NGDC

01 July, 2024 09:23

Natural Gas Distribution Co. Announces the Results of the Extraordinary General Assembly Meeting, ( First Meeting )

Element ListExplanation
Introduction The Natural Gas Distribution Company announces the results of the Ordinary General Assembly Meeting (First Meeting)
City and Location of the General Assembly's Meeting Riyadh - the headquarters of the company's general administration through modern technology
Date of the General Assembly's Meeting 2024-06-30 Corresponding to 1445-12-24
Time of the General Assembly’s Meeting 18:30
Percentage of Attending Shareholders 54.5%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The following board members attended the meeting: His Excellency Eng. Abdul Rahman Abdul Aziz bin Sulaiman (Chairman of the Board of Directors). His Excellency Mr. Abdul Latif Omar bin Sulaiman Al Abdul Latif (Vice Chairman of the Board of Directors). His Excellency Engineer Majid Abdul Rahman Al-Osailan. His Excellency Engineer / Abdul Hadi Ayed Al-Qahtani. His Excellency Engineer Raed Nasser Al-Haidari. The professor apologized for his absence: His Excellency Mr. Majid Abdullah Al-Issa.
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf His Excellency Engineer Raed bin Nasser Al-Haidari (Chairman of the Audit Committee) His Excellency Eng. Majid bin Abdul Rahman Al-Osailan (on behalf of the Chairman of the Nominations and Remuneration Committee)
Voting Results on the Items of the General Assembly's Meeting Agenda's The Board of Directors’ report for the financial year ending December 31, 2023 was reviewed and discussed. The financial statements for the fiscal year ending December 31, 2023 were reviewed and discussed. - Approval of the company’s auditor’s report for the financial year ending on December 31, 2023 AD after discussing it. - Approval of amending the company’s bylaws to comply with the new companies’ bylaws, and rearranging the bylaws’ articles and numbering them to be compatible with the proposed amendments. - Approval of amending Article (17) of the company’s bylaws, related to (company management). - Approval of the Board of Directors’ recommendation to distribute cash dividends to shareholders for the year 2023, amounting to (2,500,000) Saudi riyals, at (0.50) riyals per share and at a rate of (5%) of the company’s capital, amounting to (50,000,000) Saudi riyals. Eligibility shall be for shareholders who own shares at the end of trading on the day of the General Assembly and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the entitlement date, provided that the dividends are distributed on 07-16-2024 AD. - Approval of the appointment of the United Accountants Company (R Name M) from among the candidates based on the recommendation of the Audit Committee; This is to examine, review and audit the semi-annual financial statements and the annual financial statements for the fiscal year 2024 AD, and determine his fees, which are estimated at (150,000) Saudi riyals. - Approval to release the members of the Board of Directors from their liabilities for the fiscal year 2023.

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