Saudi Aramco Base Oil Company - Luberef announces the results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Aramco Base Oil Company - Luberef is pleased to announce the results of the Extraordinary General Assembly Meeting (First Meeting) |
| City and Location of the General Assembly's Meeting | Company’s Admin Building - Jeddah city -via modern technology |
| Date of the General Assembly's Meeting | 2025-04-16 Corresponding to 1446-10-18 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 78.98% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board Members Attended the Extraordinary General Assembly Meeting:
1. Eng. Ibrahim Q. Al Buainain (Chairperson) 2. Eng. Abdulatif S. Al Shami (Vice Chairperson) 3. Dr. Khalid D. Al Faddagh (Independent Director) 4. Eng. Nabelah M. Al Tunisi (Independent Director) 5. Mr. Mohammed F. Al Ahmari (Non-executive Director) 6. Eng. Andrew S. Katz (Non-executive Director) |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following Committees’ Chairpersons Attended the Extraordinary General Assembly Meeting:
1. Dr. Khalid D. Al Faddagh (Chairman of Board Audit Committee) 2. Eng. Nabelah M. Al Tunisi (Chairperson of Remuneration and Nomination Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Company’s Annual Board Report for the financial year ended on 31 December 2024G was viewed and discussed.
2. The Company’s Financial Statements for the financial year ended on 31 December 2024G was viewed and discussed. 3. Approved the External Auditor’s Report for the financial year ended on 31 December 2024G after discussion. 4. Approved the Board’s recommendation to distribute cash dividend for the second half of 2024G with a total amount of SAR (518,225,554), and representing SAR (3.08) per share representing (30.8%) of the nominal value of the share. The eligibility shall be for the shareholders who own the shares at the close of the market on the day of the AGM, and who are registered in the shareholders’ register at the Securities Depository Center Company (Edaa) at the end of the second trading day following this eligibility date. Disbursement of the dividend shall be on Wednesday 30 April 2025G. 5. Approved and authorized the Board to distribute interim (semi-annual or quarterly) dividends for the financial year 2025G. 6. Approved paying SAR 3,600,000 as remuneration for the Board for the fiscal year ended on 31 December 2024G. 7. Approved the exoneration of the Board from liability for the financial year ended on 31 December 2024G. 8. Approved the transfer of the Statutory Reserve amount of SAR 506,250,000 to the Retained Earnings account. |
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