Saudi Kayan Petrochemical Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Saudi Kayan Petrochemical Company (Saudi Kayan) announces the results of the Ordinary General Assembly meeting (the second meeting), which was held at 7:30pm on Thursday 05/8/1442 corresponding to 18/03/2021 an hour after the specified time of the first meeting due to non-completion of the quorum at the meeting. |
| City and Location of the General Assembly's Meeting | Company Headquarters - Jubail Industrial City - Through Contemporary Technology. |
| Date of the General Assembly's Meeting | 2021-03-18 Corresponding to 1442-08-05 |
| Time of the General Assembly's Meeting | 19:30 |
| Percentage of Attending Shareholders | 45.9 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the meeting:
1. Eng. Omar bin Abdullah Al-Amoudi (Chairman of Board) 2. Dr. Waleed bin Ahmed Al-Shalfan (Vice Chairman of Board) 3. Eng. Mohammed bin Abdulrahman Al-Zahrani 4. Eng. Sultan bin Muhammad bin Battal 5. Mr. Yahya bin Issa Al-Ansari 6. Eng. Ali bin Saeed Al-Khuraimi
The following Board members not attended the meeting: 1. Mr. Tariq bin Abdullah Al-Abdulhadi. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Chairman of the Audit Committee:
Dr. Waleed bin Ahmed Al-Shalfan
2. Chairman of the Remuneration and Nominations Committee: Mr. Yahya bin Issa Al-Ansari
3. Chairman of the Risk Committee: Eng. Ali bin Saeed Al-Khuraimi |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approve the External Auditor Report for the fiscal year ended on 31/12/2020.
2. Approve the the Financial Statements for the fiscal year ended on 31/12/2020.
3. Approve the Board of Directors Report for the fiscal year ended on 31/12/2020.
4. Approve appointing KPMG Al Fozan & Partners auditor for the Company from among the candidates nominated based on the recommendation of Audit Committee to review and audit financial statements of the second quarter, third quarter, fourth quarter and the annual of the fiscal year 2021. In addition to the first quarter of the fiscal year 2022 and determine the fees.
5. Approve the discharge of the Board of Directors members for the fiscal year ended 31/12/2020.
6. Approve the disbursement of SAR 1,400,000 as remuneration to the Board members for the fiscal year ended on 31/12/2020.
7. Approve the election members of the Board of Directors among them there will be four members appointed by the Saudi Basic Industries Corporation (SABIC) for the next term, which begins on 20/03/2021 for a period of three years ending on 19/03/2024. They are as follows: 1) Eng. Ahmed Trais Al-Shaikh - Representative of the Saudi Basic Industries Company (Sabic) – Non-executive (Chairman of Board). 2) Eng. Mohammed Abdulrhman Al-Zahrani - Representative of the Saudi Basic Industries Company (Sabic) – Non-executive (Vice Chairman of Board). 3) Dr. Waleed Ahmed Al-Shalfan - Representative of the Saudi Basic Industries Company (Sabic) – Non-executive. 4) Mr. Khalid Ali Al-Garni - Representative of the Saudi Basic Industries Company (Sabic) – Non-executive. 5) Mr. Bashar Talal Kayyali – Independent. 6) Mr. Ahmed Ali Abu Talaf – Independent. 7) Eng. Ahad Abdulaziz Awaidha – Independent.
8. Approve the formation of the Audit Committee and on its role, responsibilities, processes and the remuneration of its members for the new term, which begins on 20/03/2021 for a period of three years ending on 19/03/2024. They are: Dr. Waleed Ahmed Al Shalfan Mr. Khalid Ali AlGarni Mr. Bashar Talal Kayyali Mr. Yahya Issa Al-Ansari |
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