•  

Saudi Electricity Company invites its shareholders to attend the ordinary General Assembly meeting (1st meeting)

back »
26/11/2018



Item

Statement

Preface

The Board of Directors of the Saudi Electricity Company (SEC) has the pleasure to invite shareholders to attend the 19th ordinary General Assembly meeting, which will be h eld at 6.30 pm on Tuesday, 11/4/1440 H corresponding to 18/12/2018 AD at the company's meeting hall in Nafl Neighborhood, Riyadh (Northern ring road between exits 5 and 6)

Venue and city of the General Assembly meeting

The company's meeting hall in Nafl Neighborhood, Riyadh (Northern round road between exits 5 and 6)

Link for meeting venue

https://goo.gl/maps/iaLfkXRBihk

General Assembly meeting date

 

11/04/1440 H corresponding to 18/12/2018

General Assembly meeting time

 

18:30

Eligible attendance

Shareholders registered in the Company's shareholders register at the Depository Center at the end of the trading session preceding the General Assembly meeting and according to the rules and regulations.

The quorum required for convening the Assembly

Attendance of shareholders representing at least half the capital.

The meeting agenda

First: Vote on the amendment of the Audit Committee charter.

Second: Vote on the amendment of the charter of the Nominations, Remuneration and Human Resources Committee.

Third: Vote on the amendment of the remuneration policy of the members of the Board of Directors and its committees and executive management.

Fourth: Vote on the amendment of the policy, standards and procedures of membership of the Board of Directors.

Fifth: Vote on the establishment of a power generation company as a subsidiary to the Saudi Electricity Company.

Sixth: vote on the business and contracts to be executed between the company and the Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF), and to authorize that to the Vice Chairman of the Board Dr. Najm Bin Abdullah Al-Zaid, as he is the Vice Chairman of MEDGULF Insurance Company. This item concerns the provision of health insurance service for the Saudi employees of the company and their family members with a value of SR (575) million per one insurance year. The contract covers one mandatory year and two optional years from 01/01/2019 within the ordinary course of business, and no preferential benefits were granted.

Seventh: vote on the business and contract to be executed between the company and the Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) and to authorize it to the Vice Chairman of the Board Dr. Najm Bin Abdullah Al-Zaid, as he is the Vice Chairman of MEDGULF Insurance Company. This is regarding the renewal of a contract to provide health insurance service for the non-Saudi employees of the company and their family members with approx.. value of SR (36) million per one insurance year. The contract covers one mandatory year and two optional years starting from 01/01/2019 within the ordinary course of business, and no preferential benefits were granted. The total value of transactions until the end of the third quarter of 2018 amounted to SR 28 million.

 

Delegation form

Download the delegation form

Electronic voting

Shareholders can vote on the items of the ordinary General Assembly through e-voting service. the e-voting is free of charge to all shareholders through the Tadawulaty website https://www.tadawulaty.com.sa, starting at 10 am on Friday, 07/04/1440 H corresponding to 14/12/2018 and until 4 pm on the day of the ordinary General Assembly meeting.

Additional information

Note that the right to register the attendance of the meeting expires at the time of the meeting convention, and the attendees’ right to vote on the meeting agenda to expires when the vote counting committee completes the counting of votes.

The right to attend is guaranteed for each shareholder registered in the Company's register with the Securities Depository Center (Depository Center) at the end of the trading session preceding the General Assembly meeting and according to the rules and regulations.

He may delegate another person who is not a member of the Board of Directors or an employee of the company, provided that the power of attorney is certified from the Chambers of Commerce and Industry (if the shareholder is affiliated with one of them or if the shareholder is a company or a legal entity, a licensed banks or authorized persons in the Kingdom provided that the delegating person has an account with the attesting bank or the authorized person, public notary, or persons authorized for attesting. A copy of the power of attorney should be send to the company accompanied by a copy of the national identity card or the commercial register via e-mail: JAZahrani@se.com.sa, two days at least before the date of the meeting. the original power of attorney must be presented on the day of the General Assembly meeting.

Each shareholder is kindly requested to bring the national identity card and to be present before the meeting to complete the registration procedures.

For inquiries contact the following phones:

0118077881

0118078012

Or email: JAZahrani@se.com.sa