The Board of Directors of Scientific and Medical Equipment House Company is pleased to announce to its esteemed shareholders the results of the Extraordinary general assembly second meeting, which included the approval of the increase in the company's capital (the first meeting), held at (19:30) on Sunday, 18 Safar 1445H corresponding to September 3, 2023, through modern technology means (remotely) via the Tadawulaty system, after reaching the legal quorum for the validity of the Extraordinary general assembly (first meeting).
City and Location of the Extraordinary General Assembly's Meeting
The Company headquarters in Riyadh - Conference District - King Fahd Street (by means of modern technology)
Date of the Extraordinary General Assembly's Meeting
2023-09-03 Corresponding to 1445-02-18
Time of the Extraordinary General Assembly's Meeting
19:30
Percentage of Attending Shareholders
63.43%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees
The following Board Members attended the meeting:
1) Mr. Basel bin Saud bin Mohammed Al Arifi (Chairman - non-executive)
2) Mr. Bandar bin Saud bin Mohammed Al Arifi (Vice Chairman- non-executive)
3) Mr.Barakat bin Saud bin Mohammed Al Arifi (Managing Director (CEO) (executive)
4) Mr. Mohammed bin Ibrahim bin Abdul Mohsen Al-Huqayl. (Board of Member – Independent)
5) Mr. Hassan bin Ali bin Abdul Mohsen Al-Jishi. (Board of Member – Independent)
6) Mr. Munir bin Ahmed bin Mohammed Al-Sari. (Board of Member – Independent)
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf
The following Committees Chairmen attended the meeting:
1) Mr. Loay Ali Al-Saratawy (Audit Committee Chairman)
2) Mr. Mohammed bin Ibrahim bin Abdul Mohsen Al-Huqayl (Remuneration and Nominations Committee Chairman)
3) Mr. Hassan bin Ali Al-Jishi (Risk Committee Chairman)
Voting Results on the Items of the General Assembly's Meeting Agenda's
1- Approval on the recommendation of the board of directors on increase the company's capital from SAR (200,000,000) to SAR (300,000,000) by granting free shares to the company's shareholders, as follows:
• The total amount of the increase: (100,000,000) one hundred million Saudi riyals.
• Capital before the increase: (200,000,000) two hundred million Saudi riyals.
• Capital after the increase: (300,000,000) three hundred million Saudi riyals.
• Increase ratio: 50%
• Number of shares granted: one (1) share for every two (2) Shares owned.
• Number of shares before the increase: (20,000,000) twenty million ordinary shares with a fully paid par value of (10) Saudi riyals per share.
• Number of shares after the increase: (30,000,000) thirty million ordinary shares with a fully paid par value of (10) Saudi riyals per share.
• The company's capital will be increased by capitalizing a total amount of (100,000,000) one hundred million Saudi riyals from the retained earnings item.
• The company aims to increase the capital to enhance the strategic growth of the company and to emphasize the company's financial solvency and the strength of its financial position.
• If the item is approved, the date of eligibility for shareholders owning shares will be by the end of the trading day of the Extraordinary General Assembly of the company and registered in the register of shareholders of the company with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly.
• If there are shares fractures granted, the fractures will be collected in one portfolio for all shareholders and sold at market price, then their value will be distributed to the shareholders entitled to the granted according to their stock within a period not exceeding (30) days from the date of determining the new shares due to each shareholder.
• Amending the seventh Article (7) of the company's articles of association, related to the company's capital and shares, to reflect the increase in capital.
• Amending the eighth Article (8) of the company's articles of association, related to the subscription of shares, to reflect the increase in capitalApproval on the amendment of the company's articles of association to harmonize it with the new company's articles of association and rearranging the articles of the system and numbering them to comply with the proposed amendments.
2- Approval on the amendment of the company's articles of association to harmonize it with the new company's articles of association and rearranging the articles of the system and numbering them to comply with the proposed amendments
