Basic Chemical Industries Co. announces the results of shareholder Ordinary general assembly meeting May 16/18
The Basic Chemical Industries Company (BCI) announces the results of its Ordinary General Assembly Meeting (1st meeting) held at 7:30 pm on Tuesday, 29/08 / 1439H corresponding to 15/05/2018 at the Carlton Al Moaibed Hotel in Dammam Dammam Road The news after the completion of the quorum by attendance rate (42.49%), where the results of the vote on the agenda of the Assembly as follows:
-1Approval of the auditors’ report for the financial year ended 31/12/2017.
-2Approval of the financial statements for the year ended 31/12/2017.
-3 Approval of the report of the Board of Directors for the financial year ended 31/12/2017.
-4 Approval of the appointment PricewaterhouseCoopers of the external auditor of the company from among the candidates on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second and third and annual of fiscal year 2018 and the first quarter of fiscal year 2019 and determine the fees.
-5 Approval of the works and contracts to be concluded between the Company and the company Alaa Azmi Abdul Hadi and Khalifa Abdullah Al Hawas Engineering Consulting, which is one of the related parties (one of the companies owned by the brother of the board member Mr. Abdul Latif Azmi Abdel Latif Abdel Hadi) and has an indirect interest therein Preferred terms are advisory services for the company’s projects where the balance of transactions for 2017 amounted to SR 8,400,000 and authorization for the coming year.
-6Approve the recommendation of the Board of Directors to distribute dividends to shareholders for the year ended 31/12/2017 at a total value of SR 27,500,000 (1) per share and 10% of the share capital. Shareholders’ The Company shall be registered in the Company’s register at the Depository Center at the end of the second trading day following the due date.
-7 Approval of the remuneration of the Chairman and members of the Board of Directors for the financial year ended 31/12/2017 with a total amount of SR 2,054,000,
-8 Approval of the discharge of the members of the Board of Directors for the financial year ended 31 December 2017.
-9 Approval of the appointment of Mr. / Abdul Aziz Talal Ali Tamimi as a member of the Board of Directors of the company (independent member) as of 27/02/2018 successor to Professor / Ihsan Farid Abdul Jawad (resigned).
-10 Approve the recommendation of the Board of Directors of the Company regarding the increase of credit facilities granted to the Company by the Arab National Bank
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