Molan Steel Co. Board invites its shareholders to attend the Extraordinary General Assembly Meeting the (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Molan Steel co is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly Meeting (the first meeting), which is scheduled to be held at (18:40) on Tuesday, Jun 25, 2024, through modern technology by using Tadawulaty system. |
| City and Location of the General Assembly's Meeting | From company headquarters, in Riyadh city by using modern technology means. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-06-25 Corresponding to 1445-12-19 |
| Time of the General Assembly’s Meeting | 18:40 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. The shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening the general assembly meeting. The attendees right to vote on the items of the assembly’s agenda ends upon the end of screening the votes by the Screening Committee. |
| Quorum for Convening the General Assembly's Meeting | The Extraordinary General Assembly Meeting shall be valid if attended by Shareholders representing at least half of the capital. If the required quorum is not available to convene this meeting, a second meeting will be held one hour after the end of the specified period for the first meeting. The second meeting shall be valid if attended by Shareholders representing at least a quarter of the capital. |
| General Assembly Meeting Agenda | Review and discuss the report of the Board of Directors for the fiscal year ending on December 31, 2023.
After discussing it, vote on the company's auditor's report for the fiscal year ending on December 31, 2023.
Review and discuss the financial statements for the fiscal year ending on December 31, 2023.
To vote on appointing the company's auditor from among the candidates based on the recommendation of the Audit Committee to examine, review, and audit the semi-annual and annual financial statements of the fiscal year 2024 and determine wage.
To vote to release the members of the Board of Directors from liability for the fiscal year ended on December 31, 2023.
To vote on the transfer of the entire statutory reserve of the company, amounting to 567,080 Saudi Riyals as stated in the financial statements ending on December 31, 2023, to the accumulated profits (losses) account.
To vote on electing members of the Board of Directors from among the candidates for the upcoming term, which starts from the date of Jul 11, 2024, and has a duration of three years, ending on Jul 10, 2027.
To vote on delegating the Board of Directors to distribute interim dividends for the fiscal year 2024 bi-annually or quarterly.
To vote on delegating to the Board of Directors, the General Assembly’s powers stipulated in paragraph (1) of Article (27) of the Companies Law, for one year from the General Assembly’s approval, or until the end of the Board of Directors’ term whichever is earlier, by the terms stated in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.
To vote on amending Article 4 of the Articles of Association related to the company's purposes. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Every shareholder has the right to discuss the topics included in the agenda of the General Assembly meeting and ask questions. Registered Tadawulaty service users can vote electronically remotely on the General Assembly items via the following link:
https://www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawul can (vote electronically remotely) on the items of the Ordinary General Assembly starting from 1:00 am on, Jun 21, 2024, until the end of the time of the General Assembly, and voting and registration in Tadawulaty service will be available and free of charge to all shareholders using the following link:
www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | In the event of any inquiries, please get in touch with the Shareholders Relations Department at +966112255601 email contact@molansteel.com |
| Attached Documents | |
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