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National Industrialization Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | National Industrialization Co. Announces the Results of the twenty seventh 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 | 2026-04-30 Corresponding to 1447-11-13 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 38.70% |
| 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. Mr. Musaab Suliman Al-Muhaidib (Chairman). 2. Eng. Talal Ibrahim Al-Maiman (Vice Chairman). 3. Eng. Abdulrahman Suliman Al-Sayyari. 4. Mr. Fahad Abdulrahman Al-Mishal. 5. Mr. Ahmad Naja Al-Theabi. 6. Mr. Fawaz Mohammed Al-Fawaz. 7. Dr. Muath Khalid Al-Zamil. 8. Mr. Ahmad Abdulrahman Al-Humaidan. 9. Mr. Mohammed Abdullah Al-Hagbani. 10. Eng. Abdulaziz Khalifah Al-Mulhem. |
| 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. Mr. Fahad Abdulrahman Al-Mishal (Chairman of Executive Committee) 2. Mr. Sami Abdulaziz Al-Sheneiber (Chairman of Audit Committee) 3. Mr. Ahmad Abdulrahman Al-Humaidan (Chairman of Nomination and Renumeration Committee) 4. Dr. Muath Khalid Al-Zamil (Chairman of Risk and Governance Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Review and discuss the Board’s report for the fiscal year ending on 31/12/2025. 2. Review and discuss the Company’s consolidated financial statements for the fiscal year ending on 31/12/2025. 3. Approving the auditor’s report on the Company’s accounts for the fiscal year ending on 31/12/2025 after discussion. 4. Approving 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 2026 and for the first quarter of the year 2027, and to determine the auditor’s fees with amount 832,375 SAR. 5. Approving the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary company) and Non-Woven Industrial Fabrics Company, in which the Former Chairman of the Board Eng. Mubarak Abdullah Al-Khafrah has an indirect interest. The transactions include various purchase orders for polypropylene materials. The total purchase during the fiscal year 2025 amounted to SAR 28,006,218.59 and there are no preferential conditions. 6. Approving the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary company) and Astra Polymer Compounding Company, in which the Board Member Mr. Mohammed Abdullah Al-Hagbani has a direct interest. The transactions include purchase orders for polypropylene and polyethylene materials. The total purchase during the fiscal year 2025 amounted to SAR 204,785.63 and there are no preferential conditions. 7. Approving the authorization of the Board of Directors with the authority of the Ordinary General Assembly to grant the license stipulated in paragraph (1) of Article Seventy-One of the Companies Law, for a period of one year from the date of approval of the General Assembly or until the end of the term of the authorized Board of Directors, whichever is earlier, in accordance with the conditions stipulated in the regulatory controls and procedures issued in implementation of the Companies Law for listed joint-stock companies. 8. Approving the discharge of the members of the Board of Directors for the fiscal year ended on 31/12/2025. |
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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