Saudi Basic Industries Corp. — AGM Information 2020

Mar 29, 2020

Saudi Basic Industries Corporation (SABIC) invites its shareholders to attend the Ordinary General Meeting (First Meeting)

2010 · 29/03/2020 15:07:46 · Announcement #58155 · View on Saudi Exchange

Saudi Basic Industries Corporation (SABIC) invites its shareholders to attend the Ordinary General Meeting (First Meeting)

Element List	Explanation
Introduction	In the context of supporting the preventive and precautionary efforts conducted by relevant authorities to address the new Corona Virus (COVID-19), and a reference to the circular issued by the Capital Market Authority that includes the suspension of conducting General Assembly Meetings by physical attendance until further notice, and instead, conducting these meetings through modern technology means that enables shareholders to participate in its deliberations and voting on its decisions, The Board of Directors of SABIC is pleased to invite the Company’s shareholders to attend the Ordinary General Meeting (First Meeting) via modern technology means provided by Tadawulaty.
City and Location of the General Assembly's Meeting	SABIC HQ, Riyadh
URL for the Meeting Location	Hyperlink of the meeting location
Date of the General Assembly's Meeting	2020-04-21 Corresponding to 1441-08-28
Time of the General Assembly's Meeting	18:30
Attendance Eligibility	The eligibility to attend the Ordinary General Meeting remotely and vote on the meeting’s agenda , will be for shareholders registered in the Company share registry at the Depository Center as of the end of trading prior to the Ordinary General Meeting day, and as per the rules and regulations. The right to vote ends once the voting sorts has concluded.
Quorum for Convening the General Assembly's Meeting	The Ordinary General Meeting shall be valid only if attended by shareholders representing at least half of the Share Capital. In case of non-completion of the quorum at this meeting, the Ordinary General Meeting shall convene at the invitation of a second meeting to be held within the following (30) day. The second meeting shall be valid irrespective of the number of shares represented therein.
General Assembly Meeting Agenda	1- Voting on External Auditor Report for the fiscal year ended on 31/12/2019.

2- Voting on the Financial Statements for the fiscal year ended on 31/12/2019.

3- Voting on the Board of Directors Report for the fiscal year ended on 31/12/2019.

4- Voting on the appointment and determining the fees of an External Auditor for the Company from among the candidates nominated based on the recommendation of Audit Committee to review and audit financial statements of the second quarter, third quarter, fourth quarter and the annual of the fiscal year 2020. In addition to the first quarter of the fiscal year 2021.

5- Voting on the resolution of the Board of Directors regarding the dividends distributed for the first half of 2019 (SAR 6,600,000,000) at SAR 2.20 per share, which represents 22% of the par value. (Attached)

6- Voting on the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of 2019 with total amount of (SAR 6,600,000,000) at SAR 2.20 per share, which represent 22% of the par value. Eligibility for the second half dividends of the year will be to the shareholders owning shares on the due date (Ordinary General Meeting date), and those shareholders registered in the Company’s share registry at the Depository Center at the end of the second trading day following the due date. The dividends will be distributed on 12/05/2020.

7- Voting to amend charter of Remuneration and Nomination Committee. (Attached)

8- Voting on the discharge of the Board of Directors members for the fiscal year ended 31/12/2019.

9- Voting on disbursement of SAR (1,800,000) as remuneration to the Board members for the fiscal year ended as of 31/12/2019.

10- Voting on authorizing the Board of Directors to distribute interim dividends, semi-annually or quarterly, for the fiscal year 2020, and determine the maturity and disbursement date as per the rules and regulations of the Companies Law, in line with the Company’s financial position, cash flows and expansion and investment plans. Proxy Form E-Vote The shareholders may remotely vote on the General Assembly Meeting’s agenda via (E-voting service) through Tadawulaty website www.tadawulaty.com.sa. The remote voting will start on Friday 17/04/2020 Corresponding to 24/08/1441 H at 10:00 AM, and the voting will end once the Ordinary General Meeting ended. Please note that registration in Tadawulaty service and voting is provided free of charge. Eligibility for Attendance Registration and Voting Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes Method of Communication For inquiries related to agenda of the General Meeting or for general inquiries, please contact Investor Relations Department at:

1- Telephone No.: 011-2258000, Extension- 1

2- Mobile No.: +966530013051

3- Email: IR@sabic.com Additional Information The Company would like to draw the attention of non-resident foreign investors that the cash dividends transferred by the resident financial intermediary are subject to a deduction tax of 5% upon direct transfer to the non-resident investors account or credited to his/her local bank account in accordance with the regulations issued by General Authority of Zakat and Tax. Attached Documents  

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.