SABIC GA votes on transferring statutory reserve of SAR 15 billion to retained earning account on June 22nd

The Board of Directors of Saudi Basic Industries Corporation (SABIC) invited the Company’s shareholders to attend and vote at its Extraordinary General Meeting (First Meeting) which will be held on June 22nd, 2023. Whereas the items included voting on transferring the Statutory Reserve amount of SAR 15 billion – as stated in the financial statements for the year ended on Dec. 31st,2022 – to the Retained Earnings account.

The GA also will discuss ratification of dividend distributed for the H2-2022 at SAR 6 billion; and the total dividend for the year ended on Dec. 31st,2022 at SAR 12,75 billion, at SAR 4.25 per share representing (42.5%) of the nominal value per share

The eligibility to attend the Meeting, will be for shareholders registered in the Company share registry at the Depository Center as of the end of trading prior to the Meeting Day, and as per the rules and regulations.

The Extraordinary General Meeting shall be valid only if attended by shareholders representing at least half of the Share Capital.

The shareholder has the right to discuss the topics listed on the assembly’s agenda, ask questions, and how to exercise the right to vote (with details of the electronic voting feature, if any). 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 Sunday 18.06.2023 at (01:00) AM, and the voting will end once the Extraordinary General Meeting ends. Please note that registration in Tadawulaty service and voting is provided free of charge.

The right to attend the Meeting ends at the beginning of the meeting, and the right to vote ends once the voting sorts has concluded.