| Introduction | The Board of Directors of Saudi Cable Company is pleased to invite the respective Shareholders to participate and vote in the Extraordinary General Assembly Meeting (First meeting) scheduled to be held by God Willing at 06:30 p.m. on Wednesday, 8 Rajab 1443H, corresponding to 9 February 2022, via means of modern technology using Tadawulaty system to ensure the safety of Shareholders and to support the preventive and precautionary efforts and measures by the competent and relevant health authorities to curb the new COVID19 Virus, as an extension of the continued efforts of all government agencies in Saudi Arabia to take the necessary preventive measures to prevent its spreading. |
| City and Location of the Extraordinary General Assembly’s Meeting | Company’s Head office in Jeddah – Via means of modern technology. |
| URL for the Meeting Location | WWW.TADAWULATY.COM.SA |
| Date of the Extraordinary General Assembly’s Meeting | 2022-02-09 Corresponding to 1443-07-08 |
| Time of the Extraordinary General Assembly’s Meeting | 06:30 |
| Attendance Eligibility | Shareholders registered in the Company’s Shareholders registry at the Securities Depository Center (Edaa) in the end of the trading session preceding the General Assembly’s Meeting as per Laws and Regulations. |
| Quorum for Convening the General Assembly’s Meeting | Pursuant to Article (30) of the Company’s Bylaw, the convention of the Extraordinary General Assembly shall be valid if attended by Shareholders representing at least half of the capital, and if the quorum is incomplete to hold this meeting, a second meeting will be held an hour after the end of the period designated for the first meeting, provided that the invitation for calling the first meeting must include within the announcement the possibility of holding such meeting. Whilst under all situations the second meeting will be valid if attended by Shareholders representing at least a quarter of the capital. If the quorum is incomplete in the second meeting, shall call for a third meeting, and the third meeting will be valid no matter how many shares are represented after the approval of the relevant official Authorities. |
| Meeting Agenda | 1. To vote on the Board’ recommendation regarding decrease of the Company’s capital, as the following:- Company’s capital before the decrease: (360,614,060) Saudi Riyal.- Company’s capital after the decrease: (262,311,060) Saudi Riyal.- Number of Shares before the decrease: (36,061,406) shares.- Number of Shares after the decrease: (26,231,106) shares.- The percentage of the capital decrease: 27.26% of the Company’s capital.- Reasons for capital decrease: Restructuring of the capital in order to write-off (100%) of the accumulated losses as of 31 March 2021, an amount of (98,303,000) Saudi Riyal.- Method of capital decrease: Cancellation a number of (9,830,300) of the Company’s shares, such that, 1 share shall be decreased per 3.6684 share.- Date of decrease: End of the second trading day following the date of the Extraordinary General Assembly meeting that approved the capital decrease.- Impact of Capital decrease on Company’s obligations: Capital decrease will not impact the Company financial obligations.-To amend Article No. (7) of the Company’s Bylaw on Company’s capital (Attached).- To amend Article No. (8) of the Company’s Bylaw on shares subscription (Attached).2. To vote on the Board recommendation regarding Company’s Capital increase through offering of rights issue , as the following:- Company’s capital before the increase: (262,311,060) Saudi Riyal.- Increase of the Company’s Capital through offering of rights issue, an amount of (500,000,000) Saudi Riyal.- Company’s capital after the increase: (762,311,060) Saudi Riyal.- Number of Shares before the increase: (26,231,106) shares.- Number of Shares after the increase: (76,231,106) shares.- Reasons for capital increase: Restructuring of the Company’s capital in order to inject new capital to secure working capital to enable the Company to increase operational capacity and support its future activities.- Method of capital increase: Offering and listing of rights issue (50,000,000) Shares.- Eligibility’s date: Upon approval of this item, eligibility shall be for the Shareholders on the day of the Extraordinary General Assembly convention, who are registered in the Shareholders’ register at the Securities Depository Center (Edaa) in the end of the second trading day following the date of the Extraordinary General Assembly convention.- To amend Article No. (7) of the Company’s Bylaw on Company’s capital (Attached).- To amend Article No. (8) of the Company’s Bylaw on shares subscription (Attached).- Voting on this item is subject to the Shareholders approval of the first item of EGA’s Agenda regarding the Company’s Capital decrease. |
| Proxy Form | Download |
| E-Vote | Noting that Shareholders registered on Tadawulaty services can vote remotely (on line) on the items of the Assembly Meeting, starting at 10:00 am on Saturday, 4 Rajab 1443H corresponding to 5 February 2022 up to the ending time of the convention of the Extraordinary General Assembly, and the registration and voting via Tadawulaty services is available for free to all Shareholders on the following link. www.tadawulaty.com.sa. |
| Eligibility for Attendance Registration and Voting | Eligibility for registration in attending the Extraordinary General Assembly meeting ends at the convention of the Extraordinary General Assembly. Whilst; the eligibility for voting on the Agenda of the Meeting with respect to the attendees shall end upon the Counting Committee concludes counting the votes. |
| Method of Communication | For any further inquiries, please, Contact: Shareholders Affairs via phone No. (012) 6087500, or email: (Investor.Relations@saudicable.com). |
| Additional Information | N/A |
| Attached Documents | Download Download Download Download |
