Published: Sep 16, 2014
Source: Tadawul

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Advanced Petrochemical Company announces the results of 8th ordinary general assembly meeting

The 8th Ordinary General Assembly Meeting of Advanced Petrochemical Company (Advanced) was held in Dammam at Advanced's Head Office (Gulf Road Dammam Corniche - SAMEC Building fifth floor) on September 15, 2014 corresponding to 20-11-1435 at 6:00 P.M and the shareholders approved all the items on the agenda as follows:

1. The issuance of Sukuk in compliance with Shariah principles, whether in part or several parts through the issuance of one or a series of issuance from time to time, with the amounts and terms set by the Company as per the Board of Directors approval without referring to the General Assembly of shareholders on this matter, and with a condition that the total amount of the sukuk shall not exceed the share capital of the Company.

2. Authorize the Board of Directors to take all necessary measures to issue such bonds, once the necessary approvals from the relevant authorities have been received. The Board may delegate any or all of its authorization, as per the resolution stated above, to any person or persons who may then also delegate this authorization.                  

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