Qassim Cement Company held the forty-sixth ordinary general assembly meeting at 18:30 on Wednesday 04 Shaban 1442 (H) corresponding to 17 March 2021.
City and Location of the General Assembly's Meeting: By using modern technology means (Remotely)
Date of the General Assembly's Meeting: 2021-03-17 Corresponding to 1442-08-04
Time of the General Assembly's Meeting: 18:30
Percentage of Attending Shareholders: 47.87%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees;
The forty-sixth Ordinary General Assembly was held in the presence of the following board members:
Mr. Tariq bin Mutlaq Al Mutlaq (Chairman of the Board of Directors).
Eng. Muteb Bin Mohamed AlShethry (Vice Chairman)
Eng. Omar bin Abdullah Al-Omar (CEO).
Mr. Osama bin Nasser Abdulaziz Al-Saif.
Mr. Tariq bin Khalid Al-Morshoud.
Mr. Mohammed bin Abdulrahman Al-Anqari.
Mr. Saad bin Ibrahim Al-Mashouh.
Eng. Ahmed bin Saleh Al-Sultan.
Eng. Saad bin Abdullah bin Alyan.
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf, with the presence of:
Eng. Muteb bin Muhammad Al-Shathry (Acting Representative of the Executive Committee).
Mr. Saad bin Ibrahim Al-Mashouh (representing the Audit Committee and the Nomination and Remuneration Committee).
Voting Results on the Items of the General Assembly's Meeting Agenda's:
1) Approve the Board of Directors annual report for the year ended 31-12-2020.
2) Approve the company's auditor's report for the year ended 31-12-2020.
3) Approve the financial statements for the year ended on 31-12-2020.
4) Approve appointing KPMG Al Fozan & Partners 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 quarters, annual of the year 2021 and the first quarter of the year 2022, and determining their fees.
5) Approve the decision of the Board of Directors regarding the dividends that have been distributed to shareholders amounted of 400.5 million SAR, represents (4.45) SAR per share for the first, second and third quarters of 2020.
6) Approve the business and contracts between the company and the “NBK Capital”, in which a member of the Board of Directors Mr. Tariq Bin Mutlaq Al Mutlaq has an indirect interest and to license it, where “QCC” invested part of its liquidity amounted of 8,542,200 million US dollars in a Islamic lease and finance Ltd. funds, which is managed by “NBK Capital”, of which Mr. Tariq Mutlaq Al-Mutlaq holds the position as Chairman of the Board of Directors and also holds the position as Chairman of the Board of Directors of Qassim Cement Company.
7) Approve on absolving the members of the Board of Directors from liability for the year ending 31-12-2020.
8) Approve on disbursing an amount of (2,701,918 SAR), as remuneration to the members of the Board of Directors for the year ended on 31-12-2020.
9) Approve on delegating the Board of Directors to declare interim dividends on a quarterly basis for the year 2021.
10) Approve on the Board’s resolution to appoint Eng. Mutab Muhammad Al-Shathry as a (non-executive) board member starting from the date of his appointment on 09-03-2020 G. to complete the Board term until the end of the current term on 31-12-2021 G., succeeding the former member Mr. Abdul Majeed Ahmed Al-Haqbani (non-executive member).
11) Approve on the Board’s resolution to appoint Mr. Osama Nasser Al-Saif as an (independent member) board member starting from the date of his appointment on 01-06-2020 G. to complete the Board term until the end of the current term on 31-12-2021 G, succeeding the former member Mr. Muhammad Mansour Al-Mashouq (non-executive member).
12) Approve on the Board’s resolution to appoint Mr. Tariq Bin Khald Al-Marshoud (non-executive board member) representative of the General Organization for Social Insurance as an Audit Committee member, starting from 21-10-2020 until the end of the current committee’s term on 31-12-2021, to succeed the former committee member Mr. Abdul Majeed Ahmed Al-Haqbani (non-executive board member), effective from the date of the resolution issued on 21-10-2020. This appointment is in accordance with the Audit Committee Regulations.
13) Approve on the regulation of the Standards of the Board Member's Competing Activity Regulation.
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Qassim Cement produces more than 4 million metric tons of high-quality cement and superior performance. Our professional human capital is employed in our advanced factory that works to achieve the goal of providing high quality products to our customers.
Qassim Cement Co.| Building No: 4266 | Unit Number: 1 | Buraidah: 52271 - 6735 | Kingdom of Saudi Arabia
Phone : (+966) 16 316-5555
Fax : (+966) 16 381-6041
Email : firstname.lastname@example.org