Abdullah Al-Othaim Markets Company announces the results of the second Extraordinary General Assembly Meeting Which was held in Al-Othaim Training Academy in Riyadh at 10 pm on Sunday, July 29, 2012 and with the presence of the general assembly quorum. The results of voting on the Assembly agenda was as follows:
1. Approving the Board of Directors Annual Report for the fiscal year ended December 31, 2011.
2. Approving the financial statements and the Auditors' report for the fiscal year ended December 31, 2011.
3. Discharging the members of the Board of Directors for the fiscal year ended December 31, 2011.
4. Approving the contracts and transactions between the Company and Al-Othaim Holding Co. and Abdulla Al-Othaim Real Estate Investment & Development Company as related parties to the chairman of the board Mr. Abdullah Saleh Al-Othaim and the board member Mr. Fahad Abdullah Al-Othaim and grant permission for the next year.
5. Approving the appointment of Deloitte & Touch Bakr Abu Al-Khair & Co. proposed by the Audit Committee as auditors of the Companys to audit the financial statements for the fiscal year 2012 and determine their fees.
6. Not Approving the acquisition of 100% of the shares of Abdullah Al-Othaim Real Estate Investment and Development Company and increasing the capital of Abdullah Al-Othaim Markets Company from 22,500,000 shares to 29,753,303 shares, and from SR 225,000,000 to SR 297,533,030 by issuing 7,253,303 shares at SR 97.75 per share amounting to SR 709,010,368, which represents 32.24% of the Companys share capital. The additional shares will be allocated to the selling shareholders of Abdullah Al-Othaim Real Estate Investment and Development Company at the swap rate of one share against 7.4109 shares of Abdullah Al-Othaim Real Estate Investment and Development Company in order to acquire all the issued shares of the target company, and not amending articles seven and eight of the Company bylaws accordingly
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