Methanol Chemicals Company is pleased to announce the decisions made during its third Ordinary General Assembly Meeting (Second Meeting) held on Saturday, 26/07/1433 H. corresponding to 16/06/2012 at NOVOTEL Hotel in Dammam after completing the legal quorum. The following items were approved by majority of attending shareholders:
I.Approval of the Board of Directors Report for the year ended December 31, 2011;
II.Approval of the financial statements and the external auditors report for the year ended December 31, 2011;
III.Releasing the Board of Directors from liabilities for the year ended December 31, 2011;
IV.Approval of the appointment of Ms/ KPMG as an External Auditor, as nominated by the Audit Committee, to audit the company accounts for 2012 for an annual fee of SAR 125,000 (comprising of SAR 10,000 per quarter + SAR 85,000 for annual financial statements);
V. Approval of non-distribution of dividends for the fiscal year 2011 in order to support the companys financial situation and promote the implementation of its growth plans & future projects;
VI.Election of new Board council starts from 14/11/2012 for the following members:
1.Mr. Abdullah Mohammed Al Mazrui
2. Mr. Khalid Bin Hammad Al Zamil
3.Mr. Adib Bin Hammad Al Zamil
4.Mr. Bader Bin Abd El Aziz Kanoo
5.Mr. Mishal Hammad Ali Kanoo
6.Mr. Fahad Abd El Mohsen Al Nafisi
7.Mr. Hammad Mohammed Al Manaa
8.Mr. Sami Mohammed Jalal
9.Mr. Abdullah Ali Al Sanee
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