Hayat Investment Company will hold its Extraordinary General Meeting (EGM) on Tuesday, January 25, 2022, at the company’s headquarters, to discuss the amendment of Article (15) of its Articles of Association as follows:
The article before amendment:
The company’s board of directors consists of (6) members elected by the general assembly by secret ballot. The majority of the board members are non-executive members and must include independent members, provided that their representation does not exceed half of the board members. Independent members of the board don’t have to be shareholders in the company. All shareholders, individuals, or legal entities, may cast their votes to elect board members pro rata to the number of shares they own. Shareholders who are represented on the Board of Directors may not participate with the other shareholders in the election of the remaining members of board members except within the remaining available limits for the appointment of their representatives. A group of shareholders may form a coalition with each other to appoint representative(s) on the board of directors, pro rata to their combined ownership. These representatives shall have the same rights and duties as the elected members.

The Amended Article:
The company’s board of directors consists of (6) members elected by the general assembly by secret ballot. The majority of the board members are non-executive members and must include independent members, provided that they do not exceed half of the board members. Independent members of the board don’t have to be shareholders in the company. All shareholders, individuals, or legal entities, may cast their votes to elect board members pro rata to the number of shares they own. Shareholders who are represented on the Board of Directors may not participate with the other shareholders in the election of the remaining members of board members except within the remaining available limits for the appointment of their representatives. A group of shareholders may form a coalition with each other to appoint one or more representatives on the board of directors, pro rata to their combined ownership. These representatives shall have the same rights and duties as the elected members. Shareholders shall be responsible for the work of their representatives towards the company, creditors, and shareholders. If the quorum wasn’t met,  the EGM will be scheduled to assemble at the same location to discuss the same items listed on its agenda on Thursday, February 10, 2022 at 12:30 pm, provided that attendees represent  over half of the issued capital.