| Introduction | Introduction: The Board of Directors of the Saudi Cable Company is pleased to invite the honorable shareholders to participate and vote in the Extraordinary General Assembly meeting (the first meeting), which is scheduled to be held, God willing, at 06:30 pm on Sunday 21 Dhul-Hijjah 1443 AH corresponding to 20 July 2022 AD, by means of modern technology using my trading system. |
| City and Location of the Extraordinary General Assembly’s Meeting | Through modern technology from the company’s main headquarters in Jeddah |
| URL for the Meeting Location | WWW.TADAWULATY.COM.SA |
| Date of the Extraordinary General Assembly’s Meeting | 2022-07-20 Corresponding to 1443-12-21 |
| Time of the Extraordinary General Assembly’s Meeting | 06:30 |
| 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 | According to Article (30) of the company’s articles of association, the extraordinary general assembly meeting is not valid unless attended by shareholders representing at least half of the capital. To hold the first meeting, provided that the invitation to hold the first meeting includes announcing the possibility of holding this meeting. In all cases, the second meeting shall be valid if attended by a number of shareholders representing at least a quarter of the capital. If the necessary quorum is not available at the second meeting, an invitation is sent to a third meeting, and the third meeting will be valid regardless of the number of shares represented therein, after the approval of the competent authority. |
| Meeting Agenda | 1- Vote for the appointment of the company’s auditor from among the candidates based on the recommendation of the Audit Committee; This is for examining, reviewing and auditing the financial statements for the second, third, fourth and annual quarters of the fiscal year 2022 and the first quarter of the fiscal year 2023, and determining its fees.
2- Vote on the Board of Directors’ recommendation to reduce the company’s capital according to the following:
– The company’s capital before the reduction: (262,311,060) Saudi riyals
– The company’s capital after reduction: (66,729.060) Saudi riyals
– Number of shares before the reduction: (26,231,106) shares
– Number of shares after reduction: (6,672,906) sharesReduction rate: -74.6% of the company’s capital
– Reason for capital reduction: To restructure the capital and amortize (100%) of the accumulated losses as on March 31, 2022, at a value of (195.582.000) Saudi riyals
– Capital reduction method: canceling (19,558,200) shares of the company’s shares, 0.7456 shares will be reduced for every 1 share
– Effective date of reduction: at the end of the second trading day following the date of the Extraordinary General Assembly in which it was decided to reduce the capital
– The effect of the capital reduction on the company’s obligations: there is no effect of reducing the company’s capital on its financial obligations
– Amending Article (7) of the company’s articles of association related to capital (attached).
– Amending Article (8) of the company’s articles of association related to subscription for shares (attached). |
| Proxy Form | |
| E-Vote | Note that the shareholders registered in the Tadawulaty services will be able to vote remotely on the items of the assembly starting at 10 am on saturday 17 Dhu Al-Hijjah 1443 AH corresponding to July 16, 2022 until the end of the time of the assembly, and registration and voting in the trading services will be available and free for all shareholders 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 any further inquiries, please, Contact: Shareholders Affairsvia phone No. (012) 6087500, or email: (Investor.Relations@saudicable.com). |
| Additional Information | N/A |
| Attached Documents | |
