| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of the Saudi Arabian Refineries Company (SARCO) is pleased to invite the honorable shareholders to participate and vote in the Ordinary General Assembly meeting (the first meeting) to be held, God willing, at seven o’clock in the evening on Tuesday 29/11/1443 AH (according to Umm Al-Qura calendar) corresponding to 28/ 06/2022, The Ritz-Carlton, Jeddah, Al-Ezz Hall (https://goo.gl/maps/A62KJQNniYhuJBta7) In presence with the application of the precautionary and preventive measures issued by the competent authorities, and through modern technology means using the Tadawulaty website (www.tadawulaty.com.sa) |
| City and Location of the General Assembly’s Meeting | In presence : Jeddah, The Ritz-Carlton Hotel
Remotely on the link: https://www.any-meeting.com |
| URL for the Meeting Location | https://goo.gl/maps/A62KJQNniYhuJBta7 |
| Date of the General Assembly’s Meeting | 2022-06-28 Corresponding to 1443-11-29 |
| Time of the General Assembly’s Meeting | 19:00 |
| Attendance Eligibility | Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations |
| Quorum for Convening the General Assembly’s Meeting | For this assembly to be valid, the attendance of shareholders representing at least a quarter of the Company’s capital is required, and if the quorum required for holding the first meeting is not available, the second meeting will be held one hour after the end of the period specified for the first meeting, and the second meeting is valid regardless of the number of shares represented. |
| General Assembly Meeting Agenda | 1- Voting on the Board of Directors’ report for the fiscal year ending on December 31, 2021 .
2- Voting on the financial statements for the fiscal year ending on December 31, 2021 . 3- To vote on the auditor’s report for the fiscal year ending on December 31, 2021 . 4- Vote to absolve the members of the Board of Directors from liability for the fiscal year ending December 31, 2021 . 5- Vote on the board of directors’ recommendation to distribute cash dividends for the fiscal year 2021, amounting to (7,500,000 riyals) at a rate of (5%) of the company’s capital at the rate of (50 halalas) for each share owned by the shareholder, provided that the eligibility is for the shareholders who own the company’s shares at the end of the trading day of the meeting The Company’s (fifty-second) Ordinary General Assembly and those registered in the company’s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date, and the distribution date will be announced later. 6- Vote for the appointment of the external auditor from among the candidates based on the recommendation of the Audit Committee to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2022 AD, and the first quarter of the fiscal year 2023 AD, and determine his fees. 7- Vote on the renewal of the authorization issued to the members of the board regarding obtaining bank loans and the necessary banking facilities, the mortgage contract, and the provision of in-kind guarantees, whether movable or immovable, owned by the company, in order to facilitate the company’s business and achieve its purposes. On the text of Article (24) of the company’s articles of association. 8- To vote on the Board of Directors’ decision to appoint Eng. Abdulrahman bin Ayed Al-Dahasi (independent member) to the Board of Directors starting from the date of his appointment on February 3, 2022 to complete the current Board session, which ends on April 30, 2024 AD, succeeding the previous member, Mr. Suleiman bin Saad Al-Hamid (non-executive). ) (CV attached). 9- Voting on the Board of Directors’ decision to appoint Mr. Muhammad bin Nawaf Al-Harbi (independent member) to the Board of Directors starting from the date of his appointment on February 3, 2022 to complete the current Board session, which ends on April 30, 2024 AD, succeeding the previous member Dr. / Ali bin Saleh Khabti (Non-Executive) (Attached is a CV). 10- Vote on amending the remuneration policy of the Board of Directors, its committees and the executive management (attached). |
| E-Vote | Shareholders registered in the Tadawulati services can vote on the items of the assembly starting from ten o’clock on Saturday 26/11/1443 AH corresponding to 25/06/2022 until the end of the time of the Ordinary General Assembly meeting using link (www.tadawulaty.com.sa) |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes |
| Method of Communication | In the event of an inquiry, we hope to contact the Shareholders Relations Department at:
phone : 0126517014 OR Email : info@almasafi.com.sa |
| Additional Information | The company would like to assure the attending shareholders that the procedures for verifying the health status will be applied in the application of our trust before entering the meeting place, and the obligation to wear a mask in closed places. |
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