The QCC board of directors cordially invites its valuable shareholders holding twenty (20) shares or more to attend the 35th Ordinary General Assembly which will be held at Movenpick hotel, Buraidah Al-Qassim on Wednesday, 01/05/1434H corresponding to 13/03/2013G at 4:00 pm.
The agenda for consideration will be as follows:
1. The approval on the Board of Directors reports.
2. The endorsement of the company's Balance Sheet, and Profits and Losses for the financial year ended 31/12/2012G.
3. The approval on the Board's proposal of the distribution of dividends for the year 2012 by SAR 540 million representing 60% of the par value of the share as follows:
a. SAR 225 millions (SAR 2.5 per share) was distributed for the first half 2012.
b. SAR 315 million (SAR 3.5 per share) shall be distributed to eligible shareholders registered at the end of trading day of the 35th Ordinary General Assembly meeting.
4. Discharge Board of Director members.
5. Approving inter-company transactions between Qassim Cement (Parent) and Cement Industries Company (a subsidiary) during the year 2012, Engineer Abdullah Bin Abdulatif Al-Saif – Chairman of the Board of Directors owns 1% of the capital of Cement Industries Company (subsidiary) which is SAR 50 million, and the company managed by Engineer Omar Bin Abdullah Al-Omar – Board Member and Chief Executive Officer in the capacity of Acting General Manager of Cement Industries Company (subsidiary). Accordingly, the business relationship between the two companies representing the sales of cement, concrete and other services as follows:
a. Sales of cement by Qassim Cement company to Cement Industries Company (SAR 19,721,445)
b. Sales of concrete by Cement Industries Company to Qassim Cement company (SAR 18,030)
c. Other services provided by Cement Industries Company to Qassim Cement Company (SAR 973,718)
d. The company's sales to its subsidiary are in the same terms and condition of transactions with customers which does not render any preferential treatment or special terms.
6. Approving the selection of an external auditor of the company among the recommended shortlisted candidates by the Audit Committee to audit and review the financial statements for the fiscal year 2013 and the first quarter of 2014 respectively, as well as to review the interim financial reports and its corresponding professional fees.
Eligible shareholder who owns twenty (20) shares or more are entitled to attend the above General Assembly meeting and for those who can't attend by themselves, they can delegate someone by proxy which must present a Power of Attorney in a form stated below and submitted (handed over) to the company's head office building, Second floor, Buraidah, Al-Qassim or mailed to company address provided that these must be received by the company at least 3 days in advance based on the decree of the Ministry of Trade no. 959 dated 27/04/1423H. It should be noted that the meeting will not be valid unless attended by at least 50% of the company's shares capital amounting to ninety million shares.
(Power of Attorney)
I, (state the name of shareholders / company representative expressly stated in commercial registration) hereby states under (__) No. and date / / 1434H representing a shareholder of Qassim cement Company which owns (number) shares has appointed a Proxy, ( Name of Proxy ) (which are not members of the Board of directors or officers of the company or assigned parties to do permanent administrative or technical works) to represent in my behalf during the 35th Ordinary General Assembly Meeting to be held on Wednesday, 01/05/1434H corresponding to 13/03/2013G to vote on agenda and sign in my behalf all required documents presented during the meeting. This Power of Attorney is also valid for the second meeting in case of postponement of the said event.
Done at / / 1434H
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