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National Industrialization Company (TASNEE) Announces the Results of The 26th Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | National Industrialization Company announces the results of the 26th Ordinary General Assembly Meeting (First Meeting). |
| City and Location of the General Assembly's Meeting | The Head Office in Riyadh city – remotely via modern technology |
| Date of the General Assembly's Meeting | 2023-04-10 Corresponding to 1444-09-19 |
| Time of the General Assembly's Meeting | 22:00 |
| Percentage of Attending Shareholders | 41.11% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following Board members: 1. Eng. Mubarak Abdullah Al Khafrah (Chairman) 2. Eng. Talal Ibrahim Al Maiman (Vice Chairman) 3. Mr. Musaab Sulaiman Al Muhaidib 4. Mr. Saud Sulaiman Al Juhani 5. Eng. Abdullatif Khalifah Al Melhem 6. Eng. Abdulrahman Sulaiman Al Sayyari 7. Mr. Bader Ali Al Dakhil 8. Eng. Mutlaq Hamad Al Morished 9. Mr. Fahad Abdulrahman Al Mushil 10. Mr. Ahmed Naja Al Theabi |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The meeting was attended by the following Committees’ Chairmen: 1. Eng. Mubarak Abdullah Al Khafrah (Chairman of Executive Committee) 2. Mr. Sami Abdulaziz Al Sheneiber (Chairman of Audit Committee) 3. Eng. Abdulrahman Sulaiman Al Sayyari (Chairman of Nomination and Renumeration Committee) 4. Mr. Saud Sulaiman Al Juhani (Chairman of Risk and Governance Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Reviewed and discussed the Board’s report for the fiscal year ending on 31/12/2022. 2. Reviewed and discussed the Company’s financial statements for the fiscal year ending on 31/12/2022. 3. Approve the auditor’s report on the Company’s accounts for the fiscal year ending on 31/12/2022. 4. Approve the appointment of Price Waterhouse Coopers (PwC) as external auditor, based on the recommendation of the Audit Committee; to examine, review and audit the financial statements for the second and third quarters as well as the annual statements for the fiscal year 2023 and for the first quarter of the year 2024, and to determine the auditor’s fees. 5. Approve the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary company) and Non-Woven Industrial Fabrics Company, which is a subsidiary of Al-Khafrah Holding Company in which the Chairman of the Board Eng. Mubarak Abdullah Al-Khafrah has a direct interest. The transactions include various purchase orders for polypropylene materials. The total purchase during the fiscal year 2022 amounted to SAR 19,146,006 and there are no preferential conditions. 6. Approve the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary Company) and the Converting Industries Company Ltd. (an affiliate of Al-Shaer Trading, Industry and Contracting Company) in which the Board Member Dr. Talal Ali Al-Shair has a direct interest. The transactions include various purchase orders for polyethylene materials. The total purchase during the fiscal year 2022 amounted to SAR 21,890,736 and there are no preferential conditions. 7. Approve paying an amount of SAR 3,500,000 as remuneration to the Board members for the fiscal year ending on 31/12/2022. 8. Approve the discharge of the members of the Board of Directors for the fiscal year ended 31/12/2022. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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