| Element List | Explanation |
|---|---|
| Introduction | Arabian Cement Company announces the results of the 70th Ordinary General Assembly meeting (the Second meeting), which was held at 20:00 pm on Sunday 29-10-1446H corresponding to 27-04-2025 virtually by modern technology means, as the attendance reached 22.11% of the shares representing the capital. |
| City and Location of the General Assembly's Meeting | via modern technological means from the company's headquarters in Jeddah |
| Date of the General Assembly's Meeting | 2025-04-27 Corresponding to 1446-10-29 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 22.11 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting of the General Assembly was attended by the following members of the Board of Directors: |
1- Eng. Mutaz Kusai Hassan AlAzzawi (Chairman)
2- Mr. Saud Abdulaziz Abdullah Al- Sulaiman (Deputy Chairman)
3- Mr. Yousef Saleh Mansour Abalkhail
4- Mr. Turki Abdullah Abdulaziz Al-Rajhi
5- Mr. Fahd Abdullah Mohammed Alissa
6- Mr. Khaled Malik Rafiq Al- Ghalib Alsharif
7- Mr. Abdulaziz Abdullah Abdulaziz Al Molhem
8- Mr. Mazen Hani Zaki Altamimi
9- Mr. Talal Husam Aldean Hassan Alrasheed
2- Mr. Mazen Hani Zaki Altamimi (Chairman of Audit committee)
3- Mr. Khaled Malik Rafiq Al-Ghalib Al-Sharif (Chairman of Nomination Remuneration Committee)
2- Approval of the company's auditor report for the FY ending on December 31st, 2024
3- the company's financial statements for the FY ending on December 31st, 2024 were reviewed and discussed.
4- Approval of the appointment of Ernst & Young Professional Consulting 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 and annual quarters of the fiscal year 2025 and the first quarter of the fiscal year 2026, with a total fee of 725,000 riyals.
5- Approval to disbursing (3) million SAR as a remuneration to the Board of Directors for the FY ending at December 31, 2024
6- Approval to absolving the Board members from liabilities for their activities pertain to management of the Company for the FY ending on December 31st, 2024
7- Approval of authorizing the Board of Directors to disburse interim dividends on a quarterly/semiannual basis for the FY 2025.
8- Approval of the Board of Directors recommendation to distribute cash dividends in the amount of (75) million Riyals to shareholders for the second half of 2024 (0.75) Riyal per share (equivalent to 7.5% of the capital). Provided that the eligibility of shareholders owning shares by the end of the trading day of the General Assembly and registered in the Register of shareholders of the company with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date, the date of dividend distribution will be on Thursday 17/11/1446 AH corresponding to 15/05/2025 AD.
9- Approval of the works and contracts concluded between the company and the Ready-Mix Concrete and Construction Supplies Company in Jordan, in which the members of the board of Directors, Mr. Saud Abdulaziz Abdullah Al-Sulaiman (non-executive member) and Mr. Turki Abdullah Abdulaziz Al-Rajhi ( non-executive member ) have an indirect interest in which they are members of the board of Directors of the Ready-Mix Concrete and Construction Supplies Company, which is the purchase of the Ready-Mix Concrete and Construction Supplies Company(Associate) cement from Qatrana Cement Company (Subsidiary) with an amount of (25,699,129) Saudi Riyals for the previous year 2024, noting that there are no preferential terms on this type of contract.
10- Approval to delegating the board of directors the authority of the Ordinary General Assembly with the license contained in Paragraph (1) of the twenty-seventh article of the companies law, for a period of one year from the date of approval of the General Assembly or until the end of the session of the authorized Board of directors, whichever is earlier, in accordance with the conditions set out in the executive regulations of the companies law for listed Joint Stock Companies.
11- Approval to the disbursement of an amount of (55,000) Riyals as additional fees for the fiscal year 2024 to the external auditor Office of Ernst & Young in exchange for additional expenses related to the application of the ISA600 auditing standard for the audit work of the group and subsidiaries.
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