Al Jouf Cement Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )
| Element List | Explanation |
|---|---|
| Introduction | Al-Jouf Cement Company announces the results of the Ordinary General Assembly Meeting (First meeting) held at 18:30 on Monday 09/08/1445 Corresponding to 19/02/2024, after the completion of the quorum for the validity of the general assembly meeting according to the company's articles of association. |
| City and Location of the General Assembly's Meeting | Via means of modern technology at company head office, Riyadh |
| Date of the General Assembly's Meeting | 2024-02-19 Corresponding to 1445-08-09 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 37.5% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Attendees:
Eng. Abdullah bin Odeh Al-Ghabin – Chairman of the Board of Directors Eng. Ahmed Mohammed Al-Falih – Vice Chairman Mr. Saud bin Abdullah Al Bawardi - Member of the Board of Directors Mr. Abdul Aziz bin Abdul Ilah Kaki - Member of the Board of Directors Eng/ Abdullah bin Abdul Aziz Al-Zunaidi - Member of the Board of Directors Mr. Abdul Karim bin Mohammed Al Naheer - Managing Director and CEO Mr. Abdul Rahman bin Suleiman Al-Oudan - Member of the Board of Directors Absentees: There is no absence |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Attendees:
Eng. Abdullah bin Odeh Al-Ghabin – Chairman of the Executive Committee Eng. Ahmed bin Mohammed Al-Falih – Chairman of the Nomination and Remuneration Committee Mr. Suleiman bin Abdulaziz Al-Zaben - Chairman of the Audit Committee
Absentees: There is no absence. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | First - Approval of filing a liability lawsuit against the former Chairman of the Board of Directors in relation to the fine issued by the Competition Authority in 2018 amounting to ten million riyals
(10,000,000 riyals). second- Approval of filing a liability lawsuit against three former members of the Board of Directors who have direct and indirect executive powers through subsidiaries in relation to the loss of the entire investment in Eastern Industrial Company amounting to SAR 136 million according to the reasons mentioned in the following Board of Directors' recommendation: 1. Loss of the entire investment amounting to one hundred and thirty-six million riyals (136,000,000 riyals). 2. The existence of transactions with related parties for which the approval of the company's general assembly has not been obtained. 3. Suspicion of forging the signature of the former Vice Chairman of the Council approving the investment in the project. 4. Investing the company's funds in violation of the articles of association for purposes other than those allocated to the company. 5. Provide misleading information about investment in the project. 6. The responsible members violate the powers of the company's articles of association. 7. The responsible members did not refund the development expenses of the project amounting to six million riyals. (6,000,000 SAR). 8. Misleading shareholders by not announcing losses in the financial statements in a timely manner.
Third - Approval of Authorizing the Board of Directors to carry out the regulatory procedures to file liability claims and to appoint whomever it deems appropriate to represent the company before the competent courts in the event of approval of the first and second clauses.
fourth - Approval of the Social Responsibility Regulations. |
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