The Saudi Basic Industries Corporation (SABIC) held an ordinary General Assembly Meeting at 5pm on April 13 after a quorum, and approved its agenda as follows:
1.Approval of the external corporate auditors report and the final accounts for the fiscal year ending December 31, 2012.
2.Approval of the Board of Directors report for the financial year ending December 31, 2012.
3.Approval of the Boards recommendation to distribute 15,000,000,000 SR cash dividends at SR 5 per share for 2012 representing 50% of the nominal share value. SR 2 per share has been distributed for the first half of 2012. Eligibility for the second half of the profits representing 9,000,000,000 SR at SR 3 per share representing 30% of the nominal share value, will be for the shareholders registered in Tadawul by the end of trading on the day of the Assembly meeting. Payment of dividends will begin on April 27, 2013.
4.Approval of the remuneration of the Board of Directors for the fiscal year ending December 31, 2012.
5.Approval to add the remaining net profits to the general reserve.
6.Discharge of the members of the Board of Directors for the fiscal year ending December 31, 2012.
7.Approval of the recommendation of the Audit Committee on the selection of an external auditor to review the quarterly financial statements and corporate annual reports and determine the auditors fees for the fiscal year 2013. PWC was assigned to be the external auditor.
8.Selecting four members (three of which, at least, are independent) from the nominees list to represent shareholders on the board of directors in its next session starting from the approval of the general assembly and for a term of three years. The Board members were selected by an election. The following persons were selected: Mr. Abdullah Mohammad Al-Issa, Dr. Khaled Hamza Nahas, Mr. Mohammad Abdullah Al-Khurashi and Mr. Abdulaziz Habdan Al-Habdan
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.