Cap Corp will hold its Extraordinary General Meeting (EGM) on Thursday, 11 May  2023, to discuss the ratification of the draft merger agreement by amalgamation with (Al-Safat Investment Company), so that Al-Safat Company is the merging company, and Cap Corp. is the merged company, along with all appendices of the draft merger agreement, including the independent investment advisor’s report, the asset valuation report issued by the independent asset valuator, as well the swap rate that will be received by the Cap Corp’s shareholders, which is half a share (0.5) in Al-Safat Investment Company’s capital in return for one (1) share of Cap Corp. To invest from the total outstanding shares of the shareholders of Cap Corp capital amounting to 20 million shares, after obtaining regulatory approvals.

The EGM will also discuss the approval of the merger through amalgamation between Al-Safat Investment Company and Cap Corp Investment Company, so that Al-Safat Company is the merging company, and Cap Corp is the merged company, through the dissolution of Cap Corp, in line with the provisions of Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments, after receiving regulatory approval.

The EGM also approved the dissolution of Cap Corp and transferring its financial liabilities by merging (assets and liabilities) with all its assets, rights, and liabilities to Al-Safat Investment. This means the dissolution of Cap Corp’s legal personality once the merger procedure is finalized, the Company’s name was written off and its licenses revoked from the joint stock companies department at the Ministry of Commerce and Industry, pursuant to the Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority Regulating Securities Activities, its bylaws and their amendments, and the Companies Law No. (1) of 2016, its Executive Regulations and their amendments.

The company stated that shareholders who wish to attend and participate in the EGM should visit the company's headquarters to obtain invitations, powers of attorney, and agendas. In the event that the quorum is not met, the postponed EGM will take place on Thursday, 18 May 2023, at the same time and location, to discuss the same items on the agenda. This invitation will remain valid for the postponed meetings.