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02/08/2015 12:15 AST
Arabian Aramco Total Services Company (the Company) announces the results of the Certificateholders Special Meeting, which was held at three oclock (3:00 pm) on Thursday, 14/10/1436H (corresponding to 30/7/2015G) at the offices of Certificateholders Agent. (HSBC Saudi Arabia Limited, Olaya Road, AlMurooj District, P.O Box 7267, Riyadh 12283-2255) after satisfying the quorum by the attendance of a percentage of 69.4%. The results of the vote on the meetings agendas were as the following:
The approval has been granted for Saudi Aramco Total Refining and Petrochemical Company (SATORP), the major owner of Arabian Aramco Total Services Company, to waive the following:
1.That SATORP, the company controlling the Company and the beneficiary of the Companys issued Sukuk earnings, will establish a special entity to engage in social responsibility (the Entity) as a subsidiary of SATORP for the purposes of implementing a program aiming at assisting small and medium size enterprises.
2.That SATORP will allocate and pay to the Entity an amount up to, but not exceeding, ten million (10,000,000) US dollars per annum for a period of ten (10) years, and in addition provide administrative assistance as the Entity may require.
3.That the Entity is to be exempted from the provisions of the Finance Documents that apply to SATORP subsidiaries.
To take the resolution into effect, HSBC Saudi Arabia Limited (the Certificateholders Agent) is directed to procure the following:
1.That the Company, as Sukuk participant, executes a certificate informing the Intercreditor Agent of this resolution (the Resolution Certificate) and
2.That the Resolution Certificate is delivered to the Intercreditor Agent as soon as possible after the meeting is held.
Tadawul
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
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