United Mining Industries Elects Five New Board Members

United Mining Industries Company announced on Wednesday that it would announce the results of the Extraordinary General Assembly meeting (first meeting), which was held on Tuesday, which included approval of the election Board of Directors members from the applicants for the upcoming term of the board starting from 30/05/2024 and end on 05/29/2027 for the following members:

– Eng. Khalid Abdullah Al Shami

– Eng. Raed Ibrahim Al Mudaiheem

– Dr. Abdullah Ibrahim Al Mojel

– Mr. Ali Saleh Al Dakheel

– Mr. Abdul Rahman Al Bluwe

The rest of the voting results on the Assembly’s agenda were as follows:

1. The Board of Directors report for the financial year ending on 31/12/2023 has been reviewed and discussed.
2. The company’s financial statements for the financial year ending on 31/12/2023 have been reviewed and discussed.
3. Approval of the company’s auditor’s report for the financial year ending on 31/12/2023.
4. Approved discharge of the Board of Directors for the financial year ended 31/12/2023.
5. Approval the appointment of (Baker Tilly) as the company’s auditor from the candidates based on the recommendation of the Audit Committee, for the examination, to review and audit the financial statements for the second, third and fourth quarters of the financial year 2024, and the first quarter of the financial year 2025 determining their fees by 432 thousand SAR.
6. Approval of authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly to the shareholders for the financial year 2024.
7. Approval of the transactions and contracts between the company and Al-Rashed Wood Products Company, in which Board member Eng. Khaled Abdullