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Atlas Elevators General Trading and Contracting Company invites its shareholders to attend the Extraordinary General Assembly meeting (first meeting) via modern technology.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Atlas Elevators Company for General Trading and Contracting is pleased to invite our honorable shareholders to participate and vote in the Extraordinary General Assembly meeting (first meeting), which is scheduled to be held using modern means of purification, God Almighty willing, at exactly (20:00) on Wednesday, 11/21/ 1445 AH corresponding to 05/29/2024 AD |
| City and Location of the General Assembly's Meeting | At the company's main headquarters located in the city of Riyadh - Eastern Ring Road - Al-Quds District, through modern technological means |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2024-05-29 Corresponding to 1445-11-21 |
| Time of the General Assembly’s Meeting | 20:00 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | The right to attend shall be for shareholders registered in the register of shareholders of the issuer at the Depository Center at the end of the trading session that precedes the General Assembly meeting and in accordance with the rules and regulations. The right to register attendance for the Assembly meeting ends at the time of the Assembly meeting, and the right to vote on the Assembly items for those present ends when the screening committee finishes categorizing voices. |
| Quorum for Convening the General Assembly's Meeting | According to Article (38) of the company’s bylaws, the extraordinary general assembly meeting shall not be valid unless it is attended by shareholders representing at least half of the company’s shares that have voting rights. If this quorum is not present at the first meeting, the second meeting shall be held one hour after the end of the period specified for the meeting. The first meeting. In all cases, the second meeting is considered valid if it is attended by a number of shareholders representing at least a quarter of the company’s shares that have voting rights. |
| General Assembly Meeting Agenda | 1. Vote on the company’s auditor’s report for the financial year ending on December 31, 2023 AD after discussing it. 2. Reviewing the Board of Directors’ report for the financial year ending on December 31, 2023 AD and discussing it. 3. Review and discuss the company’s financial statements for the fiscal year ending on December 31, 2023. 4. Vote on discharging the members of the Board of Directors from their liabilities for the year ending December 31, 2023 AD. 5. Vote on appointing an auditor for the company from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the financial statements for the first half of the fiscal year 2024 and the annual of the fiscal year 2024 and determine his fees. 6. Vote on authorizing the Board of Directors to distribute interim dividends to shareholders on a semi-/quarterly basis for the fiscal year ending on 12-31-2024 AD. 7. Vote on disbursing an amount of (340,000) three hundred and forty thousand riyals as a reward to members of the Board of Directors for the fiscal year ending on 12/31/2023 AD. 8. Vote on the Board of Directors’ recommendation to distribute cash dividends in the amount of (3,000,000) three million riyals to shareholders for the financial year ending on (12/31/2023 AD) at a rate of (0.5) fifty halalas for each share and at a rate of (5%) of the capital. Eligibility shall be for shareholders who own shares at the end of trading on the day of the General Assembly and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the entitlement date. The date of dividend distribution will be announced later. 9. Vote on the Board of Directors’ recommendation to transfer the company’s statutory reserve balance, which amounted to (3,273,421) three million two hundred and seventy-three thousand, four hundred and twenty-one Saudi riyals, as in the financial statements ending on 12/31/2023 AD, to the retained earnings balance. 10. Voting on the business and contracts concluded between the company and Malas Restaurants Company Kuwait Limited, in which both the Managing Director and CEO, Mr. Mohsen Ali Al-Otaibi - and the member of the Board of Directors, Mr. Abdul Rahman Muhammad Omar Abdullah Al-Omar - have a direct interest in them as they are partners in the company, which is ( Purchases lasting one year) amounting to (17,125) riyals. (attached) 11. Voting on the business and contracts concluded between the company and Malas Restaurants Company Kuwait Limited, in which both the Managing Director and CEO, Mr. Mohsen Ali Al-Otaibi - and the member of the Board of Directors, Mr. Abdul Rahman Muhammad Omar Abdullah Al-Omar - have a direct interest in them as they are partners in the company, which is ( Expenses on behalf of the company for one year) in the amount of (26,382) riyals. (attached). 12. Voting on the business and contracts concluded between the company and the member of the Board of Directors, Mr. Falah Saud Al-Subaie - in which he has a direct interest, which is (a payment to the company for a period of one year) in the amount of (11,817) riyals. (attached) 13. Vote on amending the work regulations of the Audit Committee (attached). |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Honorable shareholders have the right to discuss the topics included in the agenda of the Ordinary General Assembly and ask questions, noting that voting in Tadawulaty services is available free of charge to all shareholders using the following link: http://tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawulati services can vote electronically remotely on the assembly’s items starting at 1:00 am on Saturday, 11/17/1445 AH, corresponding to 05/25/2024 AD, until the end of the meeting time. Registration and voting in Tadawulati services will be available and free to all shareholders using The following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | If there are any inquiries, please contact us via email info@atlaslifts-sa.net Or contact the number: 00966920000259 |
| 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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