Sipchem announces to Invites its Shareholders to Attend the (First Meeting) Ordinary General Assembly Meeting
Wednesday, November 13, 2019
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ELEMENT LIST EXPLANATION
Introduction The Board of Directors of Sahara International Petrochemical Company (Sipchem) is pleased to invite the shareholders to attend the 23rd Ordinary General Assembly (OGM)
City and Location of the General Assembly's Meeting Riyadh, Marriott Hotel (Makarm Hall)
URL for the Meeting Location https://goo.gl/maps/Xs1YeE47EH51xD718
Date of the General Assembly's Meeting 2019-12-08 Corresponding to 1441-04-11
Time of the General Assembly's Meeting 18:30
Attendance Eligibility Each shareholder has the right to attend this Ordinary General Assembly meeting from the shareholders registered in the Company's shareholders register at the Depository Center (Depository Center) at the end of the trading session preceding the meeting of the General Assembly and according to the rules and regulations.
Quorum for Convening the General Assembly's Meeting The meeting shall be attended by shareholders representing at least 25% of the share capital in accordance with Article 33 of Sipchem bylaws. If the quorum is not completed at this meeting, a second meeting shall be held one hour after the scheduled time for the first meeting. The second meeting shall be valid regardless of the number of shares represented in it.
General Assembly Meeting Agenda 1- To vote on the election of the Board of Directors for the next term, starting from 10-12-2019 for a period of (3) Gregorian years ending on 09/12/2022 (attached).

 

2- To vote on the formation of the Audit Committee for the next term, starting from 10-12-2019 for a period of (3) Gregorian years ending on 09/12/2022, accordance to Audit Committee Bylaws. The Candidates for membership of the committee are (attached):

1- Mr. Ayidh M. Al-Qarni

2- Mr. Mohammed F. Al-Nader

3- Mr. Mohammed F. Al-Kinani

3- To vote on the board recommendation of appointing Mr. Ayidh M. Al-Qarni Audit Committee Members (independence) effective May 16, 2019, till end of Board Term on December 09, 2019 (attached).

4- To vote on the board recommendation of appointing Eng. Khalid A. Al-Zamil as a Board Member (Non-Executive) on effective October 14, 2019, till end of Board Term on December 09, 2019 (attached).

5- Vote on increasing fees amount of external auditor to review and audit the 1st, 2nd, 3rd and 4th quarters and annual financial statements of 2019 as well as the 1st Q 2020.

6- To Vote on amended Audit Committee Bylaws (attached)

Proxy Form
E-Vote The registered shareholders in the website of the e-trading services may vote on the items of the General Assembly Meeting through electronic voting service. The electronic voting shall start from 10:00 am on 07/04/1441, corresponding to 04/12/2019G and will continue until 4 pm on the Assembly day. Note that registration in TADAWULATY and voting is available free of charge to all shareholders using the following link: www.tadawulaty.com.sa
Eligibility for Attendance Registration and Voting The right to register the attendance of the meeting of the Assembly ends at the time of the Assembly and the right to vote on the Assembly's items to attendees ends at the end of counting votes by the counting committee.

 

 

Shareholder shall assign another shareholder, other than any of the Board members or the company employees, to represent him at the meeting to vote on the meeting agenda, however in order for your nominee to represent you a power of attorney authenticated by the Chamber of Commerce or a bank or other authorized persons, must be sent to the company address as shown below at least 2 days prior to the meeting date, (the proxy form attached), and bring the original proxy on the of OGM Meeting.

Method of Communication Sipchem shareholders are welcome to send their proxy or any inquiries by directly contacting our Investor Relations department by - phone: Tel: (013) 8019373, Fax: (013) 3599610, P.O. Box 130 Al-Khobar 31952. E-Mail: [email protected]