Hail Cement GA to discuss share purchase, keep as treasury share

The Board of Directors of Hail Cement company has the pleasure to invite shareholders to attend the eighteenth Extraordinary General Assembly Meeting which will be held on Tuesday 29 ZulQaedah 1443, corresponding to 28 June 2022 at 06.30 pm (virtually) through the contemporary technology means, to vote on the following agenda.

General Assembly Meeting Agenda:

1- Vote on the company’s purchase of a number of its shares a maximum of (4,895,000) shares and keep them as treasury shares, as the Board of Directors considers that the share price in the market is less than its fair value, and the purchase will be financed from the company’s own resources or credit facilities, and authorizing the Board of Directors to complete The purchase process is within a maximum period of twelve months from the date of the decision of the extraordinary general assembly, and the company will keep the purchased shares for a maximum period of (10) years from the date of approval of the extraordinary general assembly, and after the expiry of this period, the company will follow the procedures and controls stipulated in the relevant laws and regulations.

The Extraordinary General Meeting will be Quorum by the attendance of at least 50% of the company shares, if Quorum failed in the first meeting, the second meeting will be held one hour after the specified time of the first meeting, Second Meeting will have quorum by the attendance of 25% of the company shares, If the necessary quorum is not present at the second meeting, an invitation will be sent to a third meeting to be held in the same conditions stipulated in Article (30) of the company’s Article of association. The third meeting shall be valid regardless of the number of shares represented therein, after the approval of the competent authority.

All shareholders registered in Tadawulaty services can vote on the General Assembly agenda online in Tadawulaty website, starting Friday 25 ZulQaedah 1443H Corresponding to 24 June 2022G 10.00am until the end of GM.

Registration and voting shall be available free of charge in Tadawulaty services for all shareholders by using the following link:

www.tadawulaty.com.sa

Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes