Methanol Chemicals Co. Announces the Results of the Ordinary General Assembly Meeting, (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Methanol Chemicals Company (Chemanol) is pleased to announce to the Company’s shareholders the results of the Ordinary General Assembly Meeting (second meeting), held on Wednesday 28/10/1442 H. Corresponding to 09/06/2021 at 8:00 pm. via modern technology means provided by Tadawulaty at the Company’s Head Office in Jubail Industrial City. Due to lack of quorum, the second meeting was held after one hour of the scheduled time for the first meeting and the attendance was 11.37% of the Company’s total share capital. |
| City and Location of the General Assembly's Meeting | Jubail Industrial City - Company's Head Office |
| Date of the General Assembly's Meeting | 2021-06-09 Corresponding to 1442-10-28 |
| Time of the General Assembly's Meeting | 20:00 |
| Percentage of Attending Shareholders | 11.37% |
| 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. Mr. Abdullah Ali Al-Sanea ( Chairman) 2. Mr. Sami Abdul Aziz al-Suwaigh ( Vice Chairman) 3. Eng. Saud Abdullah Al-Sanea (Board Member) 4. Mr. Abdullah Abdul Rahman Bu-Ali (Board Member) 5. Mr. Mohammed Farhan Al Nader (Board Member) 6. Mr. Adel Saleh Al Ghassab (Board Member) 7. Eng. Abdul Salam Mazro Al Mazro (Board Member) 8. Mr. Yassir Abdul Rahman Alluhaidan (Board Member) 9. Mr. Zeyad Abdul Latif. Al barrak (Board Member) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Mr. Abdullah Ali Al-Sanea (Chairman of Board and Executive Committee)
2. Mr. Mohammed Farhan Al Nader (Chairman of Audit Committee) 3. Mr. Sami Abdul Aziz al-Suwaigh ( Chairman of Nomination and Remuneration Committee) 4. Eng. Abdul Salam Mazro Al Mazro (Chairman of Marketing Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the Board of Directors' report for the fiscal year ending on 31/12/2020.
2. Approval of the auditor/s report on the Company’s accounts for the fiscal year ending on 31/12/2020. 3. Approval of the financial statements for the fiscal year ending on 31/12/2020. 4. Approval of discharging the Board members from liability for the fiscal year ending on 31/12/2020. 5. Approval of appointing Messrs. / Ernst & Young and Partners as external auditors for the Company from among the nominees based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the second, third, and fourth quarters and annual financial statements of the fiscal year 2021 and the first quarter of the fiscal year 2022, as well as determining their fees. 6. Approval of delegating the Board of Directors with the authorization powers of the Ordinary General Assembly stipulated in paragraph (1) of Article 71 of the Companies Law, for a period of one year starting from the date of the approval by the General Assembly or until the end of the delegated Board of Directors’ term, whichever is earlier, in accordance with the conditions set forth in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies. 7. Approval of the Standards of the Competition of the Board Member with the Company’s Business. |
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