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Saudi Basic Industries Corporation (SABIC) invites its Shareholders to attend the Ordinary General Meeting (First Meeting)

17/03/2019

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Type of meeting of the General AssemblyOrdinary
Number of Invitation to the General AssemblyFirst Invitation
Announcement TitleSaudi Basic Industries Corporation (SABIC) invites its Shareholders to attend the Ordinary General Meeting (First Meeting)
IntroductionThe Board of Directors of SABIC is pleased to invite the Company’s Shareholders to attend the Ordinary General Meeting (First Meeting)
Place and city of the General AssemblySABIC HQ, Riyadh
Hyperlink of the meeting locationhttps://goo.gl/maps/kfU24txTts82
Date of the General AssemblyTuesday Evening, 09/04/2019 Corresponding to 04/08/1440 H
Time of the General Assembly6:30 PM
Shareholding Eligibility to attend General Assembly MeetingThe eligibility to attend the Ordinary General Meeting, will be for Shareholders registered in the Company share registry at the Depository Center as of the end of trading prior to the Ordinary General Meeting day, and as per the rules and regulations. Noting that the right to attend the Ordinary General Meeting ends before the beginning of the meeting, and the right to vote ends once the voting sorts has concluded.
The Quorum required for the AssemblyThe Ordinary General Meeting shall be valid only if attended by Shareholders representing at least half of the Share Capital. In case of non-completion of the Quorum at this meeting, the Ordinary General Meeting shall convene at the invitation of a second meeting to be held within the following (30) day. The second meeting shall be valid irrespective of the number of shares represented therein.
Agenda of the Assembly
  1. Voting on External Auditor’s Report for the fiscal year ended on 31/12/2018.
  2. Voting on the Financial Statements for the fiscal year ended on 31/12/2018. 
  3. Voting on the Board of Directors Report for the fiscal year ended on 31/12/2018.
  4. Voting on the appointment and determining the fees of an External Auditor for the Company from among the candidates nominated based on the recommendation of Audit Committee to review and audit financial statements of the second quarter, third quarter, fourth quarter and the annual of the fiscal year 2019. In addition to the first quarter of the fiscal year 2020. 
  5. Voting on the recommendation of the Board of Directors regarding the dividends distributed for the first half of 2018 (SAR 6,600,000,000) at SAR 2.20 per share, which represents 22% of the par value. (Attached
  6. Voting on the recommendation of the Board of Directors to distribute cash dividends to Shareholders for the second half of 2018 with total amount of (SAR 6,600,000,000) at SAR 2.20 per share, which represent 22% of the par value. Eligibility for the second half dividends of the year will be to the Shareholders owning shares on the due date (Ordinary General Meeting date), and those Shareholders registered in the Company’s share registry at the Depository Center at the end of the second trading day following the due date. The dividends will be distributed on 30/04/2019. 
  7. Voting on the discharge of the Board of Directors members for the fiscal year ended 31/12/2018. 
  8. Voting on disbursement of SAR (1,800,000) as remuneration to the Board members for the fiscal year ended as of 31/12/2018. 
  9. Voting on the election of the members of the Board of Directors (including Government representatives) for the next term, which begins on 10/04/2019 for a period of three years ending on 09/04/2022. (CVs are attached
  10. Voting on the formation of the Audit Committee for the new term which begins on 10/04/2019 for a period of three years ending on 09/04/2022 and on its role, responsibilities, processes and the remuneration of its members (CVs are attached). They are: 
    • Mr. Abdullah Mohammed Al Issa. 
    • Mr. Nader Ibrahim Alwehibi. 
    • Mr. Abdulaziz Habdan Al-Habdan. 
    • Dr. Khaled Dawood Al-Fadag. 
  11. Voting on authorizing the Board of Directors to distribute interim dividends, semi-annually or quarterly, for the fiscal year 2019, and determine the maturity and disbursement date as per the rules and regulations of the Companies Law, in line with the Company’s financial position, cash flows and expansion and investment plans.
Power of attorney formAttached
Electronic votingThe Shareholders may remotely vote on the General Assembly Meeting’s agenda via (E-voting service) through Tadawulaty website https://www.tadawulaty.com.sa. The remote voting will start at 10:00 AM, 6th April 2019, and will continue until 04:00 PM on the day of the Meeting. Please note that registration in Tadawulaty service and voting is provided free of charge for all Shareholders through the following link: (www.tadawulaty.com.sa).
Additional Information

The Shareholder may delegate another person on his/her behalf to attend the Ordinary General Meeting and vote on the proposed decisions by means of a proxy (as per the enclosed form), providing that the delegated shall not be a member of the Board or an employee of the Company, and n noting that the proxy shall be authenticated by one of the following entities: Chamber of Commerce and Industry, if the Shareholder is an affiliate of one of them, or if the Shareholder is a legal company or institution. One of the licensed banks, or the authorized individuals in the Kingdom of Saudi Arabia, providing that the company or institution shall hold an account with the bank, or the authorized individual to perform the validation. The notaries, or the individuals authorized to perform the acts of authentication. The Shareholder or his/her delegate shall provide the Company with a copy of the proxy at least two days prior the date of the meeting through Fax No. (011-2259766) or Email (IR@sabic.com). 

The Shareholders and delegated members are kindly requested to come well in advance before the beginning of the meeting to register for attendance, and must present their identity cards and the original proxy. 

The Company would like to draw the attention of non-resident foreign investors that the cash dividends transferred by the resident financial intermediary are subject to a deduction tax of 5% upon direct transfer to the non-resident investors account or credited to his/her local bank account in accordance with the regulations issued by General Authority of Zakat and Tax. For inquiries and further information, please contact Investor Relations Department at:

  1. Telephone No.: 011-2258000, Extension- 2 
  2. Email: IR@sabic.com

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