Basic Chemical Industries Co. Announces the Results of the Ordinary General Assembly Meeting ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Basic Chemical Industries Co. is pleased to announce to its valued shareholders the results of the Ordinary General Assembly meeting (the first meeting), which was held at (19:00) in the evening of Wednesday, 25 Dhu al-Qi`dah1444AH corresponding to June 14, 2023, through Modern technology means /Tadawulaty Services website after completing the legal quorum for the validity of the Ordinary General Assembly meeting. |
| City and Location of the General Assembly's Meeting | Company's headquarters in Dammam - means of modern technology. |
| Date of the General Assembly's Meeting | 2023-06-14 Corresponding to 1444-11-25 |
| Time of the General Assembly's Meeting | 19:00 |
| Percentage of Attending Shareholders | %52.2 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Attended by.
1- Abdulla Muhanna Al-Moaibed 2- Sulaiman Abdullah Alqadi 3- Othman Riyad Al-Humaidan 4- Alaa Abdullah Al Sheikh
Not attended by. 1- Tariq Ali Al-Tamimi 2- Abdulaziz Abdulla Alnaim 3- Muhanna Abdul Aziz Al Moaibed 4- Abdul Aziz Talal Altamimi 5- Nasser Abdullah Al Moaibed |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Sulaiman Abdullah Alqadi (Chairman of the audit committee)
2- Othman Riyad Al-Humaidan (Chairman of the Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Review and discuss the Board of Directors' report for the fiscal year ended 31 December 2022.
2. Approved 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. Approved the absolving the Board members from liabilities for their activities pertain to management of the Company for the fiscal year ended 31 December 2022.
5. Approved the paying 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. Approved the appointing the external auditor RSM. for the Company from among the candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the (second, third and fourth) quarter and annual financial statements, of the fiscal year 2023, and the first quarter of the fiscal year 2024, and the determination of the auditor's fees.
7. Approval 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 2nd2023.
8. Approval on authorizing the Board of Directors to distribute interim dividends to shareholders on semi-annual or quarterly basis for the fiscal year 2023.
9. Approval of delegating the Board of Directors the authorization powers of the General Assembly stipulated in paragraph (1) of Article 27 of the Companies law, for a period of one year starting from approval of the General Assembly or until the end of the delegated Board of Directors’ term, whichever is earlier, in accordance with the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. |
| Additional Information | N/A |
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