Saudi Arabian Mining Company (Maaden) announced on Wednesday that it invited shareholders to participate and vote at its 16^th Ordinary General Assembly Meeting, scheduled for Oct. 14, to elect Board members from among the nominees for the next three-year term, which will run from Oct. 25, 2026 to Oct. 24, 2029.

Shareholders will also vote on the business and contracts between Maaden Gold & Base Metals Holding Company, a wholly owned subsidiary of Maaden, and Saudi Aramco Development Company, a wholly owned subsidiary of Saudi Arabian Oil Company (Saudi Aramco), in which Board members H.E. Yasir O. Al-Rumayyan, in his capacity as Chairman of Saudi Aramco, and Mohammed bin Yahya Al-Qahtani, in his capacity as a senior executive at Saudi Aramco, have an indirect interest.

The transaction involves a shareholders' agreement to establish a joint venture to develop and exploit mineral resources in the Arabian Shield. The new company will have initial paid-up capital of SAR 197.5 million, with no preferential terms.

Shareholders registered in the company's shareholder register with the Securities Depository Center Company (Edaa) at the end of the trading session preceding the Ordinary General Assembly Meeting will be eligible to attend, in accordance with applicable laws and regulations.

The right to register attendance will end when the meeting begins, while the right of attendees to vote on the agenda items will end once the vote-counting committee completes the counting of votes.

Under Article 30 of Maaden's Bylaws, the Ordinary General Assembly Meeting will be valid if attended by shareholders representing at least one-quarter of the company's share capital.

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