The Board of Directors of Dar Alarkan Real Estate Development Company is pleased to invite its shareholders to attend the 5th Extraordinary General Assembly Meeting to be held at The Ritz-Carlton, Riyadh on Monday 1/5/2017 corresponding to 5/8/1438 Hijri at 8:30 PM to consider the following agenda
1.Approve the amendment of the Company Articles of Association, in accordance with the new company law (attached)
2.Approve the Board of Directors report for the year ended 31/12/2016.
3.Approve the Consolidated Financial Statements for the year ended on 31/12/2016.
4.Approve the External Auditors report for the year ended 31/12/2016.
5.Approve the Discharge of Board of Directors members from liabilities for their activities during the financial period ended 31/12/2016.
6.Approve the appointment of the External Auditors recommended by the Audit Committee from among the nominees to audit the Company financial statement for the year 2017, review the Company quarterly financial statements and the approval of their remuneration.
7.Approve the formation of the Audit Committee, the rules of its members nomination, its functions, its work rules and remuneration of its members, until the end of the current cycle on 23 June 2019, according to the following, Mr.Tariq Bin Mohamed AlJarallah, Mr.Majed Bin Abdulrahman Al Gasim, Mr.Hathloul Bin Saleh Al Hathloul and Mr.Majed Bin Romi Al Romi
8.Approve the related party transactions with Saudi Home Loans for the coming year (details attached).
9.Approve the related party transactions with Khozam Real Estate Development Company (KDC) for the coming year (details attached).
10.Approve the related party transactions with Bank Alkhairfor the coming year (details attached).
11.Approve the related party transactions with Alkhair Capital for the coming year (details attached).
Each shareholder shall have the right to attend the general assembly meeting whether in person or by proxy,subject to presentation of corroborating evidence or a written power of attorney endorsed by the chamber of commerce,other than the member of the board of directors or employees of the company, to attend the general assembly meeting on their behalf and it should be sent to Shareholders who desire to appoint other persons to attend and vote on their behalf at the General Assembly meeting, are requested to send a copy of the authenticated power of attorney to the Dar Alarkan Head Office, Investor Relations Department (P.O. Box 105633 Riyadh 11656) at least 2 days before the date of the General Assembly meeting.
Meeting will be a quorum with at least 50% of the capital of the Company. In case of this is not being met, second meeting will be held after one hour from the first meeting with at least 25% of the capital of the Company. Shareholders are requested to attend in ample time in order to complete registration formalities.
For Further information, please contact the Investors relations team through the below channels
Number 00966112069888 Ext 1640 and 1625
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