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Yanbu National Petrochemical Company (YANSAB) announces the results of the Ordinary General Assembly meeting (First meeting) through modern technology means

4/01/2021

ELEMENT LISTEXPLANATION
IntroductionYanbu National Petrochemical Company (YANSAB) announces the results of the 13th Ordinary General Assembly meeting (First meeting) through modern technology means
City and Location of the General Assembly's MeetingThrough modern technology means from the Company’s office in Yanbu Industrial City (using Tadawulaty system)
Date of the General Assembly's Meeting2021-03-30 Corresponding to 1442-08-17
Time of the General Assembly's Meeting18:30
Percentage of Attending Shareholders70.7%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the AbsenteesThe following Board members attended the meeting:

 

1. Eng. Abdulrahman A. Shamsaddin (Chairman)

2. Eng. Majed A. Nouraddin (Vice Chairman).

3. Mr. Ibrahim M. Al-Saif.

4. Dr. Ahmad A. Al-Meghames.

5. Mr. Khalid B. Al-Rabiaah.

6. Eng. Sameeh S. Al-Sahafi.

7. Eng. Faisal M. Al-Bahair..

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their BehalfThe following Committees’ Chairmen attended the meeting:

 

 

1.Mr. Ibrahim M. Al-Saif (Chairman of Audit Committee).

 

2.Dr. Ahmad A. Al-Meghames (Chairman of Remuneration and Nomination Committee).

 

3.Mr. Khalid B. Al-Rabiaah (Chairman of Risk Committee).

 

4.Eng. Abdulrahman A. Shamsaddin (Chairman of Investment Committee).

Voting Results on the Items of the General Assembly's Meeting Agenda's1.Approve the External Auditor Report for the fiscal year ended on 31 December 2020.

 

 

2.Approve the Financial Statements for the fiscal year ended on 31 December 2020.

 

3.Approve the Board of Directors Report for the fiscal year ended on 31 December 2020.

 

4.Approve the appointment of (Ernst & Young) as the External Auditor for the Company from among the candidates nominated based on the recommendation of Audit Committee to review and audit financial statements of the first quarter, second quarter, third quarter, fourth quarter and the annual of the fiscal year 2021, and determine the fees.

 

5.Approve the discharge of the Board of Directors members for the fiscal year ended 31 December 2020.

 

6.Approve the disbursement of SAR (1,400,000) as remuneration to the Board members for the fiscal year ended on 31 December 2020.

 

7.Approve the resolution of the Board of Directors regarding the dividends distributed for the first half of 2020, at an amount of (SAR 703,125,000) at SAR 1.25 per share, which represents 12.5% of the par value.

 

8.Approve the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2020 with total amount (SAR 703,125,000) at SAR 1.25 per share, which represents 12.5% of par value. Eligibility for the second half dividends of the year will be to the shareholders registered in the Company’s share registry at the Depository Center at the end of the second trading day following Ordinary General Meeting date. The dividends will be distributed on Wednesday, 02/09/1442 H corresponding to 14/04/2021.

 

9.Approve authorizing the Board of Directors to distribute interim dividends, semi-annual or quarterly for the fiscal year 2021.