GAS GA to discuss SR2.5 mln profit distribution for 2021

The Board of Directors of the Natural Gas Distribution Company is pleased to invite the honorable shareholders to participate and vote in the Extraordinary General Assembly meeting (the first meeting), which is scheduled to be held via modern technology means, on Wednesday 9 Dhu al-Qa’dah 1443 AH corresponding to June 8, 2022 AD at 19:30 pm.

General Assembly Meeting Agenda:

1. Vote on the Board of Directors’ report for the fiscal year ending on December 31, 2021 AD.
2. Vote on the company’s auditor’s report for the fiscal year ending on December 31, 2021 AD.
3. Vote on the financial statements for the fiscal year ending on December 31, 2021 AD.
4. Vote to absolve the members of the Board of Directors from liability for the fiscal year 2021 AD.
5. To vote on appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the first, second, third and annual quarters of the fiscal year 2022 AD, and the first quarter of the fiscal year 2023 AD, and determine his fees.
6. Vote on updating the remuneration policy for the members of the Board of Directors and the committees emanating from the Board and the Executive Management (attached).
7. Vote on authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2022 AD.
8. Vote on the Board of Directors’ recommendation to distribute cash dividends to shareholders for the year 2021, amounting to (2,500,000) Saudi riyals at (0.50) riyals per share, and at a rate of (5%) of the company’s capital of (50,000,000) Saudi riyals. Provided that the eligibility is for the shareholders who own shares at the end of trading on the day of the general assembly meeting and who are registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, provided that the dividend distribution date will be announced later.
9. Amending Article No. (2) of the Articles of Association relating to the name of the company (attached).
10. Amending Article No. (3) of the Articles of Association related to the objectives of the company (attached).
11. Amending Article No. (8) of the Articles of Association related to subscribing to shares (attached).
12. Amending Article No. (13) of the Articles of Association relating to the Shareholders’ Register (attached).
13. Amending Article No. (14) of the Articles of Association relating to share certificates (attached).
14. Amending Article No. (19) of the statute relating to the vacant position in the Council (attached).
15. Amending Article No. (47) of the Articles of Association relating to the distribution of profits (attached).