Sahara Petrochemical Co. announces the results of shareholder Fifth Exordinary general assembly meeting (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Sahara Petrochemicals Company announces the results of its Fifth General Assembly Meeting (Second Meeting), which was held on Monday April 15, 2019 at 20:00 in the Marriott Hotel in Riyadh, and chaired by Eng. Saleh Bahmdan |
| City and Location of the General Meeting | Marriott Hotel Makarim Hall –Riyadh |
| Date of the General Meeting | 2019-04-15 Corresponding to 1440-08-10 |
| Time of the General Meeting | 20:00 |
| Percentage of Attending Shareholders | 41.848 % |
| Voting Results on the Agenda | 1. Approved on Board report for the fiscal year 2018
2. Approved on auditors report for financial year ended 31/12/2018
3. Approved on the consolidated financial statements for the fiscal year ended 31/12/2018
4. Approved on the appointment of the external auditor BDO Dr. Mohamed Al-Amri as the financial auditor for the fiscal year 2019 to audit the company year end accounts, in addition to the second and third quarter financial statements 2019 and first quarter 2020 and determining its fees
5. Approved on discharging the members of the Board of Directors from liability for the fiscal year ended 31/12/201.
6. Approved on the Board of Directors remuneration (SR 3,975,000) for the fiscal year ended on 31 December 2018.
7. Approved on the Board of Directors 'resolutions distributed by shareholders' dividends for the first and second half of the fiscal year ended 31/12/2018 amounted to SR 438.8 million (10%) of the share capital.
8. Approved to authorize the Board of Directors to distribute quarterly or semi-annual dividends for the fiscal year 2019, and to determine the maturity date and disbursement in accordance with the regulatory controls and procedures issued in implementation of the Companies Law in line with the company's financial position, cash flows and expansion plans.
9. Approved on the Amendment of Article (30) of the Articles of Association of the Company concerning the invitation to general assemblies.
10. Approved on the amendment of Article (41) of the Articles of Association of the Company concerning the reports of the Committee
11. Approved on the amendment of Article (45) of the Articles of Association of the Company relating to financial documents |
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