Aramco Base Oil Company Luberef GA approves distribution of cash dividends of SAR 841,2 mln for 2nd half of 2022

Saudi Aramco Base Oil Company – Luberef announced the results of the Ordinary General Assembly Meeting (the first meeting) held on 30.04.2023 through Modern Technology Methods.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1. The Company’s annual board report for the financial year ended on 31 December 2022 was viewed and discussed.
2. The Company’s financial statements for the financial year ended on 31 December 2022 was viewed and discussed.
3. Approve the external auditor report for the financial year ended on 31 December 2022 after being discussed.
4. Approve the appointment of Price Waterhouse Coopers International Limited Company (PWC) as the External Auditor for the company from amongst the candidates based on the board’s and audit committee’s recommendation, and setting its fees for review and audit financial statements of the First, second, third quarter, and the annual of the fiscal year 2023.
5. Approve the board’s recommendation to distribute cash dividend for the second half of 2022 with a total amount of SAR 841,285,750, and representing SAR 5 per share representing 50% of the nominal value of the share. The eligibility shall be for the shareholders who own the shares at the close of the market on the day of general assembly, and who are registered in the shareholders’ register at the Securities Depository Center Company (Edaa) at the end of the second trading day following this eligibility date. Disbursement of the dividend will be on Thursday May, 11 2023.
6. Approve authorizing the board of directors to distribute interim (semi-annual or quarterly) dividends for the financial year 2023.
7. Approve the release of the members of the Board of Directors from liability for the financial year ended on 31 December 2022.