Naseej Announces Failure to Convene General Assembly for Capital Increase

Logo of Naseej International Trading Company

Naseej International Trading Company announced that the Extraordinary General Assembly meeting to increase the company's capital did not convene (the first meeting and the second meeting one hour after the first), due to the lack of the required legal quorum for convening both meetings.

The company added in a statement on Tadawul that a (third) meeting will be called, and the Extraordinary General Assembly (third meeting) will be valid if shareholders attend regardless of the number of shares represented.

It indicated that if the company's shareholders approve the capital increase at the Extraordinary General Assembly meeting, eligibility will be for shareholders who own shares on the day of the Extraordinary General Assembly meeting and are registered in the company's shareholder register with the Securities Depository Center (Edaa) at the end of the second trading day following the date of the Extraordinary General Assembly meeting.

It stated that it will later call the third Extraordinary General Assembly meeting after determining its date and obtaining approval from the relevant authorities.

According to data available on Argaam, the General Assembly was scheduled to vote on the Board of Directors' recommendation issued in October 2025 to increase the company's capital through a rights issue worth 163.5 million riyals, to enable the company to settle financial obligations and support future growth strategy.

It is worth noting that Naseej's General Assembly rejected in January 2024 a capital increase through a rights issue worth 163.5 million riyals.

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