THIS SITE USES COOKIES

This website uses first and third party cookies (and equivalent technologies) to improve your experience on our site. Necessary cookies ensure that this site functions properly. We also use cookies to analyze how our site performs, understand your preferences and deliver tailored commercial content on this and other sites. For more information about which cookies we use, the information collected and SABIC’s purposes, please see our Cookie Notice. By clicking ‘Accept Cookies’ you agree to the use of such cookies. Alternatively you can manage which cookies are placed on your device by selecting

Manage Cookies

ACCEPT COOKIES

SABIC

Menu Close SABIC GLOBESearch

Yanbu National Petrochemical Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )

3/21/2024

Element List Explanation
Introduction Yanbu National Petrochemical Company (YANSAB) announces the results of the 5th Extraordinary General Assembly meeting (First meeting)
City and Location of the General Assembly's Meeting Through modern technology means from the Company’s office in Yanbu Industrial City (using Tadawulaty system)
Date of the General Assembly's Meeting 2024-03-20 Corresponding to 1445-09-10
Time of the General Assembly’s Meeting 21:30
Percentage of Attending Shareholders 61.79
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The following Board members attended the meeting:

 

1.Eng. Abdulrahman A. Shamsaddin (Chairman).

2.Eng. Sameeh S. Al-Sahafi (Vice Chairman).

3.Mr. Ibrahim M. Al-Saif.

4.Mr. Khalid B. Al-Rabiaah.

5.Eng. Abdullah S. Al-Arifi.

6.Eng. Awad M. Al-Maker.

7.Mr. Abdullah A. Al-Sinan.
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf The following Committees’ Chairmen attended the meeting:

 

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

2.Eng. Awad M. Al-Maker (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's 1.The Board of Directors Report for the fiscal year ended on 31 December 2023 was viewed and discussed.

 

 

2.Approve the External Auditor Report for the fiscal year ended on 31 December 2023.

 

3.The Financial Statements for the fiscal year ended on 31 December 2023 was viewed and discussed.

 

4.Approve the appointment of Price waterhouse Coopers International Limited Company (PWC) 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 second quarter, third quarter and the annual of the fiscal year 2024, in addition to first quarter 2025 financial statements, and the total fees 730,000 SAR excluding (VAT).

 

5.Approve authorizing the Board of Directors to distribute interim dividends, semi-annual or quarterly for the fiscal year 2024.

 

6.Approve the disbursement of SAR (1,400,000) as remuneration to the Board members for the fiscal year ended on 31 December 2023.

 

7.Approve the amendment of the Board Membership Policy.

 

8.Approve the amendment of the Remuneration Policy of Board Members, Committee Members and Senior Executives.

 

9.Approve the amendment of the Social Responsibility Policy.

 

10.Approve the amendment of the Audit Committee Charter.

 

11.Approve the amendment of the Remuneration and Nomination Committee Charter.

 

12.Approve amending Article No. (17) Of the Company's bylaws related to the Management of the Company.

 

13.Approve amending Article No. (21) Of the Company's bylaws related to the Authorities of the Board.

 

14.Approve amending Article No. (23) Of the Company's bylaws related to the Authorities of the Chairman and Vice Chairman.

 

15.Approve amending the company’s bylaws in accordance with the new Companies Law, and rearranging the bylaws’ articles and numbering to be consistent with the proposed amendments.

 

16.Approve transferring the Statutory Reserve amount of (SR 1,687,500,000) – as stated in the financial statements for the year ended on 31 Dec 2023 – to the Retained Earnings account.

 

17.Approve the discharge of the Board of Directors members for the fiscal year ended 31 December 2023.