GO Telecom issues clarifying addendum regarding dividends proposal
GO TELECOM
7040 -0.82% 90.70 -0.75
Riyadh – Mubasher: Etihad GO Telecom Company has released an addendum announcement through the Saudi Exchange (Tadawul) to clarify the procedural timeline of its Board of Directors' recommendation for cash dividend distributions.
The disclosure focuses on the governance steps taken to finalize the recommendation for the fiscal year that concluded on 31 March 2026, ensuring that shareholders and regulatory bodies are fully informed of the internal decision-making schedule.
In a detailed filing with the Saudi Exchange, Etihad GO Telecom provided further context to its previous announcement dated 23 June 2026.
The core of the addendum addresses the specific dates and methods by which the Board of Directors reached its decision to propose a cash dividend to the company’s General Assembly.
A resolution by circulation is a standard corporate governance mechanism that allows a board of directors to pass significant decisions without the requirement of a physical or synchronous meeting, provided that the resolution is shared among all members and the necessary legal and administrative thresholds are met.
GO Telecom clarified that while the resolution process began on 22 June, the formal quorum of signatures required to validate and finalize the decision was completed on the following day, 23 June 2026.
This procedural clarification is intended to align the company's public records with its internal governance logs.
The company noted that the original announcement on the Saudi Exchange website was published on 23 June 2026, immediately following the completion of the board members' signatures.
By detailing the 24-hour window between the initiation of the resolution and its finalization, the company maintains a high standard of transparency regarding the timeline of its corporate actions.
The recommendation specifically concerns the distribution of cash dividends for the fiscal year ending 31 March 2026.
As a company with a fiscal year that does not align with the standard calendar year, GO Telecom’s reporting and dividend cycles occur during the second quarter of the calendar year.
This timing is critical for investors who track the company’s performance and capital return strategies.
Regarding the financial impact of this specific addendum, Etihad GO Telecom has explicitly stated that there is no financial effect resulting from this clarification.
The update is purely administrative and procedural in nature, aimed at providing a more precise chronological account of the board's activities.
The underlying recommendation for the dividend distribution remains unchanged and continues to be subject to the final approval of the company’s shareholders during the upcoming General Assembly meeting.
Source: Mubasher Source: {{details.article.source}}