Sixth extraordinary general assembly meeting

The Board of Directors of Advanced Petrochemical Company is pleased to invite all shareholders who owns 20 shares and above to attend the sixth extraordinary general assembly meeting which will be held on Tuesday 16th of Rabi II 1434 H corresponding to the 26th of February 2013 in Advanced main office in Dammam (Al-Khaleej Cornish Street – SAMK Building – Fifth Floor) at 6:30 PM. And the agenda of this meeting is as follows:
  1. Approve the year end 2012 report.
  2. Approve the financial statements and the financial auditor report for the year end 2012.
  3. Approve the recommendation of the company’s board of directors to distribute the second half of 2012 dividends (SR 163.9 million - SR 1 per share) to shareholders which equal to 10% of company’s capital and will be distributed to those who are in the list taken from Tadawul at the end of the day of the extraordinary general assembly meeting. Therefore, the total cash dividends distributed for fiscal year ending 31 December 2012 is equal to SR 327.8 million (SR 2 per share).
  4. Approve the board members additional benefits which are equal to SR 200,000 per member for the fiscal year 2012.
  5. Approve the clearance of the board members for the year end 2012.
  6. Approve the advice of the Auditors Committee in the selection of the External Auditor for the review of the quarterly and yearly Financial Statements plus the cost associated to that for the year 2013.
  7. Approve the amendment to the article related to the review, appointments, and benefits of the board of directors.
 
All shareholders who cannot attend the meeting have the right to appoint another shareholder who is not a board member, a company employee, or assigned to do a permanent  administration or a technical job in the company as per the clause mentioned below. An official delegation letter with a stamp of the Chamber of Commerce, or any local bank where shareholders’ s shares are reside, or the company he is working with, or relevant government bodies must be submitted to the headquarters of the company's management in Jubail industrial City (P.O. Box 11022 Jubail 31961) three days in advanced prior to the day of the general assembly meeting. All shareholders who are interested to attend this meeting should come 1 hour before the start of the meeting and bring their national ID card to verify their identities and registration.
The General Assembly Meeting can be held only if more than 50% of the company’s capital represented by shareholders shares are attending the meeting.Saturday, February 9, 2013 - 00:00