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Qassim Cement Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Qassim Cement Company held the fiftieth extraordinary general assembly meeting at 18:30 on Monday 15-04-2024 corresponding 06-10-1445 (H). |
| City and Location of the General Assembly's Meeting | By using modern technology means from the company's headquarter in Buraydha. |
| Date of the General Assembly's Meeting | 2024-04-15 Corresponding to 1445-10-06 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 50.83% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The Fifty Extraordinary General Assembly was held in the presence of all the board members as follows: Eng. Muteb bin Mohammed Al-Shathri (Vice Chairman) Eng. Omar bin Abdullah Al-Omar (CEO). Mr. Saad bin Ibrahim Al-Mushawah. Mr. Abdulrahman bin Mohammed Al-Rawwaf. Mr. Tariq bin Khalid Al-Marshoud. Eng. Ahmed bin Saleh Al-Sultan. Mr. Osama bin Nasser Al-Saif. Dr. Ghazi bin Abdulrahim Al-Rawi. Dr. Muhammad bin Nasser Al-Dawood (Chairman of the Board of Directors) did not attend the EGM. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | With the presence of: Mr. Saad bin Ibrahim Al-Mashouh (Audit Committee Chair). Mr. Abdulrahman bin Mohamed Al-Rawwaf (Nomination and Remuneration Committee Chair). Eng. Muteb bin Mohammed Al-Shathri (On behalf of the Executive Committee Chair). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1) The Board of Directors' report for the fiscal year ended on 31-12-2023 was reviewed and discussed. 2) Approval and discussion on the company's auditor's report for the year ended 31-12-2023. 3) The financial statements for the fiscal year ended on 31-12-2023 were reviewed and discussed. 4) Approval on appointing KPMG Professional Services as 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 second & third quarters, annual of the year 2024 and the first quarter of the year 2025, for agreed professional fees amounted of 800,000 SAR, excluding VAT. 5) Approval on absolve the members of the Board of Directors from liability for the fiscal year ended on 31-12-2023. 6) Approval on updating the Remuneration Policy for the members of the board, the members of its committees and executive management. 7) Approval on disbursing an amount of (3,840,000 SAR), as remuneration to the members of the Board of Directors for the year ended on 31-12-2023. 8) Approval on delegating the Board of Directors to declare interim dividends on a quarterly basis for the year 2024. 9) Approval on the amending the Company's Articles of Association in accordance with the new Companies Law. 10) Approval on updating the Audit Committee's regulation. 11) Approval on updating the Nominations & Remunerations Committee's regulation. 12) Approval on updating the Board of Directors Membership Standards and Procedures Policy. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 58.7
Net Change 1.6 (+2.8%)
Value Traded (Sar) 3,207,406
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