The Board of Directors of Methanol Chemicals Company is pleased to invite all its shareholders owning 20 shares or more to attend the second Ordinary General Assembly Meeting to be held at 5 pm. on Saturday, 11/6/1432 H. corresponding to 14/05/2011 at NOVOTEL DAMMAM Hotel (Dammam Khobar High way) in Dammam, to consider the following agenda items:
1. Approval of the Board of Directors Report for the year ended December 31, 2010.
2. Approval of the financial statements and the external auditors report for the year ended December 31, 2010.
3. Releasing the Board of Directors from liabilities for the year ended December 31, 2010.
4. Approval to raise any legal proceeding against the previous member of the Board of Directors in relation to his competition activities or any other legal violations.
5. Approval of the appointment of the External Auditor from a candidates nominated by the Audit Committee to audit the company accounts for 2011, and determining their annual and quarterly fees.
6. Approval of the appointment of Mr.Mishal Hamad Ali Mohamed Kanoo instead of late Mr. Abdullah Ali Kanoo.
7. Approval of non-distribution of dividends for the fiscal year 2010 in purpose of supporting of the company's financial status and increase its ability to meet all obligations arising from the banking facilities agreements.
So, The legal quorum for Ordinary General Assembly Meeting is for company shareholders representing at least 50% of its capital . Each shareholder wishes to attend the Meeting, must attendance before one hour at least to finish the registration procedures and to bring along with ID card and all supporting documents, and for those who cannot attend may appoint another shareholder must not be one of the board members or company employees or providing a technical or administrative service to the company permanently to represent him at the meeting through a legal authorization.
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.