Jam Petrochemical's annual ordinary general meeting of shareholders held with record attendance

Dr Amir Akbari, chief executive of Jam Petrochemical, presented a report to the annual ordinary general meeting of shareholders on the company's performance over the year and its achievements in 1404.

According to Jam Petrochemical's public and international relations office, the annual ordinary general meeting of shareholders for the financial year ended 29/12/1404 was held at 10:30 on the morning of Sunday 21 Tir 1405 in the Rasoul-e Akram hall of the Rayzan International Conference Centre, with 80.8 percent of shareholders present.

The meeting opened with the recitation of verses from the Holy Quran, and once the attendance of the great majority of shareholders had been announced, the meeting was declared quorate.

After the officers of the meeting had taken their places, Dr Amir Akbari, chief executive of Jam Petrochemical, as secretary of the meeting presented a report on the board's work in the financial year ended 29 Esfand 1404, noting that the company's current growth in profitability is the result of several programmes carried out at once — reducing costs, adjusting the feedstock mix, increasing production and shifting to new export markets — through the capable hands of Jam Petrochemical's experienced managers and specialists.

He remarked that 1404 had been for Jam Petrochemical a year of record-breaking, of resilience in the face of war and of continued production despite the enemy's attacks.

The representative of the Audit Organisation then presented its report and read out its paragraphs before the majority of shareholders.

Agenda

• Hearing the report of the board of directors and the statutory auditor
• Approval of the financial statements for the financial year ended 29/12/1404
• Appointment of the auditor and statutory inspector
• Selection of the newspaper of record
• Distribution of profit to shareholders
• Ratification of the transactions referred to in article 129 of the amended Commercial Code
• And other matters on which the annual ordinary general meeting is competent to decide

Every item on the agenda was discussed and examined one by one at Jam Petrochemical's annual ordinary general meeting and approved by a majority vote of shareholders.

At the close of the meeting, the proposal to pay a cash dividend of 4,166 rials per share was also agreed by the members and shareholders.