Report Concerning the
General Assembly Meeting
- Company Name: Eshraq Investments PJSC
❑ | Date: | Monday 01/08/2022 | |
❑ | Time: | From: 02h00 pm to: 02h30 pm | |
❑ | Location: | Via Video & Audio Conference | |
❑ | Type of Meeting: | General Assembly | |
Designation | Names of Board of Directors | ||
Chairman | Mr. Jassim Mohamed Alseddiqi | ||
Vice-chairman | Dr. Saleh Hashem Alhashemi | ||
Member | Mr. Fraih Saeed Alqubaisi | ||
Member | Mr. Jasim Hussain Al Ali | ||
Delegated Member | Mr. Ajit Vijay Joshi | ||
Member | Mrs. Maha Alfahim | ||
Member | Mr. Omar Zeyad Galadari |
A- Chairmanship of the General Assembly Meeting
The Chairman of the Company, Mr. Jassim Alseddiqichaired the meeting and he requested from Mr. Ziad Touma, the General Counsel and the Compliance officer of the Company, to serve as Rapporteur. The meeting was also attended by Mr. Ahmed Alnaqbi,representative of SCA, by Mr. Yahia Shatilarepresentative of the Auditors of the Company, M/s. Deloitte & Touche (M.E.), and Mr. Moataz Alqadi, the representative of the scrutator, First Abu Dhabi Bank.
All the attendees attended via Audio and Video Conference
ADX/LC | 1 | )1( قفرم |
B- Agenda for General Assembly Meeting - Normal Resolution
Item 2 of the published Agenda | Approved | Not |
Approved | ||
To approve the recommendation of the Board of Directors | ||
of the Company to transfer the current Company's | ||
financial assets portfolio to the Goldilocks fund, and this | ||
subsequent to the execution of the acquisition of | ||
approximately 99.2% of Goldilocks Investment Company | ||
Ltd that was previously approved by the General Assembly, | Yes | |
as an in-kind contribution to consolidate all its financial | ||
holdings under a single entity and to constitute a larger | ||
and more efficient portfolio so that the ownership of | ||
Eshraq Investment PJSC in Goldilocks Investment | ||
Company Ltd following the transfer of the ownership of the | ||
contributed assets shall become 99.4% or higher. |
C- Agenda for General Assembly Meeting - Special Resolution
Item no. 1 of the published agenda | Approved | Not | ||||||
Approved | ||||||||
Yes | ||||||||
By Special Resolution: By Special Resolution: To | (at the majority | |||||||
approve the recommendation of the Board of Directors for | ||||||||
the Company to buyback a number of its shares, | not | vote of | ||||||
exceeding 10% of the total number of shares, with | the | 97.1877%, | ||||||
which is in | ||||||||
intention of disposing them in accordance with | the | |||||||
excess of | ||||||||
decision issued by the Securities and Commodities | ||||||||
required 75% of | ||||||||
Authority ("SCA") in this regard, and vest the Board of | ||||||||
Directors of the Company with the following powers: | the attendees) | |||||||
A) To execute this decision of the General Assembly | ||||||||
within the period approved by SCA; and | ||||||||
B) Reduce the Capital of the Company by cancelling | ||||||||
the purchased shares and accordingly amend the | ||||||||
clause related to the capital in the Articles of | ||||||||
Association of the Company in case the deadline set | ||||||||
by SCA for the disposition of the purchased shares | ||||||||
has expired. | ||||||||
ADX/LC | 2 | )1( قفرم |
D- Others
Concerning item 1 of the Agenda- Special Resolution
The General Assembly vested the Board of Directors of the Company with the following powers and this for a period of four (4) years ending on 31/07/2026:
- To execute this decision of the General Assembly within the period approved by SCA; and
- Reduce the Capital of the Company by cancelling the purchased shares and accordingly amend the clause related to the capital in the Articles of Association of the Company in case the deadline set by SCA for the disposition of the purchased shares has expired.
Concerning item 2 of the Agenda- Normal Resolution
The General Assembly vested any Member of the Board Directors of the Company, acting jointly or individually, the widest powers to executed Item no. (2) of the Agenda and to sign any contract, document, certificate letter or agreement, including any transfer of ownership, assignment, novation, amendment, etc and this until completing the implementation of the contribution of all the financial assets of the Company to Golidlocks Investment Company Limited. This mandate is granted for (3) three years ending on 31/07/2025
NAME OF THE COMPANY: | ESHRAQ INVESTMENTS PJSC | ||||
Chairman/Chairperson: | Mr. Jassim Alseddiqi | ||||
Delegated Member of the Board: | Mr. Ajit Joshi | ||||
Date: | 01/08/2022 | ||||
No. of outstanding | No. of issued | Total reno. of | |||
Percentage % | shares after | ||||
shares | shares | ||||
increase | |||||
2,325,000,000 | N/A | N/A | N/A | ||
Last Entitlement Date (LED) | Ex - Dividends | Registry Closing | |||
Date (EXD) | Date (RCD) | ||||
N/A | N/A | N/A |
ADX/LC | 3 | )1( قفرم |
Right issue
No. of outstanding | No. of issued | Total no. of | ||||||
Percentage % | shares after | |||||||
shares | shares | |||||||
increase | ||||||||
2,325,000,000 | N/A | N/A | N/A | |||||
Last Entitlement Date (LED) | Ex - Dividends | Registry Closing | ||||||
Date (EXD) | Date (RCD) | |||||||
N/A | N/A | N/A | ||||||
Cash Dividends | ||||||||
Percentage | Value | |||||||
N/A | N/A | |||||||
Last Entitlement Date (LED) | Ex - Dividends | Registry Closing | ||||||
Date (EXD) | Date (RCD) | |||||||
N/A | N/A | N/A | ||||||
Stock Split | ||||||||
Par value | No. of outstanding shares | |||||||
Before the split | After the split | Before the split | After the split | |||||
N/A | N/A | N/A | N/A |
Date: 01/08/2022
Chairman
Jassim Alseddiqi
Note:
- Last Day to Participate: Last Day to buy the stocks to be eligible for the dividends.
- Ex-DividendsDate (EXD): The day following the last Entitlement date and excluding from dividends
- Record Date: The date on which registered shareholders worth in stock profits registered or any other decisions.
- Payment Date: The date on which a declared Dividends to be paid.
ADX/LC | 4 | )1( قفرم |
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Disclaimer
Eshraq Properties Co. PJSC published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 13:54:09 UTC.