the board of directors of Methanol Chemicals Company is pleased to invite its shareholders owning 20 shares or more to attend Ordinary general assembly Meeting to be held in the Novotel Hotel , Dammam on 22-04-2015 corresponding to 03-07-1435 at 16:00 to consider the following agenda:
1/To approve the Board of Directors Report for the financial year 2014
2/To approve the Balance Sheet, Profit and Loss Account and the Auditors Report for the financial year ended on 31/12/2014
3/To approve the Board of Directors recommendation not to distribute dividends for the financial year ended on 31/12/2014 to support the financial position of the Company and to enhance its strategic plans
4/To approve the business and contracts concluded between the Company and related parties during the financial year ended on 31/12/2014 and the authorization for these contracts for one more year Such business and contracts are detailed below
a)Purchase of spare parts from Yusuf Bin Ahmed Kanoo Company for SAR 272,359 represented in the Board of Directors by Mr Badr Abdul Aziz Kanoo and Mr Mishaal Ali Kanoo
b)Purchase of formic acid from Yusuf Bin Ahmed Kanoo Company for SAR 132,176 represented in the Board of Directors by Mr Badr Abdul Aziz Kanoo and Mr Mishaal Ali Kanoo
c)Inspection services for tanks from Yusuf Bin Ahmed Kanoo Company for SAR 27,322 represented in the Board of Directors by Mr Badr Abdul Aziz Kanoo and Mr Mishaal Ali Kanoo
d)Purchase of air conditioning units from Zamil Cool Care for SAR 593,980 represented in the Board of Directors by Mr Khaled Bin Abdullah Al Zamil and Adib Bin Abdullah Al Zamil
e)Inspection and maintenance services for Company plants by Zamil Inspection and Maintenance of Industrial Projects Company for SAR 524,878 represented in the Board of Directors by Mr Khaled Bin Abdullah Al Zamil and Adib Bin Abdullah Al Zamil
f )Purchase spare parts from Zamil Holding company for SAR 3,458 represented in the Board of Directors by Mr Khaled Bin Abdullah Al Zamil and Adib Bin Abdullah Al Zamil
5/To release the Members of the Board of Directors from liability for their activities during the financial year ended on 31/12/2014
6/To approve the appointment of the Auditor and determination of their annual and quarterly fees for the financial Year 2015 based on the recommendation of the Audit Committee.
7/To elect Board members for the new period starting from 12/11/2015 to 11/11/2018 by ordinary voting according Chemanol bylaws

The quorum necessary for the meeting to be in session should be attended by the shareholders representing 50% of the company's capital. Each shareholder owning 20 or more shall have the right to attend the general assembly meeting whether in person or by proxy, subject to presentation of corroborating evidence or a written power of attorney endorsed by the chamber of commerce authorizing another shareholder, other than the member of the board of directors or employees of the company, to attend the general assembly meeting on their behalf and it should be sent to and delivered to the company prior 3 day of the meeting. Contact details : Methanol Chemicals Company Novotel Business Park Dammam/ Khobar Highway PO Box 3139 Dammam 31471 c/o Secretary Board of Directors