Element List Explanation
Introduction The Board of Directors of the United International Transportation Company (Budget Saudi) is pleased to invite the shareholders to participate and vote in the Extraordinary General Assembly meeting (the first meeting), which will be held on Thursday 23-05-2024 at 8:00 PM, via modern technology means
City and Location of the General Assembly's Meeting Through modern technology means and from the Company’s head office in Jeddah.
Hyperlink of the Meeting Location Click Here
Date of the General Assembly's Meeting 2024-05-23 Corresponding to 1445-11-15
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 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 shall be valid if attended by shareholders representing at least half of the Company’s capital. In the absence of a quorum required for holding the meeting, a second meeting will be held one hour after the end of the period specified for the first meeting. The second meeting shall be valid if attended by shareholders representing at least one-fourth of the Company’s capital.
General Assembly Meeting Agenda 1. Reviewing and discussing the financial statements for the fiscal year ending on 31-12-2023.

 

2. Reviewing and discussing the Board of Directors’ report for the financial year ending on 31-12-2023.

3. Voting on the auditor’s report for the fiscal year ending on 31-12-2023 after discussion.

4. Voting on appointment the company's auditor from among the candidates, based on the recommendation of the audit committee, to examine, review and audit the financial statements for the second and third quarters and the annual financial statements for the fiscal year 2024 and the first quarter of the fiscal year 2025, and determine their remuneration.

5. Voting to discharge the members of the Board of Directors from liability for the fiscal year ending 31-12-2023.

6. Voting on paying an amount of 3,546,000 Saudi riyals as remuneration to the Board members for the fiscal year ending on 31-12-2023.

7. Voting on authorizing the Board of Directors to distribute interim profits on a semi- or quarterly basis for the fiscal year 2024.

8. Voting on the Board of Directors' recommendation to distribute dividends in the amount of 71,166,668 riyals to shareholders for the second half of the year 2023 at the rate of 1 riyal per share, representing 10% of the capital, provided that the eligibility is for shareholders who own shares at the end of trading on the day of the General Assembly and those registered in Register the company's shareholders with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date. The dividend distribution date will be announced later.

9. Voting on the amendment of article three of the company's bylaws related to (the company’s objectives). (attached)

10. Voting on the election of members of the Board of Directors from among the candidates for the next term, which begins on 21-06-2024 and lasts for four years, ending on 20-06-2028 (Candidates resume are attached).
Proxy Form
The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right The Shareholders have the right to discuss the topics on the agenda and ask questions. Shareholders can remotely vote on the Extraordinary General Assembly Meeting’s agenda via (E-voting service), through Tadawulaty using the following link: https://login.tadawulaty.com.sa/ir/user/login.xhtml
Details of the electronic voting on the Assembly’s agenda Shareholders registered on the Tadawulaty Services website will be able to vote electronically remotely on the General Assembly’s Meeting Agenda through the (Electronic Voting) service, which will start from Thursday morning (01:00 AM) dated 19-05-2024 until the end of the assembly time. The registration and voting on the Tadawulaty platform are freely available for all shareholders by using the following link: https://login.tadawulaty.com.sa/ir/user/login.xhtml
Method of Communication in Case of Any Enquiries In the event of an inquiry about the Assembly's items, please contact the Shareholders Affairs Department at (0126927070), Ext 1610, 1777 or 1115; or via e-mail: investor.relations@budgetsaudi.com
Attached Documents       
 

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