, the notary public or the persons authorized to do the acts of authentication, provided that a copy of the power of attorney shall be sent to the Company at least two days before the Assembly on the company adders at Asharqiyah Head Office 2592 King Khalid Street, Unit No. 8 Dammam 7849-32244. Each shareholder or agent wishing to attend the meeting must bring with him the original identity and the original power of attorney and should be presented before the meeting time in order to process the registration procedures. Method of Communication For inquiries, please call: 0138099439 EXT.44 or fax: 0138099438 Attached Documents           

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.