Sunday, 4 June 2023

June 18.. “Gas” GA to discuss BOD recommendation to ‎distribute SR2.5 mln cash dividends for 2022‎

The Board of Directors of the Natural Gas Distribution Company (Gaz) called on shareholders to participate and vote in the Ordinary General Assembly meeting, the first meeting scheduled to be held on June 18, where the items included voting on the Board of Directors’ recommendation to distribute cash dividends to shareholders for the year 2022, amounting to 2.5 million riyals at the rate of (0.50) riyals per share, at a rate of (5%) of the company’s capital, amounting to 50 million riyals. Provided that the eligibility shall be for the shareholders who own the shares at the end of trading on the day of the General Assembly meeting and who are registered in the company’s shareholder register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date, provided that the date of dividend distribution will be announced later. ,

The remaining items on the assembly’s agenda are as follows:

– View and discuss the report of the Board of Directors for the fiscal year ending on 31-December-2022.

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– Voting on the company’s auditor’s report for the fiscal year ending on December 31-2022 AD.

– Reviewing and discussing the financial statements for the fiscal year ending on December 31-2022.

– Voting to pay an amount of (172,500) Saudi riyals as a reward for the members of the Board of Directors for the fiscal year ending on December 31, 2022.

Voting to absolve the members of the Board of Directors from liability for the fiscal year 2022

– To vote on the appointment of the auditor of the company from among the candidates based on the recommendation of the Audit Committee; this is to examine, review and audit the semi-annual and annual financial statements from the fiscal year 2023 AD, and determine his fees.

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