Saudi Cable Co. Announces the Non convenience of its (First & Second Meeting ) Extraordinary General Assembly’s Meeting Resolving Capital Change Meeting
The Saudi Cable Company announces that the Extraordinary General Assembly meeting (the second meeting) will not be held on Wednesday 20/07/2022, via modern technology, due to the lack of the quorum required for the meeting, as the attendance percentage for the meeting reached the first meeting (13.37%) and the attendance percentage for the second meeting (13.51%).
Indicate the date of the non-convened assembly
2022-07-20 Corresponding to 1443-12-21
City and Location of the General Assembly’s Meeting
By means of modern technology from the company’s headquarters
Time of the General Assembly’s Meeting
19:30
The reason behind non-convening the assembly
Due to the lack of the quorum required for the meeting, as the attendance percentage for the meeting reached the first meeting (13.37%) and the attendance percentage for the second meeting (13.51%).
Percentage of Attending Shareholders
%13.51
The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors on profits or on the work of the External Auditor (where applicable).
N/A
The impact of non-convening the assembly upon matters relating to the recommendations of the board of directors capital alterations
The company would like to clarify that the effect of the non-convening of the Assembly meeting regarding the recommendations of the board of directors about the change in the capital is that the company will later invite the third meeting to be held with the shareholders who attended. If the shareholders of the company agree at the Extraordinary General Assembly’s Meeting to reduce the capital, the reduction decision will be effective on the shareholders of the company who own shares on the day of the extraordinary general assembly who are registered in the company’s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly that was decided in which the capital reduction.
Additional Information
Accordingly, the Extraordinary General Assembly meeting was postponed, and will call for a third meeting which will be determined and announced later after obtaining the approval of the relevant authorities.
