2020

Item

Explanation

City and Location of the Extraordinary General Assembly’s Meeting

The Hotel Venue Jeddah Corniche

Prince Faisal Bin Fahd Entrance – KSA, Jeddah

Date of the Extraordinary General Assembly’s Meeting

05/05/1441 corresponding to 31/12/2019

Time of the Extraordinary General Assembly’s Meeting

19:30

Percentage of Shareholders’ Attendance

34.54%

Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees

Mr. Meyassar A. Nowailato (Chairman)

Mr. Raaid K. Alireza (Vice-Chairman)

Mr. Yousuf A. Alireza (Board Member)

Dr. Abdullah H. Masri (Board Member & Chairman of Nomination & Remunerations Committee).

Mr. Khalid Ali H. Alajlan (Independent Board Member).

While, the following members were unable to attend the meeting due to their special circumstances and they have already informed the Board about:

Mr. Khalid A. Alireza  (Board Member).

Mr. Adnan A. Maimani (Board Member, Chairman of the Audit Committee).

Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Names of those Attending on their Behalf

Dr. Abdullah H. Masri (Chairman of the Nomination & Remunerations Committee).

Voting Results on the Items of the General Assembly’s Meeting Agenda’s

Item (1) approved Board recommendation for the increase of Company’s Capital by sum of SR. (250,000,000) as the following:

a.       Company’s capital prior to the increase is sum of (110,614,060) divided into (11,061,406) nominal share.

b.      Company’s capital after the increase will be sum of SR. (360,614,060), divided into (36,061,406) nominal share.

c.       Total increase of the capital is sum of SR. (250,000,000).

d.      Reason for the capital increase is for the restructuring and launching new capital to provide working capital to enable the Company increasing operational capacity and to support the future activity of the Company.

e.       The method for capital increase: Through listing and offering rights issue for a number of (25,000,000) nominal share.

Item (2): Approved amendment of Article No. (7) of the Company’s Bylaws on capital increase to be confirmed  with the recommended increase in case EGA approved item No. (1).

Item (3): Approved amendment of Article No. (8) of the Company’s Bylaws on the offering to be confirmed with the recommended increase in case EGA approved item No. (1).