The United International Transportation Company (Budget Saudi) announces the invitation of its shareholders to attend the Ordinary General Assembly meeting (First meeting) via modern technology means.
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the United International Transportation Company (Budget Saudi) is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting), which will be held on Thursday 22-05-2025 at 07:30 PM, via modern technology means |
| City and Location of the General Assembly's Meeting | Through modern technology means and from the Company’s head office in Jeddah. |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly's Meeting | 2025-05-22 Corresponding to 1446-11-24 |
| Time of the General Assembly’s Meeting | 19:30 |
| 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 right to register a name to attend the general assembly meeting ends at the time of convening of 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 | In order for the holding of the Ordinary General Assembly to be valid, the attendance of shareholders representing at least a quarter of the company capital is required, and in the event that the quorum required for holding the first meeting is not complete, the second meeting will be held an hour after the end of the period specified for the first meeting, and the second meeting will be valid regardless of the number of shares represented in it |
| General Assembly Meeting Agenda | 1. Reviewing and discussing the financial statements for the fiscal year ending on 31-12-2024. |
2. Reviewing and discussing the Board of Directors’ report for the financial year ending on 31-12-2024.
3. Voting on the auditor’s report for the fiscal year ending on 31-12-2024 after discussion.
4. Voting on appointment the company's auditor from among the candidates, based on the recommendation of the audit committee, to examine, review and audit the financial statements for the second and third quarters and the annual financial statements for the fiscal year 2025 and the first quarter of the fiscal year 2026, and determine their remuneration.
5. Voting on paying an amount of 3,070,000 Saudi riyals as remuneration to the Board members for the fiscal year ending on 31-12-2024.
6. Voting on authorizing the Board of Directors to distribute interim profits on a semi- or quarterly basis for the fiscal year 2025.
7. Voting on the Board of Directors' recommendation to distribute dividends in the amount of 78,166,668 riyals to shareholders for the second half of the year 2024 at the rate of 1 riyal per share, representing 10% of the capital, provided that the eligibility is for shareholders who own shares at the end of trading on the day of the General Assembly and those registered in Register the company's shareholders with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date. The dividend distribution will be distributed starting from Sunday 15-06-2025.
8. Voting on the Delegation of Authority to the Board of Directors for the General Assembly’s Ordinary Meeting License, as outlined in paragraph (1) of Article 27 of the Companies Law, for a period of one year starting from the date of the General Assembly’s approval or until the conclusion of the term of the authorized Board of Directors, whichever comes first, in accordance with the provisions stipulated in the Executive Regulations of the Companies Law for Listed Joint-Stock Companies.
9. Voting on the Delegation of Authority to the Board of Directors for the General Assembly’s Ordinary Meeting License, as outlined in paragraph (2) of Article 27 of the Companies Law, for a period of one year starting from the date of the General Assembly’s approval or until the conclusion of the term of the authorized Board of Directors, whichever comes first, in accordance with the provisions stipulated in the Executive Regulations of the Companies Law for Listed Joint-Stock Companies, for operations and activities in the fields of vehicle and car rental, road transportation of passengers and goods, and the sale of used cars.
10. Voting on the approval of the Competition Standards and Controls Regulation. (attached)
11. Voting on the participation of the Board member Mr. Abdulwahab Abdulkarim Albetari in a business that competing with the company. (attached)
12. Voting on the participation of the Board member Mr. Ali Hadi Almansour in a business that competes with the company. (attached)
or via e-mail: investor.relations@budgetsaudi.com
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.