| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Methanol Chemicals Company (Chemanol) is pleased to announce to the Company’s shareholders the results of the Ordinary General Assembly Meeting (second meeting), held on Thursday 17/11/1443 H corresponding to 16/06/2022 at 06:30 pm. via modern technology means provided by Tadawulaty at the Company’s Head Office in Jubail Industrial City. the attendance was 30.93 % of the Company’s total share capital. |
| City and Location of the General Assembly's Meeting | Company Head Office – Jubail Industrial City |
| Date of the General Assembly's Meeting | 2022-06-16 Corresponding to 1443-11-17 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 30.93% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the meeting: |
1. Eng. Ali Abdul Aziz Al-Turki (Chairman).
2. Mr. Melfi Manahi Al-Marzoqi (Vice Chairman).
3. Mr. Hani Sulaiman Al-Saleh (Board Member).
4. Eng. Saud Abdullah Al-Sanea (Board Member).
5. Mr. Abdullah Abdul Rahman Bu-Ali (Board Member)
6. Eng. Abdullah Abdulaziz al Znaedi (Board Member.)
7. Eng. Waleed Abdulaziz Al-Showair (Board Member).
8. Mr. Yousif Abdullah Abdulaziz Al Rajhi (Board Member).
9. Eng. Ali Mohamed Al-Asiri (Board Member & CEO)
2. Mr. Saad Ibrahim Al-Mushawah (Chairman of Audit Committee)
3. Mr. Hani Sulaiman Al-Saleh (Chairman of Nomination and Remuneration Committee).
4. Eng. Saud Abdullah Al-Sanea (Chairman of Marketing Committee).
2. Approval of the auditor’s report for the fiscal year ending on 31/12/2021.
3. Approval of the audited financial statements for the fiscal year ending on 31/12/2021.
4. Approval of increasing the number of Audit Committee seats from (3) to (4) seats, whereby the number of Committee members becomes (4) members by appointing Mr. Yousif Abdullah Abdul Aziz Al-Rajhi (an independent member) as a member of the Committee starting from the date of the General Assembly’s approval until the end of the current Audit Committee Term on 11/11/2024.
5. Approval of appointing Messrs. Ernst and Young as external auditor for the Company from among the nominees based on the Audit Committee's recommendation. The appointed auditor shall examine, review, and audit the second, third, and fourth quarters and annual financial statements of the fiscal year 2022, and the first quarter of the fiscal year 2023; as well as determining their fees.
6. Approval of delegating to the Board of Directors the authorization 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. Approval of amending the Remuneration Policy for Board Members, Committees and Senior Executives.
8. Approval of amending the Board Membership Policies and Standards.
9. Approval of amending the Nomination and Remuneration Committee Regulations.
10. Approval of amending the Audit Committee Regulations.
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.