| LEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of Al-Andalus Property company is pleased to announce the results of the 5th Extraordinary General Assembly which include the approval on the company's capital increase (first meeting). |
| City and Location of the Extraordinary General Assembly's Meeting | The Extraordinary General Assembly has been held remotely via modern technology. |
| Date of the Extraordinary General Assembly's Meeting | 2021-08-25 Corresponding to 1443-01-17 |
| Time of the Extraordinary General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 62.67 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following members of the Board of Directors:
1.Mr. AbdulSalam bin Abdul Rahman Al-Aqil (Chairman of the Board). 2.Eng. Saleh bin Muhammad Al Habib (Vice Chairman) 3.Mr. Ahmed bin Abdul Rahman Al-Mousa (Board Member) 4.Mr. Mohammed bin Abdul Mohsen Al-Zakri (Board Member). 5.Dr. Abdul Rahman bin Muhammad Al-Barrak (Board Member) 6.Dr. Sulaiman bin Ali Al-Hudhaif (Board Member). 7.Mr. Emad bin Hamoud Al-Otaibi (Board Member). 8. Mr. Abdullah Abdulaziz Al Mishaal (Board Member). 9. Mr. Hathal bin Saad Al-Otaibi (Board Member and CEO) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | The meeting was attended by the following committees chairmen:
1.Dr. Abdul Rahman bin Muhammad Al-Barrak (Chairman of Audit Committee) 2.Dr. Sulaiman bin Ali Al-Hudhaif (Chairman of Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | Item 1: - Approved the Board of Directors recommendation to increase of the Company’s capital by issuing bonus shares to its shareholders as follows:
A- Total amount of increase: SAR 233,333,330. B- Capital before increase: SAR 700,000,000, which will become SAR 933,333,330, after the increase, i.e. an increase of 33.33% C- Number of shares before capital increase: 70,000,000 shares. Number of shares after increase 93,333,333 shares. D-The purpose of this increase is to support and strengthen the capital base and the Company's future activities. e- Increase rate: One share for every three shares. f- The increase will be through capitalizing an amount of SAR 233,333,330 from the statutory reserve and retained earnings. G- Eligibility Date: the shareholders registered in the Company’s shareholders register held at the Securities Depository Center Company (Depository Center) on the date of the extraordinary general assembly will be entitled to receive their bonus shares at the end of the second trading day following the date of the extraordinary general assembly. H- Fraction shares will be aggregated into one portfolio for all shareholders and sold at market price, proceeds of which will be distributed to the shareholders who are entitled to the bonus shares on pro rata basis, within 30 days following the date of determining the bonus shares entitled to each share. I- approved the amendment of Article No. (7) of the Company's Articles of Association relating to capital. (attached) j- approved the amendment of Article No. (8) of the Company's Articles of Association related to shares subscription. (attached) Item 2 : Approved the amendments of the dividend policy (attached). Item 3: Approved the amendment of Article No. (46) of the Company's bylaws related to the distribution of profits. (Attached) |
| Additional Information | For any inquiries, please contact the Investor Relations Department, 011 47700 735, Ext. 888 Mobile: 0551135356 Email : IR@alandalus.com.sa |
| Attached Documents |  |
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