National Industrialization Company (Tasnee) Invitation for its Shareholders to Attend The 24th Ordinary General Assembly Meeting (First Meeting) via modern technology

2021-04-08 09:23:00

Element ListExplanation
Introduction TASNEE Board of Directors is pleased to invite its esteemed shareholders to participate and vote in the 24th Ordinary General Assembly meeting (First Meeting) via means of modern technology using Tadawulaty web portal, in order to ensure the safety of traders in the financial market and in support of the preventive and precautionary efforts and measures imposed by the competent health authorities; all of which aim to encounter Coronavirus (COVID-19).
City and Location of the General Assembly's Meeting The Head Office of TASNEE in the city of Riyadh- Business Gate, Building C3, Qurtuba District, Eastern Ring Road. https://www.tadawulaty.com.sa
URL for the Meeting Location https://goo.gl/maps/BnpqcAAdMZgF5es7A
Date of the General Assembly's Meeting 2021-04-29 Corresponding to 1442-09-17
Time of the General Assembly's Meeting 21:45
Attendance Eligibility Each shareholder who is registered in the Company’s Shareholders Register at the Depository Center at the end of the trading session preceding the General Assembly meeting has the right to register/ sign in online to attend and vote using Tadawulaty web portal at the Assembly Meeting according to the applicable rules and regulations.
Quorum for Convening the General Assembly's Meeting In order for the Assembly to convene, it is required as per Article 16-9 of the Company’s Bylaws to register the attendance of shareholders representing at least a quarter (25%) of the Company's share capital for the first meeting; however, the second meeting shall be held one hour after the first meeting (in the event that the attendance quorum for the first meeting is not complete), and shall be deemed valid irrespective of the number of the shareholders present.
General Assembly Meeting Agenda 1.Voting on the Board of Directors’ report for the fiscal year ending on 31 December 2020 2.Voting on the auditor’s report for the fiscal year ending on 31 December 2020. 3.Voting on the Company’s financial statements for the fiscal year ending on 31 December 2020. 4.Voting on the appointment of the 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 2021 and for the first quarter of the year 2022, and to determine the auditor’s fees. 5.Voting on the business transactions and contracts that took place between the National Industrialization Petrochemicals Marketing Co. (A 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 ending on 31 December 2020 amounted to SAR 10,958,781. There were no favorable terms. (Attachment). 6.Voting on the business and contracts that took place between the National Industrialization Petrochemicals Marketing Co. (A TASNEE subsidiary company) and the Factory of 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 in. The transactions include various purchase orders for polypropylene materials. The total purchase during the fiscal year ending on 31 December 2020 amounted to SAR 4,347,099. There were no favorable terms. (Attachment). 7.Voting on disbursement of an amount of SAR 350,000 as an award for each Board member for the fiscal year ending on 31 December 2020. 8.Voting on the Board members' release from liability for the fiscal year ending on 31 December 2020.
Proxy Form
E-Vote Distinguished shareholders registered in Tadawulaty Portal can vote remotely on the Assembly’s topics starting at (10:00 AM) on Sunday 13/09/1442 Hijri 25/04/2021, till the end of the Assembly convention. Registration and Voting in Tadawulaty will be available and free for all shareholders using the following link: www.tadawulaty.com.sa
Eligibility for Attendance Registration and Voting The right to attend the Meeting ends before the beginning of the meeting, and the right to vote ends once the voting sorts has concluded.
Method of Communication If you have any inquiries, please contact the Investor Relations Department via the following phone number: 009664174161, during the official working hours, or via the following e-mail: (investorrelations@tasnee.com)
Additional Information Shareholders can discuss topics on the agenda of the General Assembly Meeting and ask questions about them through contacting us via the above contact information until the end of the meeting.
Attached Documents