Basic Chemical Industries Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Ordinary General Assembly Meeting
| Element List | Explanation |
|---|---|
| Introduction | Basic Chemical Industries Co. invites all its shareholders to convene for an ordinary session (first meeting). The meeting will be held virtually by means of modern technology on Wednesday, 14 June 2023 at 19:00 p.m. via Tadawulaty e-voting system (www.tadawulaty.com.sa). |
| City and Location of the General Assembly's Meeting | Company's headquarters in Dammam - means of modern technology |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2023-06-14 Corresponding to 1444-11-25 |
| Time of the General Assembly's Meeting | 19:00 |
| Attendance Eligibility | Shareholders who are registered in the issuers shareholders record at the Depositary Center by the end of the trade session prior to the general assembly meeting and in accordance with the laws and regulations. |
| Quorum for Convening the General Assembly's Meeting | The Ordinary General Assembly meeting is valid if there are shareholders representing at least a quarter of the capital. If the quorum required for holding this meeting is not fulfilled, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting will be valid regardless of the number of shares represented in it. |
| General Assembly Meeting Agenda | 1. Review and discuss the Board of Directors' report for the fiscal year ended 31 December 2022.
2. Vote on the Auditor's report for the fiscal year ended 31 December 2022.
3. Review and discuss the financial statements for the year ended 31 December 2022.
4. Vote on absolving the Board members from liabilities for their activities pertain to management of the Company for the fiscal year ended 31 December 2022.
5. Vote on the disbursement of an amount of SR 2,781,000 (Saudi Riyals two million seven hundred eighty one thousand only) as remuneration for the members of the Board of Directors .
6. Vote on the appointment and determining fees of the external auditor for the Company from among the candidates based on recommendation of the Audit Committee to examine, review and audit the Company’s financial statements for the second and third quarters and the annual financial statements of fiscal year 2023 and first quarter of fiscal year 2024
7. Vote on the Board of Directors ’recommendation to distribute cash dividends for the 2022 at the rate of 1 riyal per share, which represents 10% of the nominal value of the share with a total amount of 27.5 million riyals, provided the eligibility for dividend will be to Shareholders who own the shares at the end of trading day on the day of general assembly and who are registered in the Company’s shareholders register at Securities Depository Center (EDAA) by the end of the second trading day following the maturity day. The date of dividend distribution is July 2nd 2023.
8. Vote on authorizing the Board of Directors to distribute interim dividends to shareholders on semi-annual or quarterly basis for the fiscal year 2023.
9. Vote on delegation of powers to the Board of Directors as stipulated in Paragraph (1) of Article (27) of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with implementing regulations of the Companies Law for listed Joint Stock Companies |
| Proxy Form |  |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right. (Mentioning the E-Voting details, if any) | Shareholders registered in Tadawulaty services will be able to vote remotely on the assembly’s items.
Voting will start at 01:00 a.m. on Sunday, June 11, 2023, until the adjournment of the meeting. And registration and voting in Tadawulaty services will be available and free for all shareholders using the following link:
www.tadawulaty.com.sa |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly's Meeting Ends upon the Convenience of the General Assembly's Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | We would also like to draw the attention of the shareholders to the fact that the questions and inquiries of the esteemed shareholders related to the Association's items will be received and answered by e-mail: shareholder@bci.com.sa and phone: (013) 8217920. |
| Attached Documents | |
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