Yansab GA authorizes BOD to distribute interim dividends for 2025

Yanbu National Petrochemical Company (Yansab) announced the results of its 16th Ordinary General Assembly Meeting (first meeting). The items included approving the authorization of the Board of Directors to distribute interim dividends semi-annually or quarterly for the fiscal year ending December 31, 2025.

The remaining voting items on the Assembly’s agenda were as follows:

– The Board of Directors’ report for the fiscal year ending December 31, 2024, was reviewed and discussed.

– The financial statements for the fiscal year ending December 31, 2024, were reviewed and discussed.

– The report of the company’s auditors for the fiscal year ending December 31, 2024, was approved after discussion.

– The appointment of PricewaterhouseCoopers (PwC) as the company’s auditors was approved from among the candidates nominated by the Audit Committee, based on the Audit Committee’s recommendation. This is to examine, review, and audit the financial statements for the next four years, starting from the second quarter of 2025 through the first quarter of 2029, for a total fee of SAR 2.5 million, excluding value-added tax.

– Approval to discharge the members of the Board of Directors from liability for the fiscal year ending December 31, 2024.