Jabal Omar Development Co. — Proxy Solicitation & Information Statement 2025

Apr 29, 2025

Jabal Omar Development Co. Board invites its shareholders to attend the Extraordinary General Assembly Meeting the (First Meeting)

4250 · 29/04/2025 15:51:06 · Announcement #86796 · View on Saudi Exchange

Jabal Omar Development Co. Board invites its shareholders to attend the Extraordinary General Assembly Meeting the (First Meeting)

Element List	Explanation
Introduction	The board of directors of Jabal Omar Development Company is pleased to invite the shareholders to attend the Extraordinary General Assembly Meeting (First Meeting) which is scheduled for 7:30 PM on Tuesday, 22-11-1446 corresponding to 20-5-2025 remotely through contemporary technology using Tadawulaty.
City and Location of the General Assembly's Meeting	Makkah - the company's headquarters- by Means of Modern Technology
Hyperlink of the Meeting Location	Click Here
Date of the General Assembly's Meeting	2025-05-20 Corresponding to 1446-11-22
Time of the General Assembly’s Meeting	19:30
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 Extraordinary general assembly meeting shall be valid if attended by shareholders representing 50% of the capital. If the quorum is not met in this meeting, a second meeting will be held one hour after the scheduled time of the first meeting. The second meeting will be valid if it is attended by a number of shareholders representing 25% of the capital.
General Assembly Meeting Agenda	1. Review and discuss on the Board of Directors Report for the fiscal year ended on 31 December 2024

2. Voting on External Auditor Report for the fiscal year ended on 31 December 2024

3. Review and discuss on the Financial Statements for the fiscal year ended on 31 December 2024

4. Voting on releasing the members of the Board of Directors from liability for the fiscal year ended on December 31, 2024

5. Voting on the participation of Board Member Eng. Saleh Habdan Alhabdan in a business competing with the company’s business (attached).

6. Voting on the participation of Board Member Mr. Abdulaziz Saud Altubayyeb in a business competing with the company’s business (attached).

7. Voting on the appointment of the company's auditor from among the candidates, based on the Audit Committee's recommendation, to examine, review, and audit the financial statements for the second, third quarters, and annual of fiscal year 2025, and up to the first quarter of fiscal year 2027, and to determine the auditor’s fees.

8. Voting on the payment of additional fees to the current external auditor KPMG, in the amount of 492,000 Saudi Riyal for the additional work that falls outside the previously agreed scope of work related to providing audit services to Jumeirah and Address hotels for the period from the second quarter of 2023 AD until the end of the first quarter of 2025 AD.

9. Voting on transferring the Statutory Reserve Balance amounting to 108,506,000 Saudi Riyal as per the Financial Statements for the year ended December 31, 2024 to Retained Earnings. Proxy Form The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right Shareholders are entitled to discuss matters listed in the agenda of the General Assembly and raise relevant questions to the Board members, noting that the voting is available free of charge for all Shareholders via: http://tadawulaty.com.sa Details of the electronic voting on the Assembly’s agenda The shareholders who are registered on the website of (Tadawulaty) electronic trading services can remotely vote on the items of the meeting through electronic voting service. The remote voting will start at 1 am on Friday, 18-11-1446 corresponding to 16-5-2025 and shall continue until the EGM is held. Please note that registration in Tadawulaty service and voting is provided free of charge for all shareholders through the following link: (www.tadawulaty.com.sa). Method of Communication in Case of Any Enquiries For any inquiries, please call 0125106100 Ex: 3201

Email: share-holder@jodc.com.sa Attached Documents  

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