Marafiq Board Proposes Transferring SAR 342 Million from Statutory Reserve to Retained Earnings on July 24th

The Board of Directors of Marafiq, the Power and Water Utility Company for Jubail and Yanbu, cordially invites shareholders to participate in the Company’s Extraordinary General Assembly meeting, scheduled for Wednesday, July 24th, 2024, at 7:30 pm.

Agenda:

1. Voting on amending Article Thirteen of the Company’s bylaws regarding Premium Shares.
2. Voting on amending Article Thirty-Nine of the Company’s bylaws regarding the Conditions of Appointment Auditor.
3. Voting on amending Article Forty-Four of the Company’s bylaws regarding the Distribution of Dividends.
4. Voting on amending Article Forty-Six of the Company’s bylaws regarding the Use of the Statutory Reserve.
5. Voting on amending the Dividends Policy.
6. Voting on the Transfer of the statutory reserve balance of SAR 342,001,587.32 from the financial statement for the year ended December 31, 2023, to the balance of retained earnings.
7. Voting on ratifying the resolution of the Board of Directors regarding the distribution of dividends for the second half of 2023, totaling SAR 275,000,000 at SAR 1.1 per share, representing 11% of the par value.

Remote voting will commence on Sunday, 15 Muharram, 1446, corresponding to July 21, 2024, at 01:00 am and will continue until the conclusion of the General Assembly Meeting.