Natural Gas Distribution Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of the Natural Gas Distribution Company is pleased to announce the results of the Extraordinary General Assembly meeting (first meeting). Where the meeting was held at 7:30 pm on Wednesday, 9/11/1443 AH, corresponding to 06/08/2022 AD, by means of modern technology. |
| City and Location of the General Assembly's Meeting | The company's headquarters - by means of modern technology (remotely) |
| Date of the General Assembly's Meeting | 2022-06-08 Corresponding to 1443-11-09 |
| Time of the General Assembly's Meeting | 19:30 |
| Percentage of Attending Shareholders | 6288 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following board members:
His Excellency Mr. Majid Abdulrahman Al-Osailan (Chairman of the Board of Directors) His Excellency Eng. Abdulrahman Abdulaziz bin Suleiman (Vice Chairman of the Board of Directors) His Excellency Eng. Abdulhadi Ayed Al-Qahtani His Excellency Engineer/ Muhammad Abdulaziz Al-Namlah Absent from attending the assembly were: His Excellency Mr. Abdul Latif Omar Al Abdul Latif His Excellency Eng. Majed Abdullah Al-Issa |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | His Excellency Eng. Abdulaziz bin Abdulrahman bin Sulaiman (Chairman of the Audit Committee)
His Excellency Eng. Abdulhadi Ayed Al-Qahtani (Chairman of the Nominations and Remunerations Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the report of the Board of Directors for the fiscal year ending on December 31, 2021 AD.
2. Approval of the company’s auditor’s report for the fiscal year ending on December 31, 2021 AD. 3. Approval of the financial statements for the fiscal year ending on December 31, 2021 AD. 4. Approval of releasing the members of the Board of Directors from liability for the fiscal year 2021 AD. 5. Approval of the appointment of the company’s auditor, Talal Abu-Ghazaleh & Co. Office, from among the candidates, based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the first, second, third and annual quarters of the fiscal year 2022 AD, and the first quarter of the fiscal year 2023 AD, and determine his fees. 6. Approval of updating the remuneration policy for the members of the Board of Directors and the committees emanating from the Board and the Executive Management. 7. Approval of authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2022 AD. 8. Approval of the Board of Directors’ recommendation to distribute cash dividends to shareholders for the year 2021, amounting to (2,500,000) Saudi riyals, at (0.50) riyals per share, at a rate of (5%) of the company’s capital of (50,000,000) Saudi riyals. Provided that the eligibility is for the shareholders who own shares at the end of trading on the day of the general assembly meeting and who are registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, provided that the dividend distribution date will be announced later. Dividends will be distributed as of Wednesday, 22/06/2022. 9. Approval of the amendment of Article No. (2) of the Articles of Association relating to the name of the company 10. Approval of the amendment of Article No. (3) of the Articles of Association related to the objectives of the company 11. Approval of the amendment of Article No. (8) of the Articles of Association related to subscribing to shares. 12. Approval of the amendment of Article No. (13) of the Articles of Association relating to the shareholder register. 13. Approval of the amendment of Article No. (14) of the Articles of Association related to share certificates. 14. Approval of the amendment of Article No. (19) of the statute relating to the vacant position in the Council. 15. Approval of the amendment of Article No. (47) of the Articles of Association relating to the distribution of profits. |
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