Corporate governance regulations mandate a specific minimum notice period for convening general assemblies to ensure shareholders have sufficient time to prepare. The period between the date of the invitation and the scheduled date for the first meeting of the ordinary general assembly must not be less than 21 days. This timeframe allows for the proper dissemination of information, review of the agenda and associated documents, and arrangement for attendance or proxy voting. This requirement is a fundamental shareholder right stipulated in company laws and governance codes to facilitate informed participation and decision-making.

A. A notice period of 20 days is shorter than the legally stipulated minimum and would render the meeting notice invalid.

C. While a longer period like 30 days is permissible, it is not the prescribed minimum requirement for an ordinary general assembly.

1. Kingdom of Saudi Arabia, Ministry of Commerce. (2022). The Companies Law. Royal Decree No. (M/132). Article 90. "The invitation to convene the general assembly shall be published in the manner prescribed in the company’s bylaws, provided that the invitation is at least (21) twenty-one days prior to the date set for the meeting."

2. Kingdom of Saudi Arabia, Capital Market Authority. (2023). Corporate Governance Regulations. Resolution of the Board of the Capital Market Authority Number (8-16-2017). Article 33(a). "The invitation to convene the General Assembly shall be announced in accordance with the provisions of the Companies Law and its Implementing Regulations, provided that the announcement is at least twenty-one (21) days prior to the date set for the meeting."