‎“Hail Cement” GA to authorize BOD to distribute interim profits ‎for 2023‎

The Board of Directors of Hail Cement Co. announced the results of the Ordinary General Assembly meeting (the second meeting), which was held yesterday, corresponding to April 5, 2023 AD, at 10:30 pm at the company’s headquarters in Hail, through modern technology.

Voting results:

– The report of the Board of Directors for the fiscal year ending on December 31, 2022 AD was reviewed and discussed.

– Approval of the company’s auditor’s report for the fiscal year ending on December 31, 2022.

The financial statements for the fiscal year ending on December 31, 2022 AD were reviewed and discussed.

– Approval to release the members of the Board of Directors from liability for the fiscal year ending on December 31, 2022.

– Approval of the appointment of Mr. Al-Ayouti and his partners, certified accountants and auditors, from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2023 AD and the first quarter of the fiscal year 2024 AD, and determine his fees.

– Approval of allocating an amount of 450 thousand riyals from the company’s budget for the fiscal year 2023 AD for social responsibility.

– Approval of disbursing an amount of 1,750,000 riyals as a reward for members of the Board of Directors for the fiscal year 2022 AD.

– Approval of authorizing the Board of Directors to distribute interim profits on a semi-annual or quarterly basis for the fiscal year 2023 AD.