Umm Al-Qura Cement Co. Announces Appointment of a CEO

Umm Al-Qura Cement Co. Announces Appointment of a CEO

Aug 24, 2021

ELEMENT LIST EXPLANATION
Introduction Umm Al-Qura Cement Company announces the appointment of Mr. Majid Tariq Salah Gharbawi as the CEO of the company as of 20 October, 2021AD corresponding to Rabi` Al-Awal 14, 1443 AH.
ELEMENT LIST EXPLANATION
Appointment Type Appointment
Name of the CEO Mr. Magid Tarik Salah Gharbawi
Date of Board Resolution 2021-08-24 Corresponding to 1443-01-16
Date Work Commencement 2021-10-20 Corresponding to 1443-03-14
Brief Resume Mr. Majid Tariq Gharbawy has more than 17 years of experience in the financial and banking sector, and included in his professional career many administrative and leadership positions for amany of banks and the private sector, and he has great experience in the field of entrepreneurship, corporate finance in various sectors, risk management and finance joint government initiatives. 

 

It is worth noting that Majed Gharbawi holds a Bachelor of Science in Business Administration – Majoring in Financial Management from the University of Southern California, in addition to many specialized certificates from inside and outside the Kingdom.
Umm Al-Qura Cement Co. Announces Appointment of a CEO

Umm Al-Qura Cement Company’s announcement regarding the appointment of the Chairman of the Audit Committee

Aug 1, 2021

 

ELEMENT LIST EXPLANATION
Announcement Detail Referring to the announcement of the results of the Ordinary General Assembly meeting held on Ramadan 17, 1442 AH corresponding to April 29, 2021 AD, and what was included in the item no 10 Approval of the forming the Audit Committee, defining its duties, operating controls, and remuneration for its members, for the new session that starts on 04/07/2021 AD and for a period of three years, noting that the members are:

 

1- Mr. Fawaz Hamad Fawaz Al-Fawaz (Member from Outside the Board)

2- Mr. Saud Muhammad Ali Al-Sabhan (membership – independent)

3- Mr. Yousef Muhammad Ali Al-Suhaibani (Member from Outside the Board)”

 

The company would like to inform the shareholders that the Audit Committee agreed, in its meeting held on 28/07/2021 AD, to appoint Mr. Yousef Muhammad Ali Al-Suhaibani as Chairman of the Committee.
Umm Al-Qura Cement Co. Announces Appointment of a CEO

Umm Al-Qura Cement Co. Announces Resignation of a CEO

Aug 1, 2021

 

ELEMENT LIST EXPLANATION
Introduction Umm Al-Qura Cement Company announces the decision of the company’s board of directors, in its meeting held on 19/12/1442 AH corresponding to 29/07/2021 AD, to accept the resignation of Eng. Fawaz bin Saleh Al-Mutairi from his position as CEO of the company, provided that the resignation will take effect as of 01/09/2021 AD. His last working day in this position 31/08/2021 

The Board of Directors is pleased to extend its sincere thanks to Eng. Fawaz bin Saleh Al-Mutairi for the efforts made in managing the company through his position as CEO. The Board of Directors commends the effective role of Eng. Fawaz bin Saleh Al-Mutairi in managing the company during the previous period, during which he provided all support to all The company’s employees and its board of directors to maintain the good position of the company and to achieve outstanding positive results, wishing him the best in the coming days on both the professional and personal levels
ELEMENT LIST EXPLANATION
Name of the Resigned CEO Fawaz bin Saleh Al-Mutairi
Resignation Acceptance Date 2021-07-29 Corresponding to 1442-12-19
Resignation Effective Date 2021-09-01 Corresponding to 1443-01-24
Reasons for Resignation personnal causes
Umm Al-Qura Cement Co. Announces Appointment of a CEO

Umm Al-Qura Cement Co. announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

Aug 1, 2021

ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 63,895,004 62,560,163 2.133 90,406,292 -29.324
Gross Profit (Loss) 27,949,106 30,420,507 -8.124 40,859,774 -31.597
Operational Profit (Loss) 24,446,338 27,530,315 -11.202 37,821,384 -35.363
Net Profit (Loss) after Zakat and Tax 18,414,374 20,974,547 -12.206 31,036,952 -40.669
Total Comprehensive Income 18,283,033 20,526,634 -10.93 31,036,952 -41.092
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Sales/Revenue 154,301,296 159,011,611 -2.962
Gross Profit (Loss) 68,808,880 78,556,372 -12.408
Operational Profit (Loss) 62,267,722 72,526,971 -14.145
Net Profit (Loss) after Zakat and Tax 49,451,326 59,488,346 -16.872
Total Comprehensive Income 49,319,985 59,040,433 -16.464
Total Share Holders Equity (after Deducting Minority Equity) 747,709,459 678,818,309 10.148
Profit (Loss) per Share 0.9 1.08
All figures are in (Actual) Saudi Arabia, Riyals
ACCUMULATED LOSSES CAPITAL PERCENTAGE %
0 550,000,000 0
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST EXPLANATION
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for the decrease in net profit during the current quarter of 2021 AD compared with the same quarter of the previous year is due to the increase in the cost of sales and the increase in selling and marketing expenses, general and administrative expenses and Zakat expense for the current quarter compared to In the same quarter of the previous year, despite the decrease in financing costs during the current quarter compared to the same quarter of the previous year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The main reason for the decrease in net profit for the current quarter compared to the previous quarter is due to the decrease in the amount and value of sales for the current quarter compared to the previous quarter, as well as the increase in selling and marketing expenses and the increase in general and administrative expenses despite the decrease in financing costs during the current quarter compared to the previous quarter.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The main reason for the decrease in net profit for the current period compared to the same period of the previous year is due to:

Decreased sales value for the current period compared to the same period of the previous year.

– Increase in selling and marketing expenses, general and administrative expenses and zakat expense for the current period compared to the same period of the previous year and a decrease in other revenues for the current period compared to the same period of the previous year, despite the decrease in financing costs for the current period compared to the same period of the previous year
Statement of the type of external auditor’s report Unmodified conclusion
Reclassification of Comparison Items N/A
Umm Al-Qura Cement Co. Announces Appointment of a CEO

Umm Al-Qura Cement Co. announces the distribution of cash dividend for the first half of the financial year 2021

Aug 1, 2021

 

ELEMENT LIST EXPLANATION
Introduction The Board of Directors of Umm Al-Qura Cement Company decided to distribute cash dividends to the company’s shareholders for the first half of the financial year 2021 as follows:
Date of the board’s decision 2021-07-29 Corresponding to 1442-12-19
The Total amount distributed 27500000
Number of Shares Eligible for Dividends 55000000
Dividend per share SAR 0.50 per Share
Percentage of Dividend to the Share Par Value (%) 5 %
Eligibility date The eligibility for profits is for the shareholders of the company who owns shares at the end of trading on Sunday 15/08/2021 – 07/01/1443 AH and who are registered in the company’s shareholders register at the Edaa Center at the end of the second trading day following the due date.
Distribution Date Distribution date will be Sunday 29/08/2021
Additional Information The company calls upon its Shareholders to quickly update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividend is deposited in their accounts with the banks on the distribution day. 

We would like to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing regulation.