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Invites the Board of Directors of Saudi Arabian Refineries (SARCO) shareholders to attend the Extraordinary General Assembly Meeting (First meeting) By means of modern technology

The Board of Directors of the Saudi Arabian Refineries Company (SARCO) is pleased to invite its valued shareholders to participate and vote in the Ordinary Non-General Assembly Meeting (First Meeting), which is scheduled to be held, God willing, at exactly six thirty in the evening on Wednesday 24/07/2024 AD corresponding to 18/01/1446 AH through modern technology.

 

Through modern technology – in the company’s – Jeddah

Login link: www.any-meeting.co

 

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.

 

According to Article (38) of the Company’s Articles of Association, the extraordinary general assembly shall not be valid unless attended by shareholders representing at least (50%) of the capital.

 

If the quorum is not available to hold the first meeting, the second meeting will be held an hour after the end of the period specified for the first meeting, and in all cases the second meeting shall be valid if a number of shareholders representing at least (25%) of the company’s capital are present.

  1. Voting on the amendment of the company’s bylaws to comply with the new Companies Law and rearrange the articles of the company’s bylaws and numbering to comply with the amendments proposed. (Attached)
  2. Voting on amending Article (3) of the company’s bylaws related to the objectives of the company. (Attached)
  3. Voting on amending Article (26) of the company’s bylaws related to the Chairman, Vice-Chairman, Managing Director, and Secretary Powers. (Attached)
  4. Voting on the amendment to the Audit Committee Regulations. (Attached)
  5. Voting on the amendment of the Remuneration and Nomination Committee Regulations. (Attached)
  6. Voting on the amendment to the Policy on Remuneration and Compensation of Board, Committees Members and Executives. (Attached)
  7. Voting on amending the list of standards and procedures specific for membership in the Board of Directors. (Attached)
  8. 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).

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

Shareholders registered on the Tadawulaty services website will be able to vote remotely on the items of the General Assembly through the (electronic voting) service, which will start from one o’clock in the morning on Sunday 21/07/2024 corresponding to 15/01/1446 AH until the end of the time of the General Assembly, and registration and voting in Tadawulaty services will be available and free of charge for all shareholders using  the following link: WWW.TADAWULATY.COM.SA

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