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Middle East Paper Company (MEPCO) INVITES ITS SHAREHOLDERS TO ATTEND THE ORDINARY GENERAL ASSEMBLY MEETING (FIRST MEETING) VIA MODERN TECHNOLOGY.

Element ListExplanation
Introduction The Board of Directors of Middle East Paper Company (MEPCO) is pleased to invite its shareholders to attend the Ordinary General Assembly Meeting (the first meeting), on Wednesday 28/10/1442 H corresponding 09/06/2021 at 06:30 p.m., through means of modern technology, using the tadawulaty System. This is in order to ensure the safety of the shareholders in the Capital Market, in support of the preventive and precautionary efforts, applied by the relevant and competent Health Authorities, and as an extension of the continuous efforts of the Government Agencies in the Kingdom of Saudi Arabia in taking the necessary preventive measures to stop its spread.
City and Location of the General Assembly's Meeting Remotely through contemporary technology, using the Tadawulaty system, from the meeting hall of the Company Head Office in Jeddah.
URL for the Meeting Location https://www.tadawulaty.com.sa
Date of the General Assembly's Meeting 2021-06-09 Corresponding to 1442-10-28
Time of the General Assembly's Meeting 18:30
Attendance Eligibility Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations
Quorum for Convening the General Assembly's Meeting As per Article (32) of the Company's Articles of Association, the quorum for holding the General Assembly Meeting will be (25%) of the capital. In case of non-completion of the quorum at this meeting, a second meeting will be held after one hour of the scheduled time for the first meeting, and this meeting will be valid regardless of the number of the shares represented therein.
General Assembly Meeting Agenda 1) Voting on the Auditor’s Report for the fiscal year ended on December 31, 2020.

2) Voting on the Financial Statements for the fiscal year ended on December 31, 2020.

3) Voting on the Annual Report of the Board of Directors for the fiscal year ended on December 31, 2020.

4) Voting on the appointment of the company’s auditor from among the candidates, based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2021 and the first quarter of the fiscal year 2022, and determine their fees.

5) Voting on the authorization of the Board of Directors to distribute interim dividends bi-annually or quarterly for the fiscal year 2021, in addition to scheduling the due dates and distribution as per the Regulatory Rules and Procedures issued pursuant to the Companies Law, and in proportion with the financial position, cash flows, expansion and investment plans of the company.

6) Voting on delegating to the Board of Directors the authorisation powers of the General Assembly stipulated in paragraph (1) of Article (71) of the Companies Law, for a period of one year starting from the date of the approval by the General Assembly or until the end of the delegated Board of Directors’ term, whichever is earlier, in accordance with the conditions set forth in the Regulatory Rules and Procedures issued pursuant to the Companies Law relating to Listed Joint Stock Companies.

7) Voting on the business and contracts that have been concluded between the company and Al Masirah International for Industrial Investments, and to license them in which the Chairman of the Board of Directors of the company Mr. / Abdullah Abdulrahman Al-Muammar and a member of the Board of Directors Mr. Emad Abdul Qadir Al Muhaidib has a direct interest in it, which is the purchase of cornstarch at an amount of 8,722,682 SAR per the year 2020, according to the prevailing commercial terms (attached).

Proxy Form
E-Vote Shareholders registered in Tadawulaty Services are entitled to vote on the items of the General Assembly meeting agenda online starting from 25/10/1442 H corresponding to 06/06/2021 at 10 a.m. until the end of the Assembly meeting.

Note that registration and voting are available in Tadawulaty Services free for all shareholders through the following link www.tadawulaty.com.sa

Eligibility for Attendance Registration and Voting Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes
Method of Communication We are pleased to receive the questions and inquiries of our esteemed shareholders about the meeting items, starting from the time of this announcement, and they will be answered through the following means of communication:

Phone: 01225669600

E-mail: investors@mepco.biz

Attached Documents     

The Capital Market Authority and the Saudi Stock 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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