عربي
16/03/2023

Tasnee Invites its Shareholders to attend the 26th Ordinary General Assembly Meeting (First Meeting) via Modern Technology

Introduction:

Tasnee Board of Directors is pleased to invite the Company’s shareholders to participate and vote in the 26th Ordinary General Assembly Meeting (First Meeting) that would be held remotely via modern technology at 10:00 PM on Monday April 10, 2023.

City and Location of the General Assembly's Meeting:

The Head Office in Riyadh city – remotely via modern technology

URL for the Meeting Location: https://www.tadawulaty.com.sa/

Date of the General Assembly's Meeting:
2023-04-10 Corresponding to 1444-09-19


Time of the General Assembly's Meeting: 10:00 PM

Attendance Eligibility

The eligibility to attend the Meeting will be for shareholders registered in the Company shareholders register at the Depository Center as of the end of trading session prior to the meeting day as per the rules and regulations.

Quorum for Convening the General Assembly's Meeting
The Ordinary General Meeting shall be valid only if attended by shareholders representing at least quarter (25%) of the Company's Share Capital as per Article 16-9 of the Company’s Bylaws. In case of non-completion of the quorum at the first meeting, a second meeting will be held one hour after the first meeting. The second meeting shall be valid regardless of the number of shares represented.

General Assembly Meeting Agenda:

  1. Review and discuss the Board’s report for the fiscal year ending on 31/12/2022.
  2. Review and discuss the Company’s financial statements for the fiscal year ending on 31/12/2022.
  3. Voting on the auditor’s report on the Company’s accounts for the fiscal year ending on 31/12/2022.
  4. Voting on the appointment of the external auditor, based on the recommendation of the Audit Committee; to examine, review and audit the financial statements for the second and third quarters as well as the annual statements for the fiscal year 2023 and for the first quarter of the year 2024, and to determine the auditor’s fees.
  5. Voting on the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary company) and Non-Woven Industrial Fabrics Company, which is a subsidiary of Al-Khafrah Holding Company in which the Chairman of the Board Eng. Mubarak Abdullah Al-Khafrah has a direct interest. The transactions include various purchase orders for polypropylene materials. The total purchase during the fiscal year 2022 amounted to SAR 19,146,006 and there are no preferential conditions.
  6. Voting on the business and contracts concluded between National Industrialization Petrochemicals Marketing Co. (TASNEE subsidiary Company) and the Converting Industries Company Ltd. (an affiliate of Al-Shaer Trading, Industry and Contracting Company) in which the Board Member Dr. Talal Ali Al-Shair has a direct interest. The transactions include various purchase orders for polyethylene materials. The total purchase during the fiscal year 2022 amounted to SAR 21,890,736 and there are no preferential conditions.
  7. Voting on paying an amount of SAR 3,500,000 as remuneration to the Board members for the fiscal year ending on 31/12/2022.
  8. Voting on the discharge of the members of the Board of Directors for the fiscal year ended 31/12/2022.


E-Vote:

The shareholders registered in Tadawulaty Portal can vote remotely on the General Assembly meeting’s agenda starting at (01:00) on Wednesday 06\04\2023, till the Ordinary General meeting ended. Registration and Voting in Tadawulaty will be available and free for all shareholders using the following link: http://www.tadawulaty.com.sa

Eligibility for Attendance Registration and Voting:
Eligibility for attendance registration and voting ends upon the convening of the General Assembly Meeting. Eligibility for voting on the meeting agenda ends upon the Counting Committee concluding counting of the votes.

Method of Communication:

If you have any inquiries, please contact the Investor Relations Department via the following phone number: 011-2222205 during the official working hours, or via the following e-mail: (IR@tasnee.com)