The Abdullah Alothaim Markets Company would like to announce that, in light of the issuance of ministerial decree No. (2083) dated 1/6 / 1438H to amend paragraph (1) of article (1) of the income tax bylaws, to exclude the shares of non-Saudi partners that are owned by speculative interest through trading in the shares of companies listed in the Saudi Stock Exchange Markets, which means that the company will no more bear the income tax burden.
Based on that and to support the Kingdom's appetite toward attracting Non-Saudi investments and promoting the economic and investment environment in the Kingdom, the Board of Directors has decided on 02/05/2017 to propose to the Extraordinary General Assembly of Shareholders to amend Article (11) of the Company bylaws to omit the restrictions on Non Saudi investors ownership .
The date of the Extraordinary General Assembly meeting will be determined later after obtaining the necessary approvals from the competent authorities and completing the required procedures accordingly.
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