|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. |
|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).