GOVERNANCE
FRAMEWORK

BOARD OF
DIRECTORS

Board Formation

Advanced's Bylaws provides that the Company shall be managed by a board of directors composed of nine (9) members to be elected by the Ordinary General Assembly for a term not exceeding three years. The current Board (three independent members and six non-executive members) was elected by the Ordinary General Assembly Meeting held on August 31, 2022 for the current term that started October 1, 2022 for three years and ending on September 30, 2025.

The election of the Board was conducted in accordance with the provisions of the Companies Laws, the Regulations of the Capital Market Authority, the Company’s Bylaws as well as the Policies, Standards & Procedures for the Board Membership approved by the General Assembly of the Company's shareholders.

Board Functions

The Board has the broadest powers in managing the Company and guiding its activities to achieve its objectives, which include:

01

Approving plans, policies, strategies and main objectives of the Company; supervising their implementation and reviewing them periodically; and ensuring that the human and financial resources required to fulfill them are available;

02

Setting rules and procedures for internal control and generally overseeing them;

03

Supervising the management of the Company’s finances, its cash flows as well as its financial and credit relationships with third parties;

04

Approval of significant contracts;

05

Determining succession planning and new Board and Audit Committee appointments in the event of vacancy; and

06

Overseeing Corporate Governance matters.

 

 

 

 

 

 

MEMBERS OF THE BOARD OF DIRECTORS

Mr. Khalifa A. Al-Mulhem

Tenure

Re-appointed as a Director from October 1, 2022, to September 30, 2025.

Board committees membership
  • Chairman of the Executive Committee.
  • Member of the Nomination & Remuneration Committee.
Board and committees membership in affiliates
  • Chairman of the Board of Advanced Global Investment Company (AGIC)
  • Chairman of the Board of Advanced Global Marketing Company (AGMC)
  • Chairman of the Board of Advanced Polyolefins Industry Company (APOC)
  • Chairman of the Executive Committee of APOC
Outside interests/commitments
  • Chairman of Khalifa Abdullatif Abdullah Al-Mulhem Ltd. Company
  • Vice Chairman of Walaa Cooperative Insurance Company
  • Vice Chairman of Canadian Medical Center Company
  • Chairman of ALPHA Capital
Nationality

Saudi

Mr. Waleed M. Al-Jaafari

Tenure

Re-appointed as a Director from October 1, 2022, to September 30, 2025.

Board committees membership
  • Member of the Nominations & Remunerations Committee
  • Member of the Investment Committee
  • Member of the Audit Committee
Outside interests/commitments
  • Board Member in Walaa Cooperative Insurance Company
  • Board Member and Managing Director of Al-Dawaa Medical Services Company • Board Member in Eastern Province Cement Company
  • Chairman of the Board of Gulf Real Estate Development Company
  • Board Member in Meshraf Real estate Company
  • Board Member in Digital Business Systems Company
  • Board Member in Siyaha Company
Nationality

Saudi

H.E. Eng. Abdallah I. Al Saadan

Tenure

Appointed a Member from October 1, 2022, to September 30, 2025.

Board committees membership
  • Member of the Executive Committee
Outside interests/commitments
  • Board Chairman in Hassana Investment Company
  • Board Chairman in Al Raidah Investment Company
Nationality

Saudi

Eng. Abdulaziz A. Al-Habardi

Tenure

Re-appointed as a Member from October 1, 2022, to September 30, 2025.

Board committees membership
  • Member of the Executive Committee
Board and committees membership in affiliates
  • Vice Chairman of the Board of Advanced Polyolefins Industry Company (APOC)
  • Member of the Audit Committee of APOC
  • Member of the Executive Committee of APOC
Outside interests/commitments
  • Board Member in Yanbu Cement Company
Nationality

Saudi

Eng. Abdulsalam M. Al-Mazro

Tenure

Appointed a Member from October 1, 2022, to September 30, 2025.

Board committees membership
  • Member of the Audit Committee
Outside interests/commitments
  • Chairman of the Board of Maz Holding Company
  • Vice Chairman of Board Member in Gulf Cryo Gas Industries Company
Nationality

Saudi

Mr. Abdulaziz A. AlMolhem

Tenure

Re-appointed as a Member from October 1, 2022, to September 30, 2025.

Board committees membership
  • Member of the Executive Committee
  • Member of the Nominations & Remunerations Committee
  • Member of the Investment Committee
  • Member of the Audit Committee
Board and committees membership in affiliates
  • Member of the Executive Committee of APOC
  • Chairman of the Audit Committee of APOC
Outside interests/commitments
  • Regional General Manager of the Banque Saudi Fransi
  • Member of the Board of Sofinco Saudi Fransi Company
Nationality

Saudi

Dr. Badr O. Johar

Tenure

Re-appointed as a Member from October 1, 2022, to September 30, 2025.

Board committees membership
  • Chairman of the Nominations & Remunerations Committee
Outside interests/commitments
  • Board Member in Cement Products Industry Company
  • Board Member in Qatrana Cement Company
  • Chief Executive Officer at Arabian Cement Company
Nationality

Saudi

Eng. Nader S. Al-Dakheel

Tenure

Appointed a Member from October 1, 2022, to September 30, 2025.

