Makkah Construction and Development Co. — AGM Information 2025

Apr 28, 2025

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

4100 · 28/04/2025 16:03:11 · Announcement #86770 · View on Saudi Exchange

Makkah Construction and 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 Makkah Construction and Development Company is pleased to invite the esteemed shareholders to participate and vote in the 38th Ordinary General Assembly Meeting (First and Second Meeting after one hour), scheduled to be held, God willing, at 8:00 PM on Monday, May 19, 2025, corresponding to 21/11/1446H, via modern technology means.
City and Location of the General Assembly's Meeting	Via modern technology means - Islamic Arts Biennale Exhibition Hall - Western Pilgrims Hall - King Abdulaziz International Airport - Jeddah City.
Hyperlink of the Meeting Location	Click Here
Date of the General Assembly's Meeting	2025-05-19 Corresponding to 1446-11-21
Time of the General Assembly’s Meeting	20:00
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 is valid if attended by shareholders representing at least one-quarter of the company's voting shares. If the required quorum is not met, a second meeting will be held based on a second invitation within 30 days following the previous meeting. The second meeting may be held one hour after the end of the time set for the first meeting, provided that the invitation for the first meeting includes an announcement of the possibility of holding this meeting. In all cases, the second meeting will be valid regardless of the number of shares represented.
General Assembly Meeting Agenda	1. Review and discuss the Board of Directors' report for the fiscal year ending December 31, 2024.

2. Review and discuss the financial statements for the fiscal year ending December 31, 2024.

3. Voting on the company's auditor's report for the fiscal year ending December 31, 2024, after discussion.

4. Voting on discharging the Board of Directors' members from liability for the fiscal year ending December 31, 2024.

5. Voting on appointing the company's auditor from among the nominees based on the Audit Committee's recommendation to examine, review, and audit the financial statements for the second, third, and annual quarters of the fiscal year ending December 31, 2025, and the first quarter of the fiscal year ending December 31, 2026, and determining his fees.

6. Voting on the Board of Directors' recommendation to distribute cash dividends amounting to SAR 300,000,000 to shareholders for the fiscal year ending December 31, 2024, at SAR 1.50 per share, representing 15% of the nominal value of the share. Eligibility will be for shareholders owning shares at the end of the trading day of the General Assembly meeting and registered in the company's shareholders' register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date. Dividend distribution will start on Wednesday 15/12/1446 AH corresponding 11/06/2025 AD.

7. Voting on disbursing an amount of SAR 4,357,000 as remuneration for the Board of Directors' members for the fiscal year ending December 31, 2024.

8. Voting on the transactions and contracts conducted during the fiscal year ending December 31, 2024, between the company and the establishment of Mr. Ziad Bassam Mohammed Al-Bassam, a Board member, in which he has a direct interest. This is a lease contract for a 16m² exhibition space in the commercial center with an annual rent of SAR 564,880 (without preferential terms). 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 agenda items and ask questions. Voting through Tadawulaty services is available free of charge to all shareholders using the following link: https://www.tadawulaty.com.sa Details of the electronic voting on the Assembly’s agenda Shareholders registered in Tadawulaty services can vote electronically on the agenda items remotely starting from 1:00 AM on Thursday, May 15, 2025, until the end of the General Assembly meeting. Registration and voting in Tadawulaty services are available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa Method of Communication in Case of Any Enquiries The company encourages all its shareholders to register in Tadawulaty to participate and vote (remotely) on the agenda items through the electronic platform. For any inquiries or questions related to the agenda items, please contact the Shareholders Affairs Department at phone number: (0125571522) – mobile number: (0598191047) or via email: mosahem@mcdc.com.sa, or write to the following address: Makkah Construction and Development Company: Makkah Al-Mukarramah, Al-Shawqiyah District – Third Ring Road – Building No.: 2779, Sub-number: 8860 – Postal Code: 24351. 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.