Sipchem invites Shareholders to attend the Ordinary General Assembly Meeting - First Meeting
Wednesday, March 21, 2018
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The Board of Directors of Saudi International Petrochemical Company (Sipchem) is pleased to invite the shareholders to attend the 21th Ordinary General Assembly (OGM) that will be held at 08:30 P.M. on Sunday 01/04/2018 at (Four Seasons hotel London Hall), Riyadh City Location Link https://goo.gl/maps/3PH9Yth7Ecu in order to consider the following agenda:
1. Voting on the Board report for the fiscal year 2017.
2. Voting on the financial statement statements as of 31/12/2017.
3. Voting on the auditors report for the financial year ending 31/12/2017
4. Voting on the resolution that the Board members be exempt from liability for the previous year 2017.
5. Voting on Board of Directors recommendation to distribute cash dividends to shareholders for the fiscal year 2017 at a rate of SR 0.50 per each share representing 5% of the shares nominal value, with a total amount of SR 183,333,333. The eligibility of year 2017 dividend shall be for the shareholders registered in the register of the Securities Depository Center at the end of 2nd trading day following the date of holding the 21th Ordinary General Assembly Meeting
6- Voting on to pay the amount of SR 3,851,000 as remuneration for the Board members for the fiscal year 2017
7. Vote on appointing an external auditor for the company among those nominees based on the recommendation of the Audit committee to review and audit the 1st, 2nd 3rd 4th quarterly and annual of 2018 and the 1st Q 2019 financial statements respectively and determine their remuneration for fiscal year 2018.
Your attention is drawn to the following:
A shareholder shall have the right to attend, also can 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.
Shareholder attendee must show his original national ID to finalize registration process before the meeting begins. The quorum to hold the OGM is 25% of the Company Capital as per article (33) of company bylaws, however in the absence of a quorum required for holding the OGM meeting, a second meeting can be held one hour after the end of the period specified for the first meeting. The second meeting shall be valid regardless of the number of shares represented therein.
It is necessary for each shareholder or their proxies to attend at Four Seasons Hotel at least 30 minutes before the meeting start to finalize the registration.
The shareholders who are registered in the Tadawulaty electronic trading services can remotely vote on the items of the OGM Meeting through (electronic voting) service, and note that the remote voting will start at 10:00 AM on Tuesday, March 27, 2018, and continue until 04:00 PM on the day of the Meeting, on Sunday,April 01, 2018. Therefore, all Sipchem shareholders are invited to participate and vote remotely through Tadawulaty website https://www.tadawulaty.com.sa with free of charge for Sipchem shareholders.
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]