GASCO GA approves BOD delegation to distribute interim dividends for 2023, disapproves appointment of auditor

National Gas and Industrialization Co. announced the Results of the Ordinary General Assembly Meeting, (Second Meeting) held on Monday, which included approval of authorizing the Board of Directors to distribute interim dividends for the fiscal year 2023 on bi-annually or quarterly

The results of voting on rest of the items are as follows:

–              The report of the Board of Directors for the fiscal year ended on December 31, 2022 was reviewed and discussed.

–              Approval of the company’s auditor’s report for the fiscal year ended on December 31, 2022.

–              The financial statements for the fiscal year ended on December 31, 2022 was reviewed and discussed.

–              Approval of releasing the members of the Board of Directors from liability for the fiscal year ended on December 31, 2022.

–              Approval of the disbursing an amount of SAR 3,505,211 as a remuneration for the members of the Board of Directors for the fiscal year ended on December 31, 2022.

–              Disapproval of appointing the company’s auditor from among the candidates based on the recommendation of the Audit Committee, to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2023, and the first quarter of the fiscal year 2024, and determine wage.

–              Approval of delegating to the Board of Directors, the General Assembly’s powers stipulated in paragraph (1) of Article (27) of the Companies Law, for a period of one year from the General Assembly’s approval, or until the end of the Board of Directors’ term whichever is earlier, in accordance with the terms stated in the Implementing Regulation of the Companies Law for Listed Joint Stock Companies.