The board of directors of Methanol Chemicals Company is pleased to invite its shareholders owning 20 shares or more to attend Extraordinary general assembly Meeting to be held in the Novotel Hotel , Dammam on 27-04-2014 corresponding to 27-06-1435 at 17:00 to consider the following agenda:
1- Amendment of Article 3 of the Company Articles of Association related to the Company Objectives which stated that :
The objective for which the Company is formed is to produce and market the following materials :
- Liquid Formaldehyde and liquid Urea Formaldehyde or their combination with different concentrations, Para Formaldehyde , Formaldehyde Resins Liquid & Powder , Hexamethylene Tetramine (Hexamine) , Phenol Formaldehyde Resins , Super plasticizers , Methanol , Carbon Monoxide , Monomethylamine, Dimethylamine & Trimethylamine , Dimethyl Formamide , Dimethyl Carbonate , Pentaerythritol , Sodium Formate , Acetaldehyde , Monomethylamine, Dimethylamine, Trimethylamine
The Company shall operate its activities after obtaining the necessary licenses from the competent authorities
article 3 amended into :
The objective for which the Company is formed is to produce and market the following materials :
Liquid Formaldehyde and liquid Urea Formaldehyde or their combination with different concentrations, Para Formaldehyde, Formaldehyde Resins Liquid and Powder, Hexamethylene Tetramine (Hexamine), Phenol Formaldehyde Resins, Super plasticizers, Carbon Monoxide, Dimethyl Formamide, Dimethyl Carbonate, Pentaerythritol, Sodium Formate, Acetaldehyde, Ammonia, Methanol and Methanol based Derivatives, Monomethylamine, Dimethylamine, Trimethylamine and their Derivatives, Propane and Propane based Derivatives, Specialty Chemicals and Petroleum Products and Petroleum based Derivatives
The Company shall operate its activities after obtaining the necessary licenses from the competent authorities
2- Amendment of Article 4 of the Company Articles of Association related to Participation with Others which stated that : The Company shall have the right to execute and achieve its objectives inside and outside the Kingdom of Saudi Arabia including free zones after obtaining the necessary licenses from the competent authorities. The Company may have also an interest or may participate in any manner with individuals, establishments or companies carrying out similar businesses or those which may help it in achieving its objectives. It may also have the right to own stock and shares in the said companies or merge with or buy such companies provided that such transaction shall not exceed 20% of its free reserve and 10% of the capital of the company participated in. in such case, the total sum of the said participation shall not exceed the value of these reserves and the Ordinary General Assembly shall be notified therewith at its first following meeting
Article 4 amended as follow :
The Company may have an interest or may participate in any manner with individuals, establishments or companies carrying out similar businesses or those which may help it in achieving its objectivesIt may also have the right to own stocks and shares in the said companies or merge with or buy such companies. The Company may also have an interest or may participate in any manner with other companies provided that such participation shall not exceed 20% of its free reserve and 10% of the capital of the company in which it shall participate, in such case, the total sum of the said participation shall not exceed the value of these reserves and the Ordinary General Assembly shall be notified therewith at its first following meeting.
The quorum necessary for the meeting to be in session should be attended by the shareholders representing 50% of the company's capital. Each shareholder owning 20 or more shall have the right to attend the general assembly meeting whether in person or by proxy, subject to presentation of corroborating evidence or a written power of attorney endorsed by the chamber of commerce authorizing another shareholder, other than the member of the board of directors or employees of the company, to attend the general assembly meeting on their behalf and it should be sent to Methanol Chemicals Company, Novotel Business Park, Dammam/ Khobar Highway, P.O. Box 3139, Dammam 31471, c/o Secretary, Board of Directors and delivered to the company prior 3 day 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.