Alujain says NATPET’s board directed to provide shareholders with financials, SAR 1/share dividend approved

Alujain Holding Corp said in a bourse statement that National Petrochemical Industrial Co. (NATPET) held a general meeting on Monday, June 8.

Shareholders approved directing the board of directors to provide shareholders with NATPET’s financial statements for the fiscal year 2019 and Q1 2020 within the regulatory period, to enable Alujain disclose its financial statements.

They also approved a cash dividend of SAR 1 per share, at 10% of paid-in capital, totaling SAR 107 million for FY19. Shareholders of record on the general meeting date are eligible for this dividend.

Moreover, a new board of directors for NATPET was elected for the next three-year term starting from June 1, 2020. Alujain representatives had three seats, the General Organization for Social Insurance (GOSI) won four seats, while the remaining seats were held by other shareholders.

The term of NATPET’s former board of directors expired on May 31, 2020.

Alujain is coordinating with NATPET to get its FY19 and Q1 2020 financial results, so as to disclose its annual and first quarter financial statements as soon as possible, the statement added.