Sahara International Petrochemical Company announcement of the results of the fourteenth Extraordinary General Assembly (First Meeting)

25 May 2021 08:42 AM

SIPCHEM 2310 3.99% 33.85 1.30

Element List	Explanation
Introduction	Sahara International Petrochemical Company (Sipchem) announces the results of the fourteenth Extraordinary General Assembly meeting (the First Meeting), which was held at seven thirty (19:30) on the evening on Monday 12/10/1442H corresponding to 24/05/2021 through the means of modern technology (Remote voting), after securing the required quorum.
City and Location of the General Assembly's Meeting	The EGM was held virtually using video conferencing means.
Date of the General Assembly's Meeting	2021-05-24 Corresponding to 1442-10-12
Time of the General Assembly's Meeting	19:30
Percentage of Attending Shareholders	52.58
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees	The President and all the members of the Board of Directors attended the Assembly meeting via modern technology, as follows: 1- Engr. Khalid bin Abdullah Al-Zamil (Chairman of the Board of Directors) 2- Mr. Fahad Bin Sulaiman Al Rajhi (Vice Chairman of the Board of Directors) 3- Dr. Abdul Rahman bin Abdullah Al-Zamil 4- Engr. Yousuf bin Abdul Rahman Al-Zamil 5- Engr. Saeed bin Omer Al-Eisayi 6- Engr. Riyad bin Salim Al-Idreesi 7- Mr. Saeed bin Ahmed Basamah 8- Mr. Ayed bin Mohammed Al-Qarni 9- Mr. Bandar bin Ali Masoodi 10- Mr. Ziyad bin Abdul Rahman Al-Turky 11- Mr. Abdul Aziz bin Ahmed bin Dayel
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf	Mr. Ayed Mohammed Al-Qarni (Chairman of the Audit Committee) Mr. Ziyad bin Abdul Rahman Al-Turky (Chairman of the Remuneration and Nominations Committee) Engr. Yousuf Abdul Rahman Al-Zamil (Chairman of the Executive Committee) Mr. Abdul Aziz bin Ahmed bin Dayel (Chairman of the Governance Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's	1. Approving the Board of Director’s report for the fiscal year ending on 31/12/2020. 2. Approving the financial statements for the year ended 31/12/2020. 3. Approving the auditors' report for the year ended as of 12/31/2020. 4. Approving to absolve the members of the Board of Directors from any liability for the past year 2020. 5. Approving the dividends distributed for the year 2020 with a total amount of SAR (366,666,666), which is equal to a total of (50) Halalah per share, representing (5%) of the capital. 6. Approving the disbursement of (4,557,143) four million and five hundred and fifty-seven thousand one hundred and forty-three Riyals as remuneration of the Board of Directors for the fiscal year 2020. 7. Approving to appoint KPMG Al-Fawzan & Partners as the Company auditors from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third quarter and the annual of the fiscal year 2021 AD and the first quarter of the fiscal year 2022 AD and its fees. 8. Authorizing the Board of Directors to distribute interim quarterly (quarter/ half) annual profits for the fiscal year 2021. 9. Approving the Company's purchase of up to (66,347,931) of its shares and allocating them as treasury shares, and authorizing the Board of Directors or whoever it authorizes to complete the purchase within a maximum period of twelve months from the date of the Assembly's approval and retaining the treasury shares for a maximum period of 5 years from the date of the General Assembly's resolution. 10. Approving amending Article (05) from the Company’s Bylaw regarding the Company Head Office. 11. Approving amending Article (17) from the Company’s Bylaw regarding purchasing the Company shares. 12. Approving amending the regulations of Audit Committee Charter. 13. Approving amending the regulations of Nomination and Remuneration Committee Regulation. 14. Approving the regulations of Competition Standards and Controls.

Comments