General Assembly of Mesaieed Endorses Agenda Items and Approves Distribution of 8% Cash Dividend

March 13, 2019

Mesaieed Petrochemical Holding Co. (MPHC) announced the results of its Ordinary and Extraordinary General Assembly meetings that were held Tuesday, 12 March 2019.

Ordinary General Assembly meeting:

1.      The Assembly heard the Chairman’s keynote on the financial year ended 31 December 2018.

2.      Viewed and approved the Board of Directors’ report on MPHC’s operations and financial performance for the financial year ended 31 December 2018, and the future plans of the company.

3.      Viewed and approved the Auditors’ report on MPHC’s consolidated financial statements for the financial year ended 31 December 2018.

4.      Approved MPHC’s financial statements for the financial year ended 31 December 2018.

5.      Approved the 2018 Corporate Governance Report.

6.      Approved the Board’s recommendation for a dividend payment of QR0.8 per share, representing 8% of the nominal share value.

7.      Absolved the Board of Directors from liability for the year 2018 and approved their remuneration.

8.      Appointed the external auditors for the financial year ending 31 December 2019, and approved their fees.

Extraordinary General Assembly meeting:

Approved the proposed amendments to the company’s Article of Association.