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Agenda of The Extraordinary Assembly Meeting
The Board of Director of Retal Urban Development Company is delighted to provide you with agenda items of the
Extraordinary General Meeting for deliberation and voting on 02/01/1445H corresponding to 20/07/2023G at 18:30 noon time, which will be convened via modern technology means, as shown below.
# Item
1
voting on increasing the capital of Retal Urban Development Company, based on the following:
a. The total amount of the increase is 100 million Saudi riyals.
B. The capital before the increase is 400 million Saudi riyals, and the capital after the increase becomes 500 million Saudi riyals, with an increase of 25%.
T. The number of shares before the increase is 400,000,000 million shares, and the number of shares after the increase will be 500,000,000 shares.
w. The company aims, through the capital increase, to enhance its strategic growth plan in its assets, expand its projects, and confirm its financial adequacy and the strength of its financial position.
c. Distributing 100 million shares as bonus shares to the shareholders at the rate of 0.25 shares for each one share owned by the shareholder, which is equivalent to one share for every four shares owned by the shareholder, which represents an increase of 25% of the company’s capital, and the eligibility will be for the shareholders who own shares at the end of trading on the day of the extraordinary general assembly Those registered in the company's shareholder register at the Depository Center at the end of the second trading day following the date of the company's
extraordinary general assembly.
h. The increase will be made by capitalizing an amount of SAR 100 million from the retained earnings account.
x. In the event that the shareholders of the company at the Extraordinary General Assembly meeting agree to increase the capital, the eligibility for the bonus shares will be for the company’s shareholders who own shares on the day of the Extraordinary General Assembly meeting and who are registered in the company’s shareholder register at the Securities Depository Center (Edaa Center) at the end of the second trading day following The maturity date, and in the event that there are fractional shares, they will be collected in one portfolio for all the shareholders, and sold at the market price, then its value will be distributed among the shareholders who are entitled to the grant, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.
D. Amending Article No. (6) of the company's articles of association, relating to the company's capital (attached).
y. Amending Article No. (7) of the Company's Articles of Association, related to subscription to shares (attached).
2 voting on authorizing the Board of Directors to distribute interim profits on a semi-annual or quarterly basis for the fiscal year 2023.
3 voting on amending The Policies, Criteria, and Procedures of Nomination for Board Membership. (attached).
4 voting on amending the Audit Committee Charter (attached).
