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Al-Babtain Power and Telecommunication Co. announces to invites its Shareholders to Attend the (First Meeting) Ordinary General Assembly Meeting through the modern technology means
| Element List | Explanation |
|---|---|
| Introduction | The Board Directors of Al Babtain power and telecommunication company is pleasing to invite the shareholders to share and voting of ordinary assembly meeting (first meeting) which will held at 07:00 PM on Thursday 30.05.2024 through the modern technology means. |
| City and Location of the General Assembly's Meeting | Corporate Office – Riyadh City through the modern technology means |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-05-30 Corresponding to 1445-11-22 |
| Time of the General Assembly’s Meeting | 19:00 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Each shareholder who is registered in the company’s shareholders ’register at the Depository Center has the right to attend the meeting of the Assembly at the end of the trading session preceding the General Assembly meeting according to the rules and regulations. The right to register to attend the assembly meeting ends at the time of the assembly meeting. The eligibility to vote on the assembly's items for the attendees ends when the counting committee finishes counting the votes. |
| Quorum for Convening the General Assembly's Meeting | The meeting of the ordinary general assembly will be valid if it is attended by shareholders representing at least (quarter) of the company’s shares which have voting rights, and if the quorum required for holding the meeting is not available, the second meeting will be held an hour after the end of the period specified for holding the first meeting, and in all cases the second meeting is valid regardless of the number of shares represented in it. |
| General Assembly Meeting Agenda | 1- To review the Board of Directors' report for the fiscal year ending on 31.12.2023 and discuss. 2- Voting on the auditor’s report on the Company’s accounts for the fiscal year ending on 31.12.2023 after discussing him. 3- To review and discuss the financial statements for the fiscal year ending on 31.12.2023. and discussion. 4- Voting on absolve the members of the Board of Directors from liability for fiscal year ended 31.12.2023. 5- Voting on appointing the auditor for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review, and audit the (second and third quarter) and annual financial statements, of the fiscal year 2024 G., and the first quarter of the fiscal year 2025 G., and the determination of the auditor's remuneration. 6- Voting for election of the Board members from among the candidates for the next term, for a term of three years commencing from 27.07.2024G and ending on 26.07.2027 G. (Candidates' CVs attached) 7- Voting to authorize the company board of directors to distribute interim dividends to its shareholders on a biannual or quarterly basis for the fiscal year 2024. 8- Vote on the recommendation of the board directors to distribute cash dividends amounted to SAR (63,946,968) to shareholders for the year end 31/12/2023, with the value of (01) SAR per share and at rate of (10%) of the capital, provided that the shareholders who own the shares are eligible by the end of the day of the general assembly meeting and those registered in the company’s shareholders register at the Securities Depository Centre Company (Edaa) are traded at the end of the second trading day following the maturity date. The distribution date to be announced later. 9- Voting on the Board of Directors delegating the authority of the Ordinary General Assembly to the license mentioned in Paragraph (1) of Article (27) of the Companies Bylaw, for a period of one year from the date of approval of the General Assembly or until the end of the session of the authorized Board of Directors, whichever is earlier, in accordance with the conditions mentioned in the controls And the regulatory procedures issued in implementation of the Companies Law for listed joint stock companies. 10- Voting on the transactions which held between the company and al Babtain contracting company where the following board members have indirect interest; Ibrahim Hamad Abdullah ABabtain, Abdulkareem Hamad Abdullah Al Babtain, Khaled Mohammed Abdullah Abdulrahman ABabtain. This transaction is about sales, the value of these transactions of year 2023 are 6,2 million Saudi Riyals and not preferential terms. 11- Voting on the transactions which held between the company and al Babtain trading company where the following board members have indirect interest; Ibrahim Hamad Abdullah ABabtain, Abdulkareem Hamad Abdullah Al Babtain, Khaled Mohammed Abdullah Abdulrahman ABabtain. This transaction is about purchasing, the value of these transactions of year 2023 are SR 64,000 and not preferential terms. |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | The shareholder has a right to discuss the subject in the meeting schedule and ask questions also in this regard, and the registration in Tadawulaty services will be available free of charge to all shareholders using the following link www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | The shareholders who registered in the Tadawulaty Services website could remotely electronic voting on the assembly’s items starting at 01:00 am on Monday 19/11/1445 AD corresponding to 27/05/2024 AD until the end of the assembly time. Registration and the registration in Tadawulaty services will be available free of charge to all shareholders using the following link www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | Accordingly, the company hopes that all its shareholders will register in my deliberations to participate and vote remotely on the association’s items through the website. In case any inquiries related to the meeting schedule, we hope to communicate with the secretariat of the board of directors via [phone + 966112411222, ext. 4466, and e-mail yaseer-od@al-babtain.com.sa] |
| Attached Documents | |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Company Performance
Key Parameters
Last Price 42.75
Net Change -0.4 (-0.93%)
Value Traded (Sar) 18,050,584.9
Volume Traded 422,095
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