Al Jouf Cement Company announces the Board of Directors' decision to cancel the previous recommendation to the Extraordinary General Assembly to increase the company's capital.

Element List	Explanation
Introduction	Al Jouf Cement Company announces the Board of Directors' decision to cancel the previous recommendation to increase the capital, which aimed to settle the company's financial obligations and distribute profits to shareholders. The Board of Directors made this decision to cancel the previous recommendation for the following reasons:

1. Rescheduling the company's loans with both Alinma Bank and SAB.

2. Improvement in the company's sales, which contributed to enhancing cash flows.

3. Implementation of various initiatives that led to a reduction in costs. Previous Announcement Recommendation by the Board of Directors to reduce the company's capital and then increase the company's capital by issuing priority rights shares. Date of Previous Announcement on Saudi Exchange’s Website 2022-04-04 Corresponding to 1443-09-03 Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here Latest Developments Of The Announced Event Board of Directors' decision to cancel the recommendation to increase the company's capital. Reasons For The Delay on The Date of The Event Previously Announced Rescheduling loans with banks, improving the company's sales, and implementing various initiatives aimed at reducing costs. The costs associated with the event, and if they have changed or not with indication of the reasons. None Delay consequences on the Company’s financial results None Additional Information None

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