

13 January, 2025 15:46
Arriyadh Development Co. calls its shareholders to attend the Extraordinary General Assembly meeting which include the Increase of the company’s capital ( First Meeting )
Element List | Explanation |
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Introduction | The Board of Directors of Arriyadh Development Company (the "Company") is pleased to invite its valuable shareholders to participate and vote in the extraordinary general assembly meeting that includes increasing the company's capital (first meeting) scheduled at 8 PM on Monday 4 Shaban 1446 AH corresponding to February 3, 2025 AD) through contemporary technology means. |
City and Location of the Extraordinary General Assembly's Meeting | Riyadh – Kingdom of Saudi Arabia – at the headquarters of the company's general administration via means of modern technology. |
Hyperlink of the Meeting Location | Click Here |
Date of the General Assembly's Meeting | 2025-02-03 Corresponding to 1446-08-04 |
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 | 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 is considered valid if attended by shareholders representing at least half of the Company's capital, in accordance with the provisions of Article 31 of the Company's bylaws. If this quorum is not met at this meeting, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting will be quorate if attended by shareholders representing at least one quarter of the Company's capital. |
Meeting Agenda | 1)Vote on the amendments to the Company's bylaws to align with the new Companies Law issued pursuant to Royal Decree No. (M/132) dated 01/12/1443H and rearranging and re-numbering the articles of the bylaws accordingly. 2) Voting on amending Article No. (3) of the company’s articles of association related to the company’s purposes (attached). 3) Voting on amending Article No. (6) of the Company's Articles of Association related to the Company's term (attached).. 4) Voting on amending Article No. (11) of the Company's Articles of Association related to stock trading (attached).. 5) Voting on amending Article No. (17) of the Company's Articles of Association related to the Board of Directors (attached).. 6) Voting on amending Article No. (20) of the Company's Articles of Association related to the powers of the Board of Directors (attached).. 7) Voting on amending Article No. (44) of the Company's Articles of Association related to the distribution of profits (attached).. 8) Voting on deleting Article No. (46) of the company’s articles of association relating to preferred shares (attached). 9) Vote on increasing the Company's capital from one billion, seven hundred seventy-seven million, seven hundred seventy-seven thousand and seven hundred and seventy Saudi Riyals (SAR 1,777,777,770) to two billion, three hundred thirty-nine million, three hundred eight thousand and one hundred and eighty Saudi Riyals (SAR 2,339,308,180), which represents an increase of 31.58% of the current capital of the Company, and increasing the number of its shares from one hundred seventy-seven million, seven hundred seventy-seven thousand and seven hundred and seventy-seven (177,777,777) ordinary shares to two hundred thirty-three million, nine hundred thirty thousand and eight hundred and eighteen (233,930,818) ordinary shares for the purpose of acquiring two real estate assets owned by Remat Al-Riyadh Development Company, namely: (1) raw land with an area of (787,477.19) square metres located north of Dammam Road, Al-Rimal District, Riyadh, Kingdom of Saudi Arabia and (2) plot No 44/M of parcel number 1578/C with an area of (214,000) square metres located south of the Northern Ring Road, Al-Murooj District, Riyadh, Kingdom of Saudi Arabia (the "Real Estate Assets"), and allocating a total of fifty-six million, one hundred fifty-three thousand and forty-one (56,153,041) new ordinary shares (the "New Shares") to Remat Al-Riyadh Development Company (the "Transaction") and such increase shall be effective from the date of approval by the Extraordinary General Assembly, including the voting on the following items in relation to the Transaction: a) provisions of the Acquisition and In-Kind Contribution Agreement entered into between the Company and Remat Al-Riyadh Development Company on 28/02/1446H (corresponding to 01/09/2024G b) amendment of article (7) of the Company's bylaws related to the share capital. and c) authorization of the board of directors of the Company, or any person so authorized by the board of directors, to adopt any resolution or take any actions as may be necessary to implement the above resolutions. 10) Voting on the business and contracts concluded between the company and Remat Riyadh Development Company, in which the Chairman of the Board of Directors, Prince Dr. Faisal bin Abdulaziz bin Ayyaf, has an indirect interest as Chairman of the Board of Directors of Remat Riyadh Development Company, represented by the acquisition and in-kind contribution agreement concluded between the company and Remat Riyadh Development Company on 02/28/1446 AH (corresponding to 09/01/2024 AD). (Attached) |
Proxy Form | ![]() |
The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders have the right to discuss the items listed in the agenda of the general assembly and raise questions and inquiries. Shareholders registered in Tadawulaty services can vote electronically and remotely on the assembly agenda items via Tadawulaty's website: www.tadawulaty.com.sa |
Details of the electronic voting on the Assembly’s agenda | Shareholders registered on the Tadawulaty electronic services will be able to vote remotely on the assembly agenda items through the (electronic voting) service, which will start from 1:00 AM on Thursday 30/07/1446 AH corresponding to 30/01/2025 AD, until the end of the assembly’s meeting time. Registration and voting in Tadawulaty services 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 | Method of Communication if there are any inquiries In case of any inquiries, please contact the Investors relations department on: Phone: 011-4110333 ext. 1103 Email: faldajani@riyadh.dev |
Attached Documents | ![]() ![]() ![]() ![]() |
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