ASG Plastic Factory Co. Board invites its shareholders to attend the Extraordinary General Assembly Meeting the (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of ASG Plastic Factory Company is pleased to invite the esteemed shareholders to participate and vote in the Extraordinary General Assembly Meeting (First Meeting), which is scheduled to be held, God willing, via modern technology means at 7:45 PM on Tuesday, 29/11/1446H, corresponding to 27/05/2025. |
| City and Location of the General Assembly’s Meeting | At the company’s headquarters located in Sudair Industrial and Business City, via modern technology means. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly’s Meeting | 2025-05-27 Corresponding to 1446-11-29 |
| Time of the General Assembly’s Meeting | 19:45 |
| 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 shareholder has the right to delegate whomever other than the board of directors. 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 | According to Article (39) of the Company’s Articles of Association, the Extraordinary General Assembly Meeting shall not be valid unless attended by shareholders representing at least half of the shares with voting rights. If this quorum is not met in the first meeting, a second meeting will be held one hour after the end of the period specified for the first meeting. In all cases, the second meeting shall be valid if attended by shareholders representing at least one-quarter of the shares with voting rights. |
| General Assembly Meeting Agenda | 1. Voting on the company’s auditor report for the fiscal year ending December 31, 2024, after discussing it.
2. Reviewing and discussing the Board of Directors’ report for the fiscal year ending December 31, 2024. 3. Reviewing and discussing the company’s financial statements for the fiscal year ending December 31, 2024. 4. Voting on discharging the members of the Board of Directors from liability for the fiscal year ending December 31, 2024. 5. Voting on the appointment of the company’s external auditor from among the nominees based on the recommendation of the Audit Committee, to examine, review, and audit the company’s interim financial statements for the first half ending on 30-06-2025, and the annual financial statements for the fiscal year ending 31-12-2025, and to determine their fees. 6. Voting on authorizing the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year ending December 31, 2025. 7. Voting on authorizing the Board of Directors with the powers of the Ordinary General Assembly to issue licenses mentioned in paragraph (1) of Article 27 of the Companies Law, for one year from the date of the General Assembly’s approval or until the end of the delegated board’s term, whichever comes first, in accordance with the conditions set out in the implementing regulations of the Companies Law for listed joint-stock companies. 8. Voting on the Board of Directors’ recommendation to distribute cash dividends in the amount of SAR 4,582,500 (four million five hundred eighty-two thousand five hundred riyals) to shareholders for the fiscal year ending on 31-12-2024, at a rate of SAR 0.65 (sixty-five halalas) per share, representing 6.5% of the company’s capital. The entitlement shall be for shareholders who own shares at the end of the trading day on the date of the General Assembly and who are registered in the company’s shareholders register at the Securities Depository Center (Edaa) at the end of the second trading day following the entitlement date. The dividend distribution will begin within fifteen (15) business days from the entitlement date as specified in the General Assembly resolution. 9. Voting on the business and contracts conducted between the company and Habat Al-Bard Plastic Factory, in which Board Member Mr. Mohammed Rafdan Al-Sahma has an indirect interest. These transactions involve product sales, conducted during the year 2024, with a one-year term, in the ordinary course of business and under prevailing commercial terms without preferential conditions. The transaction value during 2024 was SAR 20,771 (attached). 10. Voting on the business and contracts conducted between the company and Habat Al-Bard Plastic Factory, in which Board Member Mr. Mohammed Rafdan Al-Sahma has an indirect interest. These transactions involve product purchases, conducted during the year 2024, with a one-year term, in the ordinary course of business and under prevailing commercial terms without preferential conditions. The transaction value during 2024 was SAR 2,027,923, and the amount paid during 2024 was SAR 2,253,853 (attached). 11. Voting on the business and contracts conducted between the company and ZAT Industrial Factory, in which Vice Chairman Mr. Fahad Mohammed Al-Othman has an indirect interest. These transactions involve raw material sales, conducted during the year 2024, with a one-year term, in the ordinary course of business and under prevailing commercial terms without preferential conditions. The transaction value during 2024 was SAR 1,469,325 (attached). 12. Voting on the business and contracts conducted between the company and ZAT Industrial Factory, in which Vice Chairman Mr. Fahad Mohammed Al-Othman has an indirect interest. These transactions involve asset sales, conducted during the year 2024, with a one-year term, in the ordinary course of business and under prevailing commercial terms without preferential conditions. The transaction value during 2024 was SAR 14,861 (attached). 13. Voting on the business and contracts conducted between the company and ZAT Industrial Factory, in which Vice Chairman Mr. Fahad Mohammed Al-Othman has an indirect interest. These transactions involve product purchases, conducted during the year 2024, with a one-year term, in the ordinary course of business and under prevailing commercial terms without preferential conditions. The transaction value during 2024 was SAR 816,683, and the amount paid during 2024 was SAR 33,687 (attached). 14. Voting on the amendment of Article (13) of the Company’s Articles of Association related to (Share Trading) (attached). 15. Voting on the deletion of Article (14) of the Company’s Articles of Association related to (Shareholders’ Register) (attached). 16. Voting on the amendment of Article (21) of the Company’s Articles of Association related to (Powers of the Chairman, Vice Chairman, CEO/Managing Director, and Secretary) (attached). 17. Voting on the deletion of Article (44) of the Company’s Articles of Association related to (Passing Resolutions of the General Assemblies by Circulation) (attached). |
| Proxy Form | |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Esteemed shareholders have the right to discuss the items listed on the agenda of the Extraordinary General Assembly and to raise questions. Please note that voting through Tadawulaty services is available free of charge to all shareholders via the following link: http://www.tadawulaty.com.sa |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered in Tadawulaty services can vote electronically and remotely on the agenda items starting from 1:00 AM on Friday, 25/11/1446H, corresponding to 23/05/2025G, until the end of the meeting. Registration and voting through Tadawulaty services will be available free of charge to all shareholders via the following link: www.tadawulaty.com.sa |
| Method of Communication in Case of Any Enquiries | We are pleased to receive your inquiries through the Investor Relations contact channels listed below:
Phone: 0559251726 Email: investorrelations@asgplastic.sa |
| Attached Documents | Attachment 1 (PDF) Attachment 2 (PDF) Attachment 3 (PDF) Attachment 4 (PDF) |
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