Yamama Cement GA Authorizes BOD to Distribute Interim Dividends for 2022

Yamama Cement Company announced on Tuesday the results of the Fifty-Fourth General Assembly Meeting (FIRST MEETING). The date of the General Assembly’s Meeting is 28.03.2022. The percentage of attending shareholders is 34.22 %.

Voting Results on the Items of the General Assembly’s Meeting Agenda’s:

1. The approval of the Board of Directors’ report for the financial year ending on 31.12.2021.

2. The approval of the company’s financial statements for the financial year ending on 31.12.2021.

3. The approval of company’s auditor’s report for the financial year ending on 31.12.2021.

4. The approval of discharging the members of the Board of Directors from for the financial year ending on 31.12.2021.

5. The approval of the hiring of the company’s auditor AlKharashi Co. Certified Accountants and Auditors on the recommendation of the audit committee, in order to check, review and audit the financial statements for the quarters (second, third, and annual) of the financial year 2022, and the first quarter of the financial year 2023, and determine its fees.

6. The approval of delegating the Board of Directors to distribute interim dividends in semi-annually / quarterly basis for the financial year 2022.

7. The approval of the business and contracts that took place between the company and the Yemeni Saudi Company, in which the former Vice Chairman of the Board Prince Sultan bin Muhammad bin Saud Al Kabeer has a direct interest, which is about guarding expenses for the factory located in Yemen during the year 2021 and there are no preferential terms in the amount of 252 thousand riyals.

8. The approval of the business and contracts that took place between the company and the Arab Shield Cooperative Insurance Company, which belong to the former deputy of the board of directors, Prince Sultan bin Muhammad bin Saud Al-Kabeer, the current deputy chairman of the board, Prince Nayef bin Sultan bin Muhammad bin Saud Al-Kabeer, and a member of the board of directors, Eng. Abdullah bin Abdulrahman Al-Obaikan A direct interest in it, which is a cooperative insurance during the year 2021, and there are no preferential terms at an amount of 13,545 thousand riyals.

9. The approval of the business and contracts that took place between the company and the Saudi Mobile Telecommunications Company “Zain”, in which the Vice Chairman of the Board of Directors Prince Nayef bin Sultan bin Muhammad bin Saud Al-Kabeer has an indirect interest, which is the provision of telecommunications services during the year 2021 and there are no preferential conditions In the amount of SR1,543 thousand.

10. The approval of the business and contracts concluded between the company and Al Rajhi Bank, in which a member of the Board of Directors, Eng. Faisal bin Sulaiman Al Rajhi, has an indirect interest, which is the provision of financing services during the year 2021, and there are no preferential terms at an amount of SR563 million.

11. The approval of the business and contracts between the company and Cement industry products in which the former board member and CEO, Mr. Jehad bin Abdulaziz Al-Rasheed, has an indirect interest, which is the sale of cement bags during the year 2021, and there are no preferential terms for an amount of SR16,302 thousand.

12. The approval of disbursing an amount of SR1,400,000 as a reward for members of the Board of Directors for the financial year ending on 31.12.2021.

13. The approval to amend the policies and standards of membership.

14. The approval of the Social Responsibility.