Mobile Telecommunication Company Saudi Arabia (Zain KSA)’s announcement of the results of the Extraordinary General Assembly meeting containing the approval to increase the Company's capital (First Meeting).Thursday 15 October 2020
|Introduction||Mobile Telecommunication Company Saudi Arabia (Zain KSA) announces the results of the Extraordinary General Assembly meeting containing the approval to increase the Company's capital (First Meeting) that was convened on 27/02/1442 corresponding to 14/10/2020 Whereas the statutory quorum was achieved for the meeting, with 56.55 % of capital shares represented thereat through modern technological means.|
|City and Location of the Extraordinary General Assembly's Meeting||The Company's head quarter in Riyadh, solely through the Tadawulaty system. Whereas votes were electronic only.|
|Date of the Extraordinary General Assembly's Meeting||2020-10-14 Corresponding to 1442-02-27|
|Time of the Extraordinary General Assembly's Meeting||18:30|
|Attendance Eligibility||Shareholders Registered at the Depositary Center Registry at the End of the Trading Session Proceeding the General Assembly Meeting and as per the Laws and Regulations|
|Percentage of Attending Shareholders||56.55|
|Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees||
The following Board Directors attended the meeting:
1- HH Prince Naif Bin Sultan Bin Mohammed Bin Saud Al Kabeer - Chairman.
2- Raied Bin Ali Al Saif
3- Saud Bin Abdullah Al-Bawardi
4- Hisham Bin Mohammed Attar
5- Firas Oggar
The following Board Directors swiftly served a notice as to their inability to attend the general assembly meeting:
1- Bader Bin Nasser Al-Kharafi
2- Ossama Michael Matta
3- Scott Marc Gegenheimer4- Martial Caratti
|Voting Results on the Items of the General Assembly's Meeting Agenda's||
1. Approve the Company's Board of Directors’ recommendation to increase the Company's capital by way of Rights Issue in accordance with the following:
• Capital before the increase: Four billion four hundred and eighty-seven million two hundred ninety-one thousand seven hundred fifty Saudi riyals (SAR 4,487,291,750).
• Capital Change Percentage: 100.3%
• Capital after the increase: Eight billion nine hundred and eighty-seven million two hundred and ninety-one thousand seven hundred fifty Saudi riyals (SAR 8,987,291,750).
• The total amount of the increase: Four billion five hundred million Saudi riyals (SAR 4,500,000,000).
• Number of shares before the increase: 448,729,175 shares.
• Number of shares after the increase: 898,729,175 shares.
• Percent increase per share: 1.003 Rights per share.
• Reason for the capital increase: Capitalizing part of the amounts due to Zain Kuwait, and paying part of the Murabaha facility.
• Capital increase method: Offering and listing Rights Issue shares with four hundred fifty million (450,000,000) ordinary shares.
• Eligibility date: Shareholders who own shares on the day of the extraordinary general assembly and who are registered in the Company's Shareholder Register at the Securities Depository Center Company (Edaa Center) as at the close of the second trading day following the date of the extraordinary general assembly meeting 01/03/1442H, corresponding to 18/10/2020G.
• Offering value and nominal value Per share: 10 Saudi riyals.
• Number of Offer shares: four hundred fifty million (450,000,000) ordinary shares.
• Amending Article 7 of the Company’s Bylaws related to the capital and shares (attached).• Amending Article 8 of the Company’s Bylaws related to share subscriptions (attached).
|Attached Documents||Click Here|