GASCO Empowers Board to Distribute Interim Dividends Semi-Annually or Quarterly for 2024

The Board of Directors of the National Gas and Industrialization Company announced on Monday the results of the Extraordinary General Assembly Meeting (second meeting), included the approval of authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2024.

Voting Results:

1. The Board of Directors’ report for the financial year ending on December 31, 2023 was reviewed and discussed.

2. Approval of the company’s auditor’s report for the financial year ending on December 31, 2023. After discussing it.

3. The financial statements for the fiscal year ending on December 31, 2023 were reviewed and discussed

4. Approval to discharge the members of the Board of Directors from their liabilities for the fiscal year ending on December 31, 2023.

5. Approval of appointing an auditor for the company, Pwc for a fee amounting to (1,194,000 riyals) without tax, in order to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2024 AD, and the first quarter of the fiscal year 2025 AD, from Among the candidates based on the recommendation of the Audit Committee.

6. Approval of delegating the authority of the Ordinary General Assembly to the Board of Directors with the license contained in Paragraph (1) of Article Twenty-Seven of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the session of the delegated Board of Directors, whichever is earlier, in accordance with the conditions stated in the Executive Regulations. The corporate system for listed joint stock companies.7. Approval to disburse an amount of (3,633,000) riyals as a reward to members of the Board of Directors for the financial year ending on December 31, 2023 AD.

8. Approval of the Competition Business Standards Regulations.

9. Approval of amending the regulations of the Audit Committee.

10. Approval of amending the regulations of the Nominations and Remuneration Committee.

11. Approval of amending policies, standards and procedures for membership in the Board of Directors.

12. Approval of amending the company’s bylaws in accordance with the new companies’ bylaws, and rearranging the articles of the bylaws and numbering them to be consistent with the proposed amendments.