Date 07/09/2022AD

On September 6, 2022, the Board of Directors of Computer Trading Company recommended to the Extraordinary General Assembly that the capital be increased by 100% by granting shares to shareholders, capitalizing 14 million riyals from retained earnings and granting one share for each share owned by shareholders, as shown in the table below:

Specifics on the capital increase

14 million riyals is the current capital.

Shares available 1.4 million common shares

100% capital growth

The method of increase is to capitalize 14 million riyals from retained earnings and grant one share for every one share held by the shareholder at the time of maturity.

After the increase, the capital is 28 million riyals.

Following the increase, the number of shares was 2.8 million.

Causes of the increase The capital increase aims to support the company's future activities by promoting expansion and growth while maximizing total return to shareholders.

Morse Holdings Company's foundation system (closed joint stock company)

Chapter One: Company Transformation:

The First Article: Transformation:

Morse Holding Company, which is registered in the commercial registry in Jeddah with No. (4030380493) dated 04/09/1441 AH, is transferred from a holding company to a company in accordance with this system and the provisions of the Companies Law issued by Royal Decree No. (M/3) dated 28/01/1437 AH and its regulations. Contribution was completed as follows:

Article 2: Morse Information Technology Holdings is the name of the company (Closed Joint Stock Company).

Article Three: The Company's Goals:

The following goals are carried out and implemented by the company: 1- Managing its affiliated companies or participating in the management of other companies to which it contributes and providing the necessary support to them.

2- Investing in stocks and other securities.

3- Having the necessary real estate and movables to carry out its activity.

4- Possessing and exploiting industrial property rights such as patents, trademarks, industrial rights, franchises, and other moral rights, as well as renting them to subsidiaries or others.

5- Restaurant and cafe management, design and operation of electronic applications

The company conducts its operations in accordance with the applicable regulations and after obtaining any necessary licenses from the relevant authorities.

Article Four: Company Participation and Ownership: The company may participate in other companies and establish its own companies (with limited liability or closed joint stock) if the capital is not less than (5) million riyals. It may also own stock and shares in other existing companies, merge with them, and participate with others. After fulfilling the requirements of the regulations and instructions followed in this regard, joint stock or limited liability companies may be formed. The company may also dispose of these shares or shares, as long as there is no mediation in their trading.

Article 5: The company's headquarters:

The company's headquarters are in the city of (Jeddah) in the Kingdom of Saudi Arabia, and the Board of Directors may establish branches, offices, or agencies for it inside or outside the Kingdom of Saudi Arabia, or write it off.

Article Six: Company Duration:

The company's term is (99) ninety-nine Gregorian years beginning with the date of its incorporation as a joint stock company, and this period may always be extended by a decision issued by the extraordinary general assembly at least one year before its term expires.

Capital and Shares (Chapter 2)

Article 7: Capital: The capital of the company is (500,000) five hundred thousand Saudi riyals, divided into (50,000) fifty thousand nominal shares of equal value, the value of which is (10) Saudi riyals, all of which are ordinary shares in kind.

Article VIII: Share Subscription:

The shareholders have fully paid for the entire capital of (50,000) fifty thousand shares, with a total value of (500,000) five hundred thousand Saudi riyals.

All of the materials detailed in the system's annex are listed below:

Article 9: Unregistered Shares for Sale:

Article ten: Share Issuance:

Article Sixteen: Business Management:

Article Seventeen: Board Membership Termination:

Article Eighteen: Vacant Council Position:

Article Nineteen: Council Powers:

Article 20: Board Member Compensation:

Article 21: Authority of the Chairman, Deputy, Managing Director, and Secretary:

Article 20.2: Board Meetings:

Article 23: Quorum for the Board Meeting:

Article 24: Deliberations of the Council:

Article 25: Assembly Attendance:

Article 26: Assembly for Transformation:

Article 27: Transformational Association Functions:

Article 28: The Ordinary General Assembly's Functions:

Article 29: Extraordinary General Assembly Functions:

Article 30: Association Invitation:

Article 31: Assembly attendance records:

Article 32: Quorum for the Meeting of the Ordinary General Assembly:

Article 33: Extraordinary General Assembly Meeting Quorum:

Article 34: Assembly Voting:

Article 35: Assemblies' Decisions:

Article 36: Assembly Deliberation:

Article 37: Association presiding and preparation of minutes:

Article 38: Committee Formation:

Article 39: Quorum for committee meetings:

Article 40: Duties of the Committee:

Article 41: Reports of Committees:

Article 42: Auditor Appointment:

Article 43: Auditor's Authority:

Article 44: Financial year:

Article 45: Financial Records:

Dividend Distribution (Article 46):

Article 47: Dividend Eligibility:

Article 48: Business losses:

Liability claim: Article 49

Article 50: The Company's Expiration:

51st Article: