Qassim Cement Company is pleased to announce the resolutions of the 35th Ordinary General Assembly which were attended by the overwhelming valuable shareholders and the Board of directors last Wednesday, 13/03/2013G corresponding to 01/05/1434H at 4:00 pm at the Movenpick hotel, Buraidah, Al-Qassim.
The General Assembly quorum was achieved and the following agenda were approved:
(1) The Board of Directors annual reports.
(2) Endorsement of the company's balance sheet and profit and loss accounts for the financial year ended 31/12/2012;.
(3) The Board's proposal on the distribution of profits for the year 2012 at SAR 540 million representing 60% of the par value of the shares (SAR 6 per share), broken down as follows:
a) SAR 225 million representing 25% of the par value of the shares (SAR 2.50 per share) was distributed for the first half of 2012.
b) SAR 315 million representing 35% of the par value of the shares (SAR 3.5 per share) shall be distributed to eligible shareholders of records at the Saudi Stock Exchange (Tadawul) registered at the end of trading day of the General Assembly meeting, which was held on Wednesday, 13/03/2013G corresponding to 01/05/1434H. The payment of SAR 3.5 dividends per share shall be distributed by the National Commercial Bank (NCB) by direct transfer to respective bank account of shareholders holding stock portfolio, as well as direct payment to shareholders holding stock certificate by presenting their valid national ID starting on Saturday, 30/03/2013G corresponding to 18/05/1434H.
(4) Discharge of the Board of Director members.
(5) Adoption of inter-company transactions between Qassim Cement (Parent) and Cement Industries Company (subsidiary) for the year 2012.
(6) The external auditor, Deloitte & Touche Bakr Abulkhair & Co. was selected and approved to audit the financial statements of the company for the fiscal year 2013 and review the first quarter of 2014, as well as the interim financial reports.