Chairman of the Board’s Message
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Mohammed Mishnan Suleiman Al-Dosari
Chairman of the Board
Agaseem Oils Company
Dear honorable shareholders of Agaseem Factory for Chemical and Plastic Industries,
Peace, mercy, and blessings of Allah be upon you,
Welcome to the Investor Relations website of (Agaseem Factory for Chemical and Plastic Industries), which includes the latest data and figures related to our company.
(Agaseem) is considered one of the largest factories producing lubricating oils for equipment and engines in the world, and is classified among the leading companies in producing lubricants for equipment and engines. Through innovation, learning, and striving for excellence in our operational processes, we partner with our customers in providing products and services according to the highest quality standards. Commitment to quality and innovation is the foundation of our work, and communication with shareholders and investors is at the forefront of our priorities, to achieve our motto: “Quality and Innovation.”
The company continues to support its operations and existing projects in line with the company’s strategy aligned with Saudi Vision 2030, and we, in turn, strive diligently to develop according to modern economic conditions and the goals set by the wise leadership under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and His Highness the Crown Prince Mohammed bin Salman bin Abdulaziz — may Allah protect them.
The Board of Directors has taken several strategic decisions to serve the company’s interests and to focus on achieving profitability. We look forward to positive results in the coming years, God willing. Based on the company’s accumulated expertise, it continues its journey through developing its products, with determination from the company’s management and employees, who have gained extensive skills and expertise in overcoming challenges and creating the best solutions. I am also pleased, on behalf of the Board of Directors, to extend my utmost thanks and appreciation to all shareholders of the company for their confidence in the Board, and to all employees of the company. We ask Allah, the Almighty and All-Wise, to grant success to us and to you.
Board of Directors Formation
Chairman of the Board
His Excellency
Mohammed Mishnan Suleiman Al-Dosari
His Excellency has extensive experience and a long professional career in business administration. He holds a Bachelor’s degree in Business Administration and Marketing.
Vice Chairman of the Board
His Excellency
Faisal Khatim Awad Al-Zahrani
His Excellency has extensive experience and a long professional career in business administration. He holds a Bachelor’s degree in Business Administration and Marketing.
Board Member
His Excellency
Anas Saleh Aba Al-Khail
His Excellency possesses extensive experience and a long career in business administration, holding a Master of Business Administration degree from Kansas, USA.
Board Member
His Excellency
Mohammed Abdul Aziz Al Faisal
His Excellency possesses extensive experience and a long career in business administration and accounting, and holds a Bachelor's degree in Mechanical Engineering.
Board Member
His Excellency
Hisham ibn Abd al-Rahman ibn Muqrin
His Excellency possesses extensive experience and a long career in business administration and accounting, holding a Master's degree in Accounting from Missouri State University, USA.
Company History and Transformation
- Establishment and Activities
- Agaseem Factory for Chemical and Plastic Materials Company was established as a branch of Awad Mohammed Banim & Sons Trading Co. Ltd. under Commercial Registration No. (1010264660) dated 24/03/1430H (corresponding to 21/03/2009G). The company’s activities, as stated in its commercial registration, include the production of lubricating oils for equipment and engines.
- On 25/08/1435H (corresponding to 23/08/2014G), both partners Mr. Mohammed Mishnan Suleiman Al-Shukri Al-Dosari and Mr. Faisal Khatim Awad Al-Khatim Al-Zahrani purchased the branch of Awad Mohammed Banim & Sons Trading Co. Ltd. under Commercial Registration No. (1010264660) dated 24/03/1430H (corresponding to 21/03/2009G) at a rate of (100%) from Awad Mohammed Banim & Sons Trading Co. Ltd., equally owned by the two partners. The partners also decided to convert the branch into a limited liability company under the name “Agaseem Factory for Chemical and Plastic Materials Company” with a capital of three hundred thousand (300,000) Saudi Riyals divided into three hundred in-kind shares, each valued at one thousand (1,000) Saudi Riyals.
- On 02/04/1442H (corresponding to 17/11/2020G), the partners decided to increase the company’s capital from three hundred thousand (300,000) Saudi Riyals to twenty-five million (25,000,000) Saudi Riyals, divided into two million five hundred thousand (2,500,000) shares of equal value, each valued at ten (10) Saudi Riyals.
- On 24/12/1442H (corresponding to 09/04/2020G), both partners Mr. Mohammed bin Mishnan bin Suleiman Al-Dosari and Mr. Faisal bin Khatim bin Awad Al-Zahrani sold and assigned one million eight hundred forty-six thousand seven hundred thirty-two (1,846,732) shares, representing (73.87%) of the total company capital, in favor of new shareholders totaling sixty-two (62) new partners.
- Transformation into a Joint Stock Company
- The partners unanimously approved the transformation of the company from a limited liability company into a closed joint stock company with a capital of twenty-five million (25,000,000) Saudi Riyals divided into two million five hundred thousand (2,500,000) shares, each with a nominal value of ten (10) Saudi Riyals, all of which are ordinary shares.
- The company was registered in the Joint Stock Companies Register pursuant to Ministerial Resolution No. (119) dated 28/12/1442H (corresponding to 13/04/2020G), Ministerial Resolution No. (132) dated 01/12/1442H (corresponding to 16/12/2020G), and Commercial Registration No. (1010264660) dated 24/03/1430H (corresponding to 21/03/2009G), issued in Riyadh.
- On 24/10/1443H (corresponding to 25/05/2022G), the company registered its shares for direct listing on the Parallel Market (“Nomu”), with trading restricted to qualified investors in accordance with the Rules on the Offer of Securities and Continuing Obligations.
- On 18/06/1445H (corresponding to 31/12/2023G), the company acquired Agaseem Arabia Lubricants Manufacturing L.L.C., Commercial Registration No. 201810798, with an investment value of twelve million (12,000,000) UAE Dirhams. The factory’s activities include wholesale trading of petroleum refining derivatives, manufacturing of lubricating oils, manufacturing of greases, land transportation of petroleum materials, and import and export activities.
- On 14/06/1446H (corresponding to 15/12/2024G), the Extraordinary General Assembly approved the Board of Directors’ recommendation to split the company’s shares. The nominal value per share was changed from ten (10) Saudi Riyals to one (1) Saudi Riyal, and the number of shares increased from 2,500,000 shares to 25,000,000 shares, with no change to the company’s capital following the change in nominal value.
- On 15/07/1446H (corresponding to 15/01/2025G), the Capital Market Authority (“CMA”) announced the issuance of a Board resolution approving the application submitted by Agaseem Factory for Chemical and Plastic Materials Company to register and publicly offer debt instruments under an issuance program with a value not exceeding five hundred million (500,000,000) Saudi Riyals. The prospectus will be published sufficiently prior to the subscription start date and will include the information and data required by investors before making an investment decision, including the issuer’s financial statements, comprehensive information about its activities and management, and details of the referenced issuance program.