The Annual General Assembly of the Persian Gulf Petrochemical Complementary Industries Investment and Development Group was held with the attendance of 78.21% of shareholders.
Important points raised in the assembly
This year, 222,344 billion Rials were injected into projects.
The company's ownership rights increased by 28%, assets by 30.42%, net profit by 134%, income by 300%, and operating profit by 302%.
We hope that the exchange rate of Ilam and Lordegan will be resolved in the next financial year, because their profits will be eaten due to the exchange rate.
A preliminary decision has been issued in Gachsaran Petrochemical and we are waiting for a final decision to be issued.
A general project company will be established for Sadaf Petrochemical and Arghwan Gostar Ilam.
In Ilam Petrochemical, production has increased by 13%, in Lordegan Petrochemical by 30%, and in Urmia Petrochemical by 7.8%.
Questions raised in the assembly
Please explain about capital increase and Lordegan's exchange rate? Lordegan increases the capital, and revaluation and currency exchange are being pursued.
Our demand from the lords is in foreign currency and the issue is to convert it into Riyal and legally convert it into an investment so that it can be used by the shareholders.
We have had several meetings with Lordegan and Ilam, and the foreign exchange distribution or transfer to Fars or by capital increase should be resolved. We will have a meeting next week and the efforts of the managers and workers will become a loss due to the accounting issue.
For the sale of lords, the assembly should be held with the permission of the stock exchange organization.
Why have you allocated only 7 tomans out of 36 tomans in the sale of oysters? Investment companies are limited in the sale of assets, and when assets are sold, they must be converted into charity and only give 20% to the shareholder.
Explain about the initial supply of Ilam? Ilam has been subject to article 141 for the accumulated losses and has a capital increase plan to get out of the losses. In Ilam, we have 58% of the shares and we must have 2 votes of the assembly to increase the capital. Tapiko places someone in Ilam who is not a decision maker. We wrote to Tapiko and the pension fund, but they did not respond in writing. It is not legal. In fact, the decision-making structure in Tapico is complicated, and the fund has not had a representative on the board of directors for 6 months.
What is the debt of Gachsaran to Fars? Until the court makes a decision (the case has been pending for 5 years) and the next stage of capital increase is not completed, the foreign currency claims will not be converted into Rials.
Has Shellard adjusted? Yes, there has been a positive adjustment and based on the court case that 6 Ureasaz were persistent about the gas price that the trade union announced was 7 Tomans, but we applied 5 Tomans and when the result of the follow-up came, it was less than 5 Tomans applied and it got better and about 250 billion Toman benefited us.
Approved interest and its payment time
A dividend of 100 Rials per share was approved.
In fact, 3 Tomans of net profit and 7 Tomans of retained earnings were considered investments.
The dividend of real shareholders will be paid on December 16, and if it is possible, it will be paid earlier.
It was stated in the meeting that if it is possible to increase the capital from the reserve, we will follow up.
Assembly approvals
The Institute of Probationers was selected and approved as the statutory auditor and the Institute of Arya Nagar as the substitute auditor.
The right to attend non-commissioned members of the board of directors was approved in the amount of 10 million Tomans.
The right to attend the committees was approved in the amount of 10 million tomans.
Information newspaper was approved as a widely circulated newspaper with advertisements.
Social responsibility was approved in the amount of 6 billion tomans.
The bonus of the board of directors was approved in the amount of one billion tomans.