Arabian Plastic Industrial Co. (APICO) announces the results of the Extraordinary General Assembly Meeting ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Arabian Plastic Industrial Co. (APICO) is pleased to announce the results of the extraordinary general assembly meeting (first meeting) which was held at 06:30PM on Thursday December 14, 2023 (corresponding to 01-06-1445), remotely by means of modern technology. |
| City and Location of the General Assembly's Meeting | Company Head Office, in Jeddah City, Online via Tadawulaty Platform |
| Date of the General Assembly's Meeting | 2023-12-14 Corresponding to 1445-06-01 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 81.07% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Mr. Khalid Omar Abubakr Balubaid - Chairman
Mr. Ahmed Omar Abubakr Balubaid - Vice Chairman
Mr. Saeed Omar Abubakr Balubaid - Board Member
Mr. Waleed Khalid Omar Balubaid - Board Member
Mr. Mohammed Hashim Bakr Al-Haj - Board Member
Mr. Azhar Medo Mohyaldeen Kenji -Independent Board Member
Mr. Nagi Sourati - Independent Board Member
Mr. Venugopal T. K. - Board Member |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Waleed Khalid Omar Balubaid - Chairman Audit Committee
Mr. Mohammed Hashim Bakr Al-Haj - Member Nominations and Remuneration Committee on behalf of Committee chairman |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | (i) Approval on the amendment of the Company's bylaws in accordance with the new Companies law, and rearranging the system’s articles and numbering them to comply with the proposed amendments.
(ii) Approval on placement of company’s authorized capital according to the following:
* The authorized capital after the amendment will be 100,000,000 SAR.
*There is no change in the number of companies’ shares before and after the increase in the authorized capital.
*Amendment to Article No. (7) of the company’s bylaws related to capital
(iii) Approved to amend Article (19) of the company’s bylaws, related to the powers of the board.
(iv) Approved to amend Article (21) of the company’s bylaws, related to the powers of the Chairman of the Board of Directors, Vice Chairman, the managing director, and the board secretary.
(v) Approved the charter of the Nominations and Remuneration Committee (NRC) |
| Additional Information | N/A |
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