Wafrah for Industry and Development Co. — Proxy Solicitation & Information Statement 2022

Apr 25, 2022

Wafrah for Industry and Development Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase ( First Meeting )

2100 · 25/04/2022 16:30:37 · Announcement #67921 · View on Saudi Exchange

Wafrah for Industry and Development Co. Invites its Shareholders to Attend the Extraordinary General Assembly Meeting for Capital Increase ( First Meeting )

Element List	Explanation
Introduction	The Board of Directors of Wafrah for Industry and Development Company is pleased to invite the Company’s shareholders to participate and vote in the extraordinary General Meeting (First Meeting) to be held at 20:00 p.m. on Monday 16-05-2022 corresponding to 15-10-1443H, via modern technology means, at the company's Head Office in the third Industrial city, Riyadh City.
City and Location of the Extraordinary General Assembly's Meeting	At the company's Head Office in the third Industrial city, Riyadh City, via modern technology means.
URL for the Meeting Location	www.tadawulaty.com.sa
Date of the Extraordinary General Assembly's Meeting	2022-05-16 Corresponding to 1443-10-15
Time of the Extraordinary General Assembly's Meeting	20:00
Attendance Eligibility	ShareHolders Registered at the Depositary Center Registry at the End of the Trading Session Proceeding the General Assembly Meeting and as per the Laws and Regulations
Quorum for Convening the General Assembly's Meeting	The Extraordinary General Assembly Meeting requires the attendance of shareholders representing at least 50% of the Company’s capital. If the quorum is not attained, the second Meeting will be held after 1 hour, and it will require the attendance of shareholders representing at least 25% of the Company’s capital.
Meeting Agenda	1- a- Voting on the Board of Directors' recommendation to increase company’s capital by offering right issues as per the following:

- The company’s capital before the increase: SR 77,170,350.

- The company’s capital after the increase: SR 231,511,050.

- Percentage of increase: 200% of the company’s capital i.e. two shares rights will be issued for each means of the increase share.

- Number of shares before the increase: 7,717,035 shares.

- Number of shares after the increase: 23,151,105 shares.

- Purpose for the increase: to expand the company activities, to automate production lines and achieve the best utilization for the spread of its brands all over the Kingdom which is expected to be profitable for the Company, driving it to fulfilling its objectives.

- Means of increasing capital: offering 15,434,070 ordinary right issue shares.

- Eligibility date; if the item is approved, eligible shareholders are those holding shares on the day of convening the Extraordinary General Assembly and who are registered in the shareholders’ registry with the Depository Centre Company (Edaa) at the end of the second trading day following the eligibility date.

1-b- Amending Article No. 7 of the company’s Articles of Association related to capital (attached).

1-c- Amending Article No. 8 of the company’s Articles of Association related to IPO to shares (attached).

2- Voting on amending Article No. 3 of the company’s Articles of Association related to Objects of the Company (attached).

3- Voting on amending Article No. 17 of the company’s Articles of Association related to the vacant post in the Board (attached).

4- Voting on amending Article No. 19 of the company’s Articles of Association related to remunerations of the Board Members (attached).

5- Voting on amending Article No. 47 of the company’s Articles of Association related to liability Claims to match Corporates Articles of Association (attached). Proxy Form E-Vote Electronic voting will start at 10:00 a.m. on Thursday 11-10-1443, corresponding to 12-05-2022 and will continue until the end of the General Assembly Meeting. Registration and voting at Tadawulaty site is available free of charge using the following link:

www.tadawulaty.com.sa Eligibility for Attendance Registration and Voting Eligibility for Attendance Registration and Voting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes Method of Communication For enquiries regarding the General Assembly agenda, please contact the shareholders affairs dept. at 011-4023456 ext.28, or via smahgoub@wafrah.com 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.