Saudi Advanced Industries Co. Announces an update on that it has received a letter from some shareholders who own shares representing 5.06% of the company's capital.

Element List	Explanation
Introduction	Referring to the announcement of the Saudi Advanced Industries Company on Tadawul website on 20/6/2021 AD that it had received a letter from some shareholders who own shares representing 5.06% of the company’s capital requesting that legal measures be taken to dissolve the company’s board of directors and re-elect new board members.

Saudi Advanced Industries Company would like to announce to its valued shareholders that the above-mentioned shareholders' request is no longer valid as stipulated in the regulations with a decrease in the ownership percentage below 5% as one of the applicants who has sold all his shares, which according to article 90 of the Companies Law,

The company's board of directors confirms that the company's doors are open to shareholders and listen to their comments and views of what contributes to develop of the company and to promote of its investments and would like to thank the Capital Market Authority for its duties to protect listed companies and the investors. Previous Announcement Saudi Advanced Industries Company (the company) announces that it has received a letter from some shareholders who own shares representing 5.06% of the company's capital. Date of Previous Announcement on Tadawul's Website 2021-06-20 Corresponding to 1442-11-10 Percentage of fulfilled achievement N/A Event's Expected Completion Date N/A Reasons for Exceeding the Announced End Date N/A The costs associated with the event, and if they have changed or not with indication of the reasons. N/A Impact of the Delay on the Company's Financial Results N/A

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