Southern province Cement Company on the results of the General Assembly meeting that was held at exactly 18:30 on 29/08/1442 AH – 11/04/2021 Main Center in Abha – Asir region Hall Eng / Amer Saeed Burgan (God’s mercy) the legal Quorum by modern means of (64.04%) of the capital
Names of the members of the board of directors participating in the association:
Attended the General Assembly meeting by means of modern technology:
1- Dr. Hamad bin Sulaiman Al-Bazai (Chairman)
2- Mr. Mohammed bin Nasser Al Nabet (Deputy Chairman)
3- Dr. Abdullah bin Nasser Abu Thanin
4- Mr. Mansour Abdulaziz Al-Sagheer
5- Eng. Abdullah bin Abdulaziz Al-Qaed
6- Mr. Majid bin Khalid Al-Assaf
7- Mr. Jasser bin Abdullah Al-Jasser
8- Eng. Ahmed bin Ali bin Abdul Karim Al-Luhaidan
9- Eng. Thamer bin Muhammad bin Muqhem al-Muhaid
The heads of the committees or their delegates attended by means of modern technology:
1- Dr. Hamad bin Sulaiman Al-Bazai (Head of the Economic Committee)
2- Mr. Mansour Abdulaziz Al-Sagheer (Head of the Investment Committee)
3- Eng. Ahmed bin Ali bin Abdul Karim Al-Luhaidan (Head of the Audit Committee)
4- Eng. Thamer bin Muhammad bin Muqhem al-Muhaid (Head of the Nominations and Remuneration Committee)
Where the results of voting on the agenda of the Assembly as follows:
First – Approval of the Board of Directors’ report for the financial year ending 31/12/2020.
Second – Approval of the company’s financial statements for the financial year ending 31/12/2020.
Third – Approval of the company’s auditor’s report for the financial year ending 31/12/2020.
Fourth: Approval of the board of directors ’decision regarding the distribution of cash dividends to shareholders for the first half of 2020, by (2.25) riyals and (22.5%) of the capital and a total amount of (315 million) riyals.
Fifth – Approval of the Board of Directors ’recommendation to distribute dividends to shareholders for the second half of the fiscal year ending on 12/31/2020, at the rate of (2.5) riyals per share, at a rate of (25%) of the capital and a total amount of (350 million) riyals, provided that it is Eligibility for shareholders who own shares at the end of the trading day of the General Assembly and are registered in the company’s shareholders register at the Securities Depository Center Company (Depository Center) at the end of the second trading day following the maturity date, provided that the distribution of profits begins on Sunday 13/09/1442 AH – 25/04/2021.
Sixth – Approval of the appointment the KPMG office of the company auditor from among the candidates, upon the recommendation of the audit committee, to examine, review and audit the financial statements for the (second and third) quarters and the annual of the fiscal year 2021, and the first quarter of the fiscal year 2022, at fees of (495,000) riyals.
Seventh – Approval of authorizing the Board of Directors to distribute interim dividends on a semi-annual basis for the fiscal year 2021.
Eighth – Approval of the Board of Directors’s decision to appoint Eng. Ahmed Ali Abdul Karim Al-Luhaidan – Independent Board Member – Head of the Audit Committee, starting from 01/01/2021 until the end of the current committee’s term of office on 31/12/2021, in place of the former Head of the Committee, Mr. Muhammad bin Nasser Al-Nabit – Non-Executive Board Member – provided that the appointment shall take effect from the date of the decision issued on 29/12/2020, and this appointment shall be in accordance with the regulations of the Audit Committee.
Ninth – Approval of the works and contracts that will be concluded between the Southern Province Cement Company and the Saudi Chemical Holding Company, in which the member of the Board of Directors, Eng. Thamer bin Muhammad bin Muqham al-Muhaid, has an indirect interest in it in his capacity as its CEO, and it consists of supplying civilian explosives for a period of (36) months that has begun On 07/02/2019 until 06/02/2022, it is automatically renewed for a similar period, and the annual transaction value is estimated at about (10) million riyals, according to the actual quantities transferred and delivered to the buyer without preferential conditions.
Tenth – Approval of the business and contracts that will be concluded between the Southern Province Cement Company and the United Cooperative Insurance Company, in which a member of the Board of Directors Mr. Mansour bin Abdulaziz Al-Sagheer has an indirect interest in it, as he holds a board membership in it knowing that the nature of this deal is insurance Policies of about (3.3) million riyals for the year 2021 Represented in (company property insurance – Securing equipment insurance – Sea freight insurance) without preferential terms.