Yanbu National Petrochemical Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Yanbu National Petrochemical Company (YANSAB) announces the results of the 15th Ordinary General Assembly meeting (First meeting) through modern technology means |
| City and Location of the General Assembly's Meeting | Through modern technology means from the Company’s office in Yanbu Industrial City (using Tadawulaty system) |
| Date of the General Assembly's Meeting | 2023-03-07 Corresponding to 1444-08-15 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 69.9% |
| 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. Abdulrahman A. Shamsaddin (Chairman) 2. Eng. Majed A. Nouraddin (Vice Chairman). 3. Mr. Ibrahim M. Al-Saif. 4. Dr. Ahmad A. Al-Meghames. 5. Mr. Khalid B. Al-Rabiaah. 6. Eng. Sameeh S. Al-Sahafi. 7. Eng. Faisal M. Al-Bahair.. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following Committees’ Chairmen attended the meeting:
1.Mr. Ibrahim M. Al-Saif (Chairman of Audit Committee).
2.Dr. Ahmad A. Al-Meghames (Chairman of Remuneration and Nomination Committee).
3.Mr. Khalid B. Al-Rabiaah (Chairman of Risk Committee).
4.Eng. Abdulrahman A. Shamsaddin (Chairman of Investment Committee). |
| 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 December 2022.
2. The Financial Statements for the fiscal year ended on 31 December 2022 was viewed and discussed.
3. The Board of Directors Report for the fiscal year ended on 31 December 2022 was viewed and discussed.
4. Approve the appointment of Price waterhouse Coopers International Limited Company (PWC) as the External 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 and the annual of the fiscal year 2023, in addition to first quarter 2024 financial statements, and determining the fees.
5. Approve the discharge of the Board of Directors members for the fiscal year ended 31 December 2022.
6. Approve the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2022 with total amount (SAR 703,125,000) at SAR 1.25 per share, which represents 12.5% of par value. Eligibility for the second half dividends of the year will be to the shareholders registered in the Company’s share registry at the Depository Center at the end of the second trading day following Ordinary General Meeting date, the distribution day will start from Sunday 26 March 2023.
7. Approve the election of the Board of Directors’ members for the next Board term of three years starting on 16/03/2023 and ending on 15/03/2026. They are : 1.Eng. Abdulrahman Ahmed Shamsaddin (Non-Executive member) 2.Eng. Sameeh Suleman Al-Sahafi (Non-Executive member) 3.Mr. Abdullah Abdulmonem Al-Sinan (Non-Executive member) 4.Eng. Abdullah Saif Al-Arifi (Non-Executive member) 5.Mr. Ibrahim M. Al-Saif (Independent member) 6.Eng. Awad Mohammed Al-Maker (Independent member) 7.Mr. Khalid B. Al-Rabiaah (Independent member)
8. Approve on the formation of the Audit Committee, defining its duties, working procedure and members’ remuneration for the new term of three years – starting on 16/03/2023 and ending on 15/03/2026 , They are: •Mr. Ibrahim Mohammed Al-Saif •Mr. Abullah Abdulmonem Al-Sinan •Dr. Ahmed Abdullah Al-Meghames
9. Approve authorizing the Board of Directors to distribute interim dividends, semi-annual or quarterly for the fiscal year 2023. |
Comments