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Al Jouf Cement Co. Announces the Results of the Extraordinary General Assembly Meeting (Second Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Al Jouf Cement Company is pleased to announce to its ‎ shareholders the results of the Extraordinary ‎General Assembly Virtual Meeting (Second Meeting), which ‎was held at 22:00 on ‎Thursday, 06-Ramadan-1446 AH (corresponding to ‎‎06-March-2025 ). The second meeting convened one ‎hour after the scheduled time for the first meeting due ‎to the absence of the required legal quorum for the first meeting.‎ |
| City and Location of the General Assembly's Meeting | A virtual meeting at the company's headquarters in Riyadh. |
| Date of the General Assembly's Meeting | 2025-03-06 Corresponding to 1446-09-06 |
| Time of the General Assembly’s Meeting | 22:00 |
| Percentage of Attending Shareholders | 37.59% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by the following Board Members: 1. Eng. Abdullah bin Awda Al-Ghabin – Chairman 2. Eng. Ahmed bin Mohammed Al-Faleh – Vice Chairman 3. Mr. Saud bin Abdullah Al-Bawardi – Member 4. Mr. Abdulaziz bin Abdulelah Kaaki – Member 5. Eng. Abdullah bin Abdulaziz Al-Zunaidi – Member 6. Mr. Abdulkarim bin Mohammed Al- Nuahyer – Managing Director and CEO 7. Mr. Abdulrahman bin Suleiman Al-Awdan – Member All Board Members were present, and none were absent. |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1. Eng. Abdullah bin Awda Al-Ghabin – Chairman of the Executive Committee 2. Eng. Ahmed bin Mohammed Al-Faleh – Chairman of the Nominations and Remuneration Committee 3. Mr. Aziz bin Mohammed Al-Qahtani – Chairman of the Audit Committee (External Member) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | First: Approval to close the statutory reserve amounting to SAR 62,946,016 as of September 30, 2024, in the retained earnings account. Second: Approval to file a liability lawsuit against three former members of the Board of Directors, from the date of the company’s listing until July 31, 2022, who held direct and indirect executive powers in Al-Jouf Cement Company and its subsidiaries. These members were mentioned in the external auditor’s report by Abdullah Fahad Al-Sahli Office (Daxin), regarding suspected financial and administrative manipulations, as outlined in the company’s announcement dated January 5, 2025. Third: Approval to authorize the Managing Director and CEO, in the event that the Assembly approves the second clause, to take all necessary regulatory and contractual measures to file the lawsuit before the competent authorities. |
| Additional Information | None |
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 9.99
Net Change 0.05 (+0.5%)
Value Traded (Sar) 1,085,231.72
Volume Traded 108,875
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