Outside interests/commitments
  • Board Member in Mattex Company
  • Board Member in Building Construction Company
  • Board Member in Al-Tawfiq Company for Plastic Industries and Woven Bags
  • Board Member in Elsewedy cables, KSA
  • Board Member in Makana Company
  • Chief Executive Officer of the Saudi Industrial Manufacturing Holding (Tahweel Holding) Company
Nationality

Saudi

Eng. Mohammed K. Al-Mulhem

Tenure

Re-appointed as a Member from October 1, 2022, to September 30, 2025.

Board committees membership
  • Member of the Executive Committee
  • Member of the Investment Committee
Board and committees membership in affiliates
  • Board Member of Advanced Polyolefins Industry Company (APOC)
  • Member of the Executive Committee of APOC
Outside interests/commitments
  • Board Member in Riyadh Cement Company
  • Board Member in Al-Ittefaq Steel Products Company
  • Board Member in Al Jazeera Support Services Company (MEHAN)
  • Managing Director at Precast Building System Co
Nationality

Saudi

EXECUTIVE
MANAGEMENT

Fahad S. Al Matrafi

Company Name Legal Entity Position Location Membership
Advanced Petrochemical Company Listed Company President & CEO Saudi Arabia Current
Advanced Polyolefins Industry Company Closed Joint Stock Company Board Member Saudi Arabia Current
SK Advanced Company LLC Board Member South Korea Current
Ulsan Polypropylene Company LLC Board Member South Korea Until October 2021
Advanced Global Investment Company LLC Board Member Saudi Arabia Current
Advanced Global Holding Company LLC Board Member Luxembourg Current

Mamdouh H. Al Amri

Company Name Legal Entity Position Location Membership
Advanced Petrochemical Company Listed Company EVP, Manufacturing Saudi Arabia Current
Advanced Polyolefins Industry Company Closed Joint Stock Company CEO Saudi Arabia Current
Ulsan Polypropylene Company LLC Board Member South Korea Current
Advanced Global Investment Company LLC Board Member Saudi Arabia Current
Advanced Global Holding Company LLC Board Member Luxembourg Current

Abdulaziz S. Al-Ardhi

Company Name Legal Entity Position Location Membership
Advanced Petrochemical Company Listed Company Chief Financial Officer Saudi Arabia Current
Advanced Global Marketing Company (AGMC) Single Shareholder LLC Board Member Saudi Arabia Current
SK Advanced Company LLC Board Member South Korea Current
Riyal Investment and Development Company Listed Company Audit Committee Member Saudi Arabia Current
National Metal Manufacturing and Casting Company (Maadaniyah) Listed Company Audit Committee Member Saudi Arabia Previous
Advanced Petrochemical Company Listed Company Finance & Accounting Manager Saudi Arabia Previous
National Industrialization Company (Tasnee) Listed Company Manager Budgeting and Financial Management Reporting Consolidation Saudi Arabia Previous

Mohammed S. Al-Otaibi

Company Name Legal Entity Position Location Membership
Advanced Petrochemical Company Listed Company Vice President of Shared Services Saudi Arabia Current
Advanced Petrochemical Company Listed Company General Manager of Shared Services Saudi Arabia Previous
TASNEE Petrochemical Company Listed Company Human Resources General Manager Saudi Arabia Previous

Ali M. Al-Shahrani

Company Name Legal Entity Position Location Membership
Advanced Petrochemical Company Listed Company Vice President of Operations Saudi Arabia Current
Advanced Petrochemical Company Listed Company General Manager of Operations Saudi Arabia Previous
SK Advanced Company LLC Board Member South Korea Previous

Abdullah A. Boaysha

Company Name Legal Entity Position Location Membership
Advanced Petrochemical Company Listed Company Vice President of Maintenance and Technical Saudi Arabia Current
Advanced Petrochemical Company Listed Company General Manager of Technical Division Saudi Arabia Previous
Saudi Kayan Company (A Sabic Affiliate) Listed Company General Manager of Maintenance Division Saudi Arabia Previous
Saudi Kayan Company (A Sabic Affiliate) Listed Company General Manager of Technical Division Saudi Arabia Previous
Saudi Butanol Company Listed Company Board Member Saudi Arabia Previous

INVESTOR
RELATIONS
REVIEW

Advanced equity shares are listed on the Saudi Exchange stock market on 20 January 2007. As at 31st December 2023, Advanced had SAR 2,6 billion in authorized capital and issued 260 million shares.

