National Industrialization Company (Tasnee) Invites Its Shareholders to Attend The 25th Ordinary General Assembly Meeting (First Meeting) via modern technology
|Introduction||TASNEE Board of Directors is pleased to invite the Company’s shareholders to participate and vote in the 25th Ordinary General Assembly meeting (First Meeting) that would be held using means of modern technology at 21:45 on Wednesday 20/04/2022.|
|City and Location of the General Assembly's Meeting||The Head Office in Riyadh city – remotely via modern technology|
|URL for the Meeting Location||https://www.tadawulaty.com.sa|
|Date of the General Assembly's Meeting||2022-04-20 Corresponding to 1443-09-19|
|Time of the General Assembly's Meeting||21:45|
|Attendance Eligibility||The eligibility to attend the Meeting will be for shareholders registered in the Company Shareholders Register at the Depository Center as of the end of trading session prior to the meeting day as per the rules and regulations.|
|Quorum for Convening the General Assembly's Meeting||The Ordinary General Meeting shall be valid only if attended by shareholders representing at least quarter (25%) of the Company's Share Capital as per Article 16-9 of the Company’s Bylaws. In case of non-completion of the quorum at the first meeting, a second meeting will be held one hour after the first meeting. The second meeting shall be valid regardless of the number of shares represented.|
|General Assembly Meeting Agenda||1. Voting on the Board of Directors’ report for the fiscal year ending on 31/12/2021. |
2. Voting on the auditor’s report for the fiscal year ending on 31/12/2021.
3. Voting on the Company’s financial statements for the fiscal year ending on 31/12/2021.
4. Voting on the appointment of the 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 2022 and for the first quarter of the year 2023, and to determine the auditor’s fees.
5. Voting on the resolution of the Board of Directors to appoint Eng. Mutlaq Hamad Al Morished (Executive Director – CV attached) as a member of the Board of Directors starting from 28/09/2021 until the end of the current term of the Board, on 05/07/2022, in succession to the previous Board member Mr. Ibrahim Ali Al Qadhi (Non-Executive Director).
6. Voting on the update of Nominations and Remunerations Committee Charter (attached).
7. Voting on the business and contracts that took place between the National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary company) and the Factory of 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 in. The transactions include various purchase orders for polypropylene materials. The total purchase during the fiscal year ending on 31/12/2021 amounted to SAR 28,762,665 and there are no preferential conditions (attached).
8. Voting on the business transactions and contracts that took place between the 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 ending on 31/12/2021 amounted to SAR 23,380,589 and there are no preferential conditions (attached).
9. Voting on the election of the Board of Directors’ members for the next Board term of three years starting on 06/07/2022 and ending on 05/07/2025 (CVs are attached).
10. Voting on the formation of the Audit Committee, defining its duties, working procedure and members’ remuneration for the new term of three years – starting on 06/07/2022 and ending on 05/07/2025, the candidates are the following (CVs are attached):
1. Mr. Sami Abdulaziz Alshenaiber
2. Mr. Bader Ali Saleh Al Dakhil
3. Mr. Musaab Sulaiman Al Muhaidib
4. Mr. Maher Saad Alaiyadhi
11. Voting on disbursement of an amount of SAR 350,000 as an award for each Board member for the fiscal year ending on 31/12/2021.
12. Voting on the discharge of the members of the Board of Directors for the fiscal year ended 31/12/2021.
|E-Vote||The shareholders registered in Tadawulaty Portal can vote remotely on the General Assembly Meeting’s agenda starting at (10:00 AM) on Sunday 17/04/2022, till the Ordinary General Meeting ended. Registration and Voting in Tadawulaty will be available and free for all shareholders using the following link: www.tadawulaty.com.sa|
|Eligibility for Attendance Registration and Voting||The right to attend the Meeting ends before the beginning of the meeting, and the right to vote ends once the voting sorts has concluded.|
|Method of Communication||If you have any inquiries, please contact the Investor Relations Department via the following phone number: 011-2222205 extension (2), during the official working hours, or via the following e-mail: (IR@tasnee.com)|
|Additional Information||Shareholders can discuss topics on the agenda of the General Assembly Meeting and ask questions about them through contacting us via the above contact information until the end of the meeting.|
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.