| LEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of Umm Al-Qura Cement Co. is pleased to announce the results of the company’s Ordinary General Assembly meeting ( Second Meeting ), which was held at 8:00 pm on Tuesday 9 Shawwal 1443 AH corresponding to 10 May 2022 AD, in Riyadh at the company’s headquarters through modern technology, and due to the lack of a quorum at the first meeting, the second meeting was held one hour after the scheduled time for the first meeting with the shares represented in the meeting, as the attendance rate reached 21.99 % of the shares representing the capital., the results of the voting came as follows: |
| City and Location of the General Assembly’s Meeting | By means of modern technology from the company’s headquarters in Riyadh |
| Date of the General Assembly’s Meeting | 2022-05-10 Corresponding to 1443-10-09 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 21.99% |
| Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees | 1- Mr. Abdullah Abdul Aziz Al Abdul Latif (Chairman of the Board of Directors) .
2- Mr. Saud Mohammad Alsabhan (Vice Chairman of the Board of Directors) . 3- Mr. Salih Ibrahim Alkholaifi . 4- Mr. Ahmed Abdulaziz Saleh Alhagbani . 5- Mr. Abdulrahman Sulaiman Ibrahim Alsayyari . 6- Mr. Abdullah Hamdan Al Sourayia . |
| Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on Their Behalf | Mr. Yousef Mohammad Alsohibani ( Chairman of the Audit Committee).
Mr. Saud Mahamed Al-Sabhan (Chairman of the Nomination and Remuneration Committee). |
| Voting Results on the Items of the General Assembly’s Meeting Agenda’s | 1- Approve the Board of Directors report for the fiscal year ending on 31/12/2021.
2- Approve the financial statements for the fiscal year ending on 31/12/2021.
3- Approve the company’s auditor’s report for the fiscal year ending on 12/31/2021.
4- Approve discharge the members of the Board of Directors from liability for the fiscal year ending on 31/12/2021.
5- Approve the appointment of Messrs ( Allied Accountants Professional Services Company (RSM)) as an auditor of the company’s accounts from among the candidates based on the audit committee’s recommendation to examine, review and audit the financial statements for the second, third, and fourth quarter and the annual of the fiscal year 2022AD and the first quarter of the fiscal year 2023AD, and determine their fees.
6- Approve the updating of the remuneration policy for the members of the Board of Directors and the committees emanating from the Board and the Executive Management.
7- Approve the Board of Directors recommendation to distribute an amount of (13,750,000) as cash dividends to the shareholders for the second half of the fiscal year ending on 31/12/2021 at a rate of (0.25) riyals per share. provided that the eligibility for profits is for the company’s shareholders who own the shares on the due date who are registered in the company’s shareholder register At the Securities Depository Center (Edaa) at the end of the second trading day following the day of the meeting,Dividends disbursement will start on 24 Shawwal,1443AH (25 May, 2022AD).
8- Approve authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis to shareholders for the fiscal year 2022, and to determine the maturity and distribution date, in accordance with the organizational procedures and controls issued in implementation of the companies law, in line with the company’s financial position, cash flows, and it’s expansion and investment plans |
| Additional Information | The company also clarifies that the second half of 2021 dividends distribution will be disbursed by Riyad Bank by direct transfer to the bank accounts linked to the investment portfolios of the shareholders.
In case of any inquiries, please contact the Investor Relations Department through the following contact details: • Phone: +966 (11) 4874477 Ext: 117 • Email: ir@localhost |
Umm Al-Qura Cement Co. Announces the Results of the Ordinary General Assembly Meeting, ( Second Meeting )
