Paper Home Company announces to its valued shareholders the results of the (extraordinary) General Assembly meeting, including the capital increase (first meeting)
| Element List | Explanation |
|---|---|
| Introduction | Paper Home Company announces to its shareholders the results of the first Extraordinary General Assembly meeting, which was held at (18:30) in the evening of Tuesday, 01/27/1447 AH corresponding to 07/22/2025 AD, at the company’s main headquarters located on Al-Kharj Road - Exit 7 - Al-Rafaye Industrial Area, through modern technology using the Tadawulati service, after the legal quorum for the validity of the assembly meeting was achieved. |
| City and Location of the Extraordinary General Assembly's Meeting | Al-Kharj City - At the company's headquarters located on Al-Kharj Road - Exit 7 - Al-Rafaye Industrial, through modern technology. |
| Date of the Extraordinary General Assembly's Meeting | 2025-07-22 Corresponding to 1447-01-27 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 74.36% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | - Mr. Yaqoob Yousef Mohammed Al-Maghrabi – Chairman of the Board of Directors
2- Mr. Ammar Yaqoob Yousef Al-Maghrabi – Vice Chairman of the Board of Directors 3- Mr. Faisal Yaqoob Yousef Al-Maghrabi – Managing Director and CEO 4- Dr. Abdul Mohsen Khalid Abdul Mohsen Al-Sudairi - Member of the Board of Directors 5- Mr. Abdullah Mohammed Yaqoob Al-Fraih – Member of the Board of Directors |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | 1-Mr. Abdullah Mohammed Yaqoob Al-Fraih – Member of the Board of Directors- Chairman of the Audit Committee.
2-Dr. Abdul Mohsen Khalid Abdul Mohsen Al-Sudairi - Member of the Board of Directors - Chairman of the Nominations and Remuneration Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the Board of Directors' recommendation to increase the company's capital by issuing bonus shares to shareholders as follows:
A- Total amount of the increase: (40,000,000) forty million riyals. B- Capital before the increase: (20,000,000) twenty million riyals. After the increase, the capital will become (60,000,000) sixty million riyals, i.e., an increase of 200%. C- Number of shares before the increase: (2,000,000) two million shares. After the increase, the number of shares will become (6,000,000) six million shares. C - This increase aims to align with the company's business volume and assets, in addition to supporting future growth and expansion. C - The increase will be achieved by capitalizing an amount of (40,000,000) forty million Saudi riyals from the retained earnings account, by granting (two free shares for each share) owned by the company's shareholders. H - Approval of the amendment to Article No. (7) of the company's Articles of Association related to capital. G- Approval of the amendment to Article (8) of the Company's Articles of Association relating to subscription to shares. - In the event of fractional shares, the fractional shares will be collected in a single portfolio for all shareholders and sold at market price. Their value will then be distributed to shareholders entitled to the bonus, each according to his share, within a period not exceeding 30 days from the date of determining the shares due to each shareholder. - If the clause is approved, the entitlement date for bonus shares will be for the company’s shareholders who own shares at the end of the trading day of the company’s extraordinary general assembly and are registered in the company’s shareholders’ register at the Securities Depository Center Company (the Depository Center) at the end of the second trading day following the entitlement date.
2. Approval to delete Article (47) of the company’s articles of association, related to (forming reserves).
3. Approval to transfer the balance of the company’s statutory reserve amounting to (5,123,414) Saudi riyals as in the financial statements for the year ending 12/31/2024 AD to the balance of retained earnings. |
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