Mubasher TV
Contact Us Advertising   العربية

Riyadh Cement Co. Announces the Results of the Ordinary General Assembly Meeting, ( First Meeting )

RIYADH CEMENT 3092 -2.53% 28.85 -0.75
Element List Explanation
City and Location of the General Assembly's Meeting Head Office Imamm Soud Bin Abdulaziz Bin Mohammed, AL-Muhammdyah - Riyadh
Date of the General Assembly's Meeting 2021-04-21 Corresponding to 1442-09-09
Time of the General Assembly's Meeting 22:00
Percentage of Attending Shareholders 57.8
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The following Board members attended the meeting:

1- Mr. Salah Rashed Alrashed (Chairman)

2 - Eng. Khalid Abdullah Almulhem

3 - Dr. Naser Fadel Aqeel

4- Mr. Fahd Hizam Alnabit

5- Eng. Shoiel Jar Allah Alaied

6- Mr. Khalifa Abdul Allatif Almulhem

7 - Mr. Abdul Almohsen Rahed Alrashed

Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf The following Committees’ Chairmen attended the meeting:

1- Eng. Khalid Abdullah Almulhem (Chairman of Audit Committee)

2 - Mr. Fahd Hizam Alnamit (Chairman of Remuneration and Nomination Committee)

Voting Results on the Items of the General Assembly's Meeting Agenda's 1 Approve the report of the board of directors for the fiscal year ended on 31-12-2020.

2 Approve on the company's auditor's report for the fiscal year ended on 31-12-2020.

3 Approve on the company's financial statements for the fiscal year ended on 31-12-2020.

4 Approve on absolving the Board members from liabilities for their activities pertain to management of the Company for the FY ending on 31 December 2020.

5 Approve to appointment the company's auditor from among the candidates, based on the recommendation of the audit committee, to examine, review and audit the financial statements for the first, second, third quarters and annual of the fiscal year 2021 and identify their fees.

6 Approve on authorizing the Board of Directors to disburse interim dividends on a semiannual/ quarterly basis for the FY 2021.

7 Approve on the Board of Directors recommendation to disburse dividends to shareholders for the second half of 2020, in the amount of (SAR 1) per share, with a total amount of SAR (120) million (equivalent to 10% of the par value) in addition to amount disbursed for the first half of the year 2020 with a value of SAR (90) million. Accordingly, the total dividends distributed and proposed to be distributed for the year ending on December 31st, 2020 shall be SAR (210) million (equivalent to 17.5% of the par value) in the amount of SAR (1.75) per share, “provided that the remuneration eligibility is prioritized for the actual shareholders on the day of the Assembly and who are registered in the company's shareholders register at the Depository Center at the end of the second trading day following the due date"; The distribution date will be announced later.

8 Approve on paying an amount of (SAR 1,400,000) as remuneration to the Board members for the fiscal year ending on 31/12/2020 G, (200,000) for each member

9 Approve on the contracts and transactions concluded between the company and Al Rashed Cement Co., in which the Chairman Mr. Salah Al Rashed and Board member Mr. Abdulmohsen Al Rashed (Non-Executive Director) have an direct interests therein. It shall be noted that this transaction is in fact a Cement Sales . The said transaction for the previous year, 2020 was valued at SAR 80.2 million, taking into consideration that no preferential terms are applicable to this type of contracts. (Attached)

10 Approve on the contracts and transactions concluded between the company and Precast Building System Company, in which Board member Mr. Khalifa AlMulhem (Non-Executive Director) have an direct interests therein. It shall be noted that this transaction is in fact a Cement Sales . The said transaction for the previous year, 2020 was valued at SAR 1.7 million, taking into consideration that no preferential terms are applicable to this type of contracts.

Comments