The board of directors of Advanced Petrochemical Company is pleased to invite its shareholders owning 20 shares or more to attend its Fifth Extraordinary General Assembly Meeting to be held in the Headquarter in Dammam (Gulf Road Dammam Corniche - SAMEC Building fifth floor) on 25-02-2014 corresponding to 25-04-1435 at 04:30 p.m to consider the following agenda:
1. Approval of the 2013 Board of Directors Report.
2. Approval of the company financial statements for the period from 01-01-2013 to 31-12-2013.
3. Approval of the Board of Directors recommendation to distribute monetary dividends for the second half of 2013 of (204.99) million Saudi riyals by 1.25 riyals per share, which represent (12.5%) of the share capital, Only shareholders registered in the company shareholders records at the end of the Tadawul of the date of holding the Fifth Extraordinary General Assembly shall be eligible to receive the dividends. This brings the total earnings, which will be distributed for the year ended 31.12.2013 is (368.89) million Saudi riyals by 2.25 riyals per share.
4. Approval of the Board of Directors remuneration (200,000) for each Member of the Board of Directors for the fiscal year ended on 31 December 2013.
5. Discharge the members of the Board of Directors from liability for period from 01-01-2013 to 31-12-2013.
6. To approve the recommendation of the Audit Committee on the selection of the external auditor to review the quarterly financial statements and annual company and determine his remuneration for fiscal year 2014.
7. Approval Procedure related to attend business meetings allowance for Member of Board Directors.
8. Approval of an amendment to article 4 bylaws of advanced petrochemical company, concerning participation and mergers as attached.
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 Advanced Petrochemical Company P.O box 11022, Jubail Industrial City, Fax No. (013-3566005) shareholders relation and delivered to the company before the meeting.
Contact details : shareholder relation over the phone (013-3566061) or email: Shares@advancedpetrochem.com.
Additional information : Advanced Petrochemical Company would like to remind its shareholders that they can vote in the electronic voting.
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.