Advanced Petrochemical Company Announces the Appointment of the Chairman and the Vice Chairman of the Board of Directors and the Formation of the Board Committees

Advanced Petrochemical Company announces that the new Board of Directors in its fourth term commencing 1/10/2016G for a period of three (3) years has issued resolutions in its first meeting held on 03/01/1438H corresponding to 04/10/2016G. The Board resolved in the said meeting the appointment of Mr. Khalifa Abdullatif Al Mulhim as the chairman of the Board and the appointment of Engr/ Abdullah Mogbil Abdullah Al Garawi as the Vice Chairman of the Board. The Board also approved the names of the Company's representatives before the Capital Market Authority. The Board also resolved the formation of the Board Committees, as well as their chairmen, as follows:

1. The Executive Committee.
2. The Nominations & Remunerations Committee.
3. The Investment Committee.

Advanced Petrochemical Company would like to explain that the nominees for the Chairmanship and the membership of the Audit Committee shall be presented for voting in the first next Ordinary General Meeting of the Company in compliance with Article (101) of the new Companies Law.