ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE RESULTS OF 17TH ORDINARY GENERAL ASSEMBLY MEETING (FIRST MEETING) THROUGH MODERN TECHNOLOGY MEANS
| Element List | Explanation |
|---|---|
| Introduction | Advanced Petrochemical Company (Advanced) is pleased to announce to its shareholders the results of the 17th Ordinary General Assembly Meeting (First Meeting), which was held through modern technology means on Tuesday, September 27, 2022 corresponding to 01-03-1444H at (18:30) after fulfilling the required legal quorum for Ordinary General Assembly meeting in accordance with the Companies Law and the Company’s Bylaws. |
| City and Location of the General Assembly's Meeting | Dammam city at Advanced Head Office (Gulf Road Dammam Corniche - SAMEC Building fifth floor) using modern technology (remotely) on my Tadawulaty platform. |
| Date of the General Assembly's Meeting | 2022-09-27 Corresponding to 1444-03-01 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 39.49% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | All board members attended the meeting:
1. Khalifa Bin Abdullatif Bin Abdullah Al-Mulhem 2. Bander Bin Sulaiman Bin Abdulaziz Alghafees 3. Waleed Bin Mohammed Bin Abdullah Al-Jaafari 4. Abdulaziz Bin Abdullah Bin Abdulaziz Al-Mulhem 5. Abdulaziz Bin Abdullah Bin Moqbel Al-Haberdi 6. Bader Bin Osama Bin Hassen Jawher 7. Mohammed Khalifa Bin Abdullatif Al-Mulhem 8. Sami Bin Abdulaziz Bin Mohammed Al-Suwaigh 9. Ali Bin Sadeeq Bin Ali Al-Hakemi |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | All Chairmen of the Committees attended the meeting:
1. Ali Bin Sadeeq Bin Ali Al-Hakemi (Chairman of the Nomination and Remuneration Committee) 2. Abdullah Abdul Rahman Bu Ali (Chairman of the Audit Committee). 3. Khalifa Bin Abdullatif Bin Abdullah Al-Mulhem (Chairman of the Executive Committee). 4. Bader Bin Osama Bin Hassen Jawher (Chairman of the Investment Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the formation of the audit committee and determine its duties, roles and remunerations for the new term, which begins on 01/10/2022 and ends on 30/09/2025, noting that the nominees are:
1) Abdulsalam Mazro Abdullah Al-Mazro (Independent Director). 2) Waleed Mohammed Abdullah Al-Jaafari (Non-Executive Director). 3) Abdulaziz Abdullah Abdulaziz Al-Mulhem (Non-Executive Director). 4) Abdullah Abdul Rahman Bu Ali (Member form outside the Board of Directors).
2. Approval of the recommendation of the Board of Directors to transfer an amount of Eighty-One Million Five Hundred Thirty-Nine Thousand Four Hundred Ninety-Four (81,539,494) Saudi Riyals from the consensual reserve amounting to Eighty-One Million Five Hundred Thirty-Nine Thousand Four Hundred Ninety-Four (81,539,494) Saudi Riyals as stated in the interim financial statements for the period ended on 30 June 2022 to the retained earnings amounting to Four Hundred Sixty-Four Million Nine Hundred Fifty-Seven Thousand One Hundred Thirty-Three (464,957,133) Saudi Riyals as stated in the interim financial statements for the period ended on 30 June 2022. |
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