Saudi Arabia Refineries Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting )
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Arabian Refineries Company (SARCO) is pleased to announce the results of the Ordinary General Assembly Meeting (Second Meeting), which was held on Thursday 07/13/1445 AH to 01/25/2024 AD at the Rotana Shaheen Hotel, Yanbu Hall 1, in person and via social media. Modern technology using the Tadawulaty system (www.tadawulaty.com.sa), where the quorum for the second meeting was completed with an attendance rate of 17.50 %, as the quorum for the second meeting is the attendance of any Number of company shares. |
| City and Location of the General Assembly's Meeting | Jeddah - Medina Road, Rotana Shaheen Hotel, Yanbu Hall 1, Actual attendance and by modern technology (remotely) |
| Date of the General Assembly's Meeting | 2024-01-25 Corresponding to 1445-07-13 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 17.50% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Attended General Assembly Meeting was members Board of Directors by Modern technology (remotely) by following: -
1- Mr. Yasser Sulaiman Al-Aqeel (Deputy Chairman Board of Directors) 2- Eng. Abdul Rahman Ayed Al Dahasi (Member Board of Directors) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Mr. Yasser Sulaiman Al-Aqeel (Chairman of Audit Committee)
2- Eng. Abdul Rahman Ayed Al Dahasi (Chairman of the Nominations and Remuneration Committee and Chairman of the Social Responsibility Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approved the dismissal of members of the current Board of Directors and the committees emanating from it based on the request submitted by each of (Ithra Holding Company, Manazel International Company, German Saudi Industrial Company, Fahd Thunayan Fahd Al Thunayan, Rashid Hamad Al-Musallam, Ibrahim Rashid Al-Rasheed, Ibtisam Abdullah Abdulaziz Al-Muaither , Fahd Saif Muhammad Al-Qahtani, Fawaz Muhammad Abdullah Al-Qahtani, Saad Ali Abdullah Al-Luhaidan, Khaled Abdullah Ibrahim Al-Mujil, Miteb Muhammad Al-Anzi, Muhammad Abdullah Marei Al-Qahtani, Muhammad Rashid Hamad Al-Musallam, Ali Misfer Saeed Al-Qahtani, Saad Muhammad bin Saad Al-Tamimi, Khaled Farraj Faraj Al-Anazi) They own10% of the company’s capital, and the majority’s justifications (that the current board members have not developed the company’s business and are satisfied with the profits of the contributing companies and the repeated delay in announcing the financial statements according to the laws).
2- Approved of the election of members of the Board of Directors from among the candidates for the next session, which begins on January 25, 2024 and ends on January 24, 2027, for a period of three years, where the following members were elected:
1- Mr. Khaled Ahmed Al-Hamdan 2- Mr. Abdul Aziz Abdul Mohsen Al-Bakr 3- Mr. Fahd Muhammad Al-Habardi 4- Dr. Abdul Rahman Ahmed Al-Mufarreh 5- Dr. Obaid Saad Al-Subaie 6- Mr. Mishal Abdul Rahman Al-Aqla 7- Mr. Khaled Muhammad Al-Hanaki 8- Mr. Nael Samir Fayez
3- Not approved of disbursing a reward to deserving members of the Board of Directors of (7.5%) of the remaining profits for the financial year ending 12/31/2022 AD and an amount of (780,529) riyals according to the text of Article (51) of the company bylaws. |
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