| Element List | Explanation |
| Introduction | The Board of Directors of the Saudi Arabic Refineries Company (SARCO) is pleased to invite its valued shareholders to participate and vote in the Ordinary Extraordinary General Assembly Meeting (Third Meeting), which is scheduled to Allah be held at exactly six thirty in the evening on Wednesday 17/02/1446 AH corresponding to 21/08/2024 AD through modern technology. |
| City and Location of the General Assembly’s Meeting | Through modern technology – at the company’s headquarters in Jeddah |
| Hyperlink of the Meeting Location | Click Here |
| Date of the General Assembly’s Meeting | 2024-08-21 Corresponding to 1446-02-17 |
| Time of the General Assembly’s Meeting | 18:30 |
| Methodology of Convening the General Assembly’s Meeting | Via modern technology means |
| Attendance Eligibility, Registration Eligibility, and Voting End | The right of attendance shall be for shareholders registered in the issuer’s shareholders register at the Depository Center at the end of the trading session preceding the general assembly meeting and in accordance with the rules and regulations, and the eligibility to register attendance for the assembly meeting ends at the time of the assembly meeting, and the eligibility to vote on the items of the assembly for those present ends when the counting committee finishes counting the votes. |
| Quorum for Convening the General Assembly’s Meeting | The third meeting shall be valid regardless of the number of shares represented therein. |
| General Assembly Meeting Agenda | • Voting on amending the Company’s bylaws in accordance with the new Companies Law and rearranging and numbering the articles of the Company’s bylaws to comply with the proposed amendments. (attached)
• Voting on the amendment of Article III of the Company’s bylaws related to (the Company’s Purposes) (attached) • Voting on the amendment of Article (Twenty-Six) of the Company’s bylaws related to the powers of the Chairman, and Deputy, and Managing Director and the Secretary. (attached) • Voting on the amendment of the Audit Committee’s bylaws. (attached) • Voting on the amendment of the Nomination and Remuneration Committee Regulations. (attached) • Voting on the amendment of the remuneration regulations of the members of the Board of Directors, committees and executive management. (attached) • Voting on the amendment of the list of criteria and procedures specified for membership in the Board of Directors. (attached) • Voting on increasing the fees of the Company’s auditor (Deloitte) based on the recommendation of the Audit Committee for (additional audit work for the company in the amount of SAR 120,000). |
| Proxy Form | |
| The shareholder right in discussing the assembly agenda topics, asking questions, and exercising the voting right | Shareholders present have the right to discuss and vote on the topics on the agenda of the General Assembly through the Tadawulaty platform: WWW.TADAWULATY.COM.SA |
| Details of the electronic voting on the Assembly’s agenda | Shareholders registered on the Tadawulaty services website will be able to vote remotely on the items of the Extraordinary General Assembly Meeting through the (electronic voting) service, which will start from 1 o’clock in the morning on Sunday 14/02/1446H corresponding to 18/08/2024G until the end of the time of the Extraordinary General Assembly, and registration and voting in Tadawulaty services will be available and free charge for all shareholders using the following link: WWW.TADAWULATY.COM.SA |
| Method of Communication in Case of Any Enquiries | In case of any inquiries about the items of the Assembly, please contact the Shareholders Relations Department, phone number 012-6517016, ext. 25, or e-mail ir@almasafi.com.sa |
| Attached Documents |