Mesaieed General Assembly Approves Agenda and Distribution of 7% Cash Dividend

March 7, 2018

Mesaieed Petrochemical Holding Company (MPHC) announced the results of its Ordinary and Extraordinary General Assembly meeting held on Tuesday 6 March 2018. The agenda was approved as follows:

Agenda of the Ordinary Assembly:

1.      To hear the opening word of the Chairman of the Board of Directors for the financial year ended 31 December 2017.

2.      To hear and ratify the report of the Board of Directors on the company's activity and financial performance for the fiscal year ended 31 December 2017, and the company’s future plans.

3.      To hear and approve the report of the auditor on the company's consolidated financial statements for the financial year ended 31 December 2017.

4.      To Discuss and approve the company's consolidated financial statements for the year ended 31 December 2017.

5.      To present and approve the Corporate Governance report for 2017.

6.      To approve the Board of Directors' recommendation regarding the distribution of cash dividends for the year 2017 of QR 0.7 per share, representing 7% of the nominal share value.

7.      To relieve the members of the Board of Directors from liability for the fiscal year ended 31 December 2017, and determine their remuneration.

8.      To appoint the new auditors for the financial year ended 31 December 2018, and determine their fees.

Agenda of the Extraordinary Assembly:

The proposed amendments to the company's Articles of Association have been approved.