Arabian Pipes Schedules Board Election for May 14

The Board of Directors of Arabian Pipes Company has called upon its shareholders to participate and vote in the thirty-fourth Ordinary General Assembly meeting via modern technology using the Tadawulaty system. The meeting agenda includes the election of Board of Directors members for the upcoming term starting on May 22, 2024, and ending on May 21, 2027, spanning three years.

Additional agenda items for the assembly are:

1. Review and discussion of the financial statements for the fiscal year ending December 31, 2023.

2. Examination of the Board of Directors’ report for the fiscal year ending December 31, 2023.

3. Voting on the auditor’s report concerning the company’s accounts for the fiscal year ending December 31, 2023.

4. Election of the company’s auditor from the nominees recommended by the Audit Committee to review and audit financial statements for the second and third quarters of 2024 and the annual statements for 2024, along with the first quarter of 2025, including the determination of his fees.

5. Proposal to pay SAR 1,050,000 as remuneration to the Board members for the year ending December 31, 2023.

6. Voting on the Social Responsibility Policy.

7. Decision on the standards and competition controls.

8. Approval for the Board of Directors to distribute interim cash dividends semi-annually or quarterly for the fiscal year 2024.

9. Discussion on allowing the Vice Chairman, Mr. Khaled Abdullah Abu Nayan, to engage in business activities that compete with the company.