Methanol Chemicals Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Methanol Chemicals Company (Chemanol) is pleased to announce to the Company’s shareholders the results of the Ordinary General Assembly Meeting (second meeting), held on Thursday 07/12/1445 H. corresponding to 13/06/2024 at 07:30 pm. via modern technology means provided by Tadawulaty at the Company’s Head Office in Jubail Industrial City.
Due to the lack of quorum in the first meeting, as the quorum reached was %14.01, a second meeting was held an hour after the first at 07:30 pm. The attendance rate during the second meeting amounted to 14.1% of the company’s capital. |
| City and Location of the General Assembly's Meeting | Company’s Head Office – Jubail Industrial City |
| Date of the General Assembly's Meeting | 2024-06-13 Corresponding to 1445-12-07 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 14.1% |
| 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. Ali Abdul Aziz Al-Turki (Chairman). 2. Mr. Melfi Manahi Al-Marzoqi (Vice Chairman). 3. Eng. Saud Abdullah Al-Sanea (Board Member). 4. Eng. Abdullah Abdulaziz al Znaedi (Board Member) 5. Eng. Waleed Abdulaziz Al-Showair (Board Member). 6. Eng. Sabri Abdullah Al-Ghamdi (Board Member & Managing Director & CEO)
The following Board members apologized for not attending the meeting: 1. Mr. Hani Sulaiman Al-Saleh (Board Member). 2. Mr. Abdullah Abdul Rahman Bu-Ali (Board Member). 3. Mr. Yousif Abdullah Abdulaziz Al Rajhi (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 | 1. Eng. Ali Abdul Aziz Al-Turki (Chairman of Board and Executive Committee).
2. Mr. Saad Ibrahim Al-Mushawah (Chairman of Audit Committee) 3. Eng. Abdullah Abdulaziz al Znaedi (Chairman of Marketing Committee). 4. Eng. Akram Aouni Al-Rabayah (Chairman of Project Steering Committee).
Mr. Hani Sulaiman Al-Saleh (Chairman of the Nomination and Remuneration Committee) apologized for not attending the meeting. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Directors' report for the financial year ending on 31/12/2023 was reviewed and discussed.
2. Approval of the auditor’s report for the financial year ending on 31/12/2023. 3. The financial statements for the financial year ending on 31/12/2023 were reviewed and discussed. 4. Approval of the appointment of Messrs. / Ernst & Young as auditor for the Company from among the candidates based on the Audit Committee's recommendation in order to examine, review, and audit the second, third, and fourth quarters and annual financial statements of the financial year 2024, and the first quarter of the financial year 2025; against fees amounting to SAR 595,000 excluding the value-added tax (VAT). 5. Approval of delegating to 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 the date of the approval by the General Assembly or until the end of the delegated Board of Directors’ term, whichever is earlier, in accordance with the conditions set forth in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies |
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