The Board of Directors of TAM Development Company invites shareholders to attend the extraordinary general assembly meeting (first meeting)

Element List	Explanation
Introduction	The Board of Directors of TAM Development Company is pleased to invite shareholders to participate and vote in the Extraordinary General Assembly meeting (first meeting), which is scheduled to be held via modern filtering methods at exactly (20:00) on Tuesday 12/05/1445 AH corresponding to 6/11/2024 AD.
City and Location of the General Assembly's Meeting	At the company's main headquarters in Riyadh, using modern technology using the Tadawulati platform.
Hyperlink of the Meeting Location	Click Here
Date of the General Assembly's Meeting	2024-06-11 Corresponding to 1445-12-05
Time of the General Assembly’s Meeting	20:00
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 shareholder has the right to delegate whomever other than the board of directors. The right to register a name to attend the general assembly meeting ends at the time of convening 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	The extraordinary general assembly meeting is not valid unless it is attended by shareholders representing (at least half) of the company’s shares that have voting rights. If the necessary quorum is not present in the first meeting, the second meeting shall be held one hour after the end of the period specified for holding the first meeting. In all cases, the second meeting shall be considered valid if it is attended by shareholders representing (a quarter) of the company’s shares that have voting rights.
General Assembly Meeting Agenda	1) Vote on the company’s auditor’s report for the financial year ending on December 31, 2023 AD after discussing it. 2) Review and discuss the Board of Directors’ report for the financial year ending on December 31, 2023. 3) Review and discuss the financial statements for the fiscal year ending on December 31, 2023. 4) Vote on discharging the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023. 5) Vote on appointing an auditor for the company from among the candidates based on the recommendation of the Audit Committee to examine, review and audit the semi-annual and annual financial statements for the fiscal year 2024 AD, and determine his fees. 6) Vote on authorizing the Board of Directors to distribute cash dividends (semi-annually and quarterly) to shareholders for the fiscal year 2024. 7) Voting on the business and contracts concluded between TAM Development Company and Bupa Arabia, for which the Vice Chairman of the Board of Directors, Eng. Ali Muhammad Saadi Schneimer has an indirect interest in it, as he works as the CEO of Business Development at Bupa Arabia, as well as a member of the Board of Directors, Dr. Abdullah Nadeem Muhammad Elias has an indirect interest in it, as he serves as a member of the board of directors of Bupa Company, with which TAM has concluded a health insurance contract for the benefit of the company’s employees. The value of dealing with the company amounted to: 1,857,505 Saudi riyals during the year 2023. 8) Voting on the business and contracts concluded between TAM Development Company and Karim Information Technology Transportation Company, for which Board of Directors member Dr. Abdullah Nadeem Muhammad Elias has an indirect interest in it, which is that he is a founding partner of the Careem Information Technology transportation company, which provides TAM with a transportation service for the company’s employees. The value of dealing with the company amounted to: 305,171 Saudi riyals during the year 2023. 9) Voting on the Board of Directors’ recommendation to distribute cash dividends in the amount of (4,051,620 Saudi riyals) to shareholders for the financial year ending on (December 31, 2023) at a rate of (1.23 riyals) per share, at a rate of (12.3%) of the nominal value of the share. Eligibility will be for shareholders who own shares at the end of trading on the day of the General Assembly and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Edaa) at the end of the second trading day following the entitlement date. The dividend distribution date will be announced later. 10) Vote on the Board of Directors’ recommendation to transfer the balance of the statutory general reserve amounting to (6,320,238 riyals, six million three hundred and twenty thousand two hundred and thirty-eight Saudi riyals), and transfer the other reserve amounting to (3,078,000 riyals, three million and seventy-eight thousand Saudi riyals) as in the lists Financial statements for the year ending 12/31/2023 AD in full to the balance of retained earnings. 11) 11) Vote on disbursing an amount of (540,000) riyals as a reward to members of the Board of Directors for the financial year ending on December 31, 2023 AD.
Proxy Form
The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right	Shareholders have the right to discuss the topics on the Assembly’s agenda and ask questions. Shareholders registered in Tadawulati services will be able to vote remotely on items on the Assembly’s agenda starting at one o’clock (01:00) in the morning on June 7, 2024 AD, corresponding to Dhu al-Hijjah 1 /1445 AH until the end of the meeting time, and registration and voting in Tadawulaty services will be available and free of charge to all shareholders using the following link: www.tadawulaty.com.sa
Details of the electronic voting on the Assembly’s agenda	The right to register attendance at the association meeting ends at the time of the association meeting. The right of attendees to vote on the assembly’s items ends when the screening committee finishes counting the votes.
Method of Communication in Case of Any Enquiries	If you have any inquiries or questions regarding the association’s agenda, we hope to contact the Investor Relations Department: Email: IR@TAM.SA
Additional Information	N / A
Attached Documents