End of the Year (31 Dec 2023) SAR 39.10
1 Year Ago SAR 42.50
3 Year Ago SAR 55.57
52 Weeks High (05 Mar 2023) SAR 50.70
Symbol 2330
ISIN SA000A0LE310
No. of Shares issued 260,000,000
Par Value SAR 10.00

Share Price Performance in Relation to Materials Index

Share Volume vs Value Traded

 

 

 

 

 

 

Investor Information

Below tables are information about investors in terms of type and nationality of investors as of 31st Dec 2023:

Shares Onwership

Size of ownership (no. of shares held)

Size No. of investors No. of shares held Ownership percentage
More than 1,000,000 33 137,456,380 52.87%
500,000 – 999,999 29 20,360,978 7.83%
100,000 – 499,999 174 39,652,097 15.25%
50,000 – 99,999 157 10,801,490 4.15%
10,000 – 49,999 992 19,748,822 7.60%
5,000 – 9,999 1,081 7,173,405 2.76%
1,000 – 4,999 6,400 12,604,693 4.85%
Fewer than 1,000 88,178 12,202,135 4.69%
Total 97,044 260,000,000 100%

*Qualified Foreign Investor (QFI) is qualified in accordance with the Rules for Foreign Investment in Securities, to invest in the listed shares on the Main Market.

Nationality No of Investor Qty Share %
Saudi 94,525 225,934,780 97.86
GCC 140 5,797,096 0.14
Forigen 1,927 28,268,124 1.99
Total 96,592 260,000,000 100.00

Investor Communication

At Advanced, Investor Relations takes the lead in communicating with the financial community, particularly institutional investors, individual investors and analysts. In line with Capital Markets Authority (CMA) regulations and global best practices, the Investor Relations team strives to provide optimal disclosures and transparency to financial community on regular basis.

Investor Relations Activities

Throughout 2023, Advanced participated in multiple face-to-face and online conferences with investors and analysts. We conducted several site visits for analystsand institutional investors to our assets in Jubail Industrial City and meeting the executive management, where we hosted more than four international and local institutional investors.

Furthermore, the IR section organized an Extraordinary General Assembly Meeting, in compliance with the regulatory instructions, which was held on April 10, 2023. In addition, the investor relations section of the company’s website and smart phone application were developed with the aim of providing multiple channels for investors to access the latest financial information, stock data and analyst coverage.

 

 

 

 

 

 

The Company's requests for
the Shareholders Register

Number of Requests Date of Request Reasons for the Request
1 2-Jan-2023 Corporates Procedures
2 11-Jan-2023 Corporates Procedures
3 5-Feb-2023 Corporates Procedures
4 8-Mar-2023 Corporates Procedures
5 10-Apr-2023 General Assembly
6 30-May-2023 Corporates Procedures
7 18-Jun-2023 Corporates Procedures
8 24-Jul-2023 Corporates Procedures
9 27-Aug-2023 Corporates Procedures
10 2-Oct-2023 Corporates Procedures
11 2-Nov-2023 Corporates Procedures
12 4-Dec-2023 Corporates Procedures

The Announcements of the
Company during 2023:

No. Date Subject of the Announcement
1 21/02/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES ITS ANNUAL FINANCIAL RESULTS ENDED ON 31-12-2022
2 21/02/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE DISTRIBUTION OF DIVIDEND FOR THE FOURTH QUARTER OF 2022
3 02/03/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE SIGNING OF THE SUPPORT FRAMEWORK AGREEMENT WITH SHAREEK PROGRAM
4 06/03/2023 ADVANCED PETROCHEMICAL COMPANY (ADVANCED) ANNOUNCES ENGINEERING PROCUREMENT & CONSTRUCTION CONTRACT AWARD TO GAS ARABIAN SERVICES COMPANY FOR CONSTRUCTION OF A PIPELINE BETWEEN ADVANCED AND JUBAIL UNITED PETROCHEMICAL COMPANY (UNITED)
5 16/03/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES ITS INTENTION TO PURCHASE ITS SHARES
6 20/03/2023 ADVANCED PETROCHEMICAL COMPANY INVITES ITS SHAREHOLDERS TO ATTEND THE 11TH EXTRAORDINARY GENERAL ASSEMBLY MEETING (FIRST MEETING) VIA MODERN TECHNOLOGY MEANS
7 02/04/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE RECOMMENDATION OF THE BOARD OF DIRECTORS FOR NO DISTRIBUTION OF CASH DIVIDENDS TO SHAREHOLDERS FOR THE FIRST QUARTER OF THE FINANICAL YEAR 2023
8 11/04/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE RESULTS OF 11TH EXTRAORDINARY GENERAL ASSEMBLY MEETING (SECOND MEETING) THROUGH MODERN TECHNOLOGY MEANS
9 09/05/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES IT'S INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED ON 31 MARCH 2023 (THREE MONTHS)
10 29/05/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES OBTAINING A SHARIA-COMPLIANT ISLAMIC CREDIT FACILITY WITH COMPETITIVE PRICES TO PAY BACK THE EXISTING CREDIT FACILITIES
11 08/06/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE RESULTS OF PURCHASE OF ITS OWN SHARES ALLOCATED UNDER THE COMPANY'S EMPLOYEES INCENTIVE SHARES PROGRAM
12 20/07/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES IT'S INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED ON 30 JUNE 2023 (SIX MONTHS)
13 28/09/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES OBTAINING A SHARIA-COMPLIANT ISLAMIC CREDIT FACILITY WITH COMPETITIVE PRICES
14 19/10/2023 ADVANCED PETROCHEMICAL COMPANY ANNOUNCES IT'S INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED ON 30 SEPTEMBER 2023 ( NINE MONTHS )