| Element List | Explanation |
| Introduction | The Board of Directors of the Saudi Arabian Refineries Company (SARCO) is pleased to invite its esteemed shareholders to participate and vote in the Ordinary General Assembly meeting (first meeting) scheduled to be held, God willing, at exactly seven o’clock in the evening on Tuesday 11/20/1445 AH corresponding to 05/28/2024 AD, through the following means: Modern technology using the Tadawulaty system (www.tadawulaty.com.sa). |
| City and Location of the General Assembly’s Meeting | The company’s main location is Medina Road, Adham Commercial Building, via modern technology (remotely). |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly’s Meeting | 2024-05-28 Corresponding to 1445-11-20 |
| Time of the General Assembly’s Meeting | 19:00 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | Each shareholder registered in the company’s shareholder register at the Depository Center has the right at the end of the trading session that precedes the General Assembly meeting and in accordance with the rules and regulations. Shareholders have the right to discuss the topics included in the General Assembly agenda and direct questions to the members of the Board of Directors. |
| Quorum for Convening the General Assembly’s Meeting | According to Article (37) of the company’s bylaws, the assembly meeting is valid if it is attended by shareholders representing at least a quarter of the company’s capital. If a quorum is not reached for this meeting, a second meeting will be held an hour later and it will be valid regardless of the number of shares represented in it. |
| General Assembly Meeting Agenda | 1- REVIEW AND DISCUSS THE BOARD OF DIRECTORS REPORT FOR THE FISCAL YEAR ENDING ON 31/12/2023.
2- REVIEW AND DISCUSS THE COMPANY’S FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING 31/12/2023. 3- VOTINGON AND DISCUSSING THE COMPANIES AUDITOR’S REPORT FOR THE FINANCIAL YEAR ENDING 31/12/2023. 4- VOTE ON THE DISCHARGE THE MEMBERS OF THE BOARD OF DIRECTORS FROM LIABILITY FOR THE FISCAL YEAR ENDING 31 DECENBER 2023. 5- VOTEON THE APPOINTMENT OF THE COMPANY’S AUDITOR FRO MAMONG THE CANDIDATES, BASEDON THE AUDIT COMMITTEE’S RECOMMENDATION, TO EXAMINE, REVIEW AND AUDIT THE FINANCIAL STATEMENTS FOR Q2, ANNUAL STATEMENTS FOR THE FISCAL YEAR 2024, AND DETERMINING THEIR FEES. 6- VOTE ON THE RECOMMENDATION OF THE BOARD OF DIRECTORS NOT TO DISTRIBUTE CASH DIVIDENDS FOR THE FISCAL YEAR 2023. 7- VOTE ON THE DISBURSEMENT OF AMOUNT OF (766.665) SAUDI RIYALS AS A REWARD FOR THE MEMBERS OF THE BOARD OF DIRECTORS FOR THE FISCAL YEAR ENDING 2023. 8- VOTING ON DELEGATING THE ORDINARY GENERAL ASSEMBLY’S AUTHORIZATION POWERS STIPULATED IN PARAGRAPH (1) OF ARTICLE (27) OF THE COMPANIES LAW TO THE BOARD OF DIRECTORS FOR APERIOD OF ONE YEAR EFFECTIVE FROM THE DATE OF APPROVAL OF THE ORDINARY GENERAL ASSEMBLY OR UNTIL THE END OF THE TERM OF THE DELEGATE DBOARD, WHICHEVER IS EARLIER, PURSUANT TO THE TERMS MENTIONED IN THE IMPLEMENTING REGULATION OF THE COMPANIES LAW FOR LISTED JOINT STOCK COMPANIES. 9- VOTE ON AUTHORIZING THE BOARD OF DIRECTORS’ PROPOSAL TO DISTRIBUTE INTERIM DIVIDENDS ON A SEMI-ANNUAL OR QUARTERLY BASIS FOR THE YEAR 2024. |
| Proxy Form | Proxy Form |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders have the right to discuss topics on the General Assembly agenda and direct questions to members of the Board of Directors. |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered on the Tadawulati Services website can vote electronically remotely on the items of the Ordinary General Assembly meeting starting at 01:00 AM on Saturday 17/11/1445 AH corresponding to 25/05/2024 AD until the end of the meeting time, and registration and voting will be available on Tadawulati Services. Free for all contributors using the following link: https://login.tadawulaty.com.sa/ir/user/login.xhtml |
| Method of Communication in Case of Any Enquiries | In the event of any inquiries, we hope to contact the Investor-Shareholder Relations Department via:
Investor-shareholder relations management Saudi Arabian Refineries Company Phone: 996126517016 Email ir@almasafi.com.sa Company website www.almasafi.com.sa |
| Attached Documents | Attached 1 – Attached 2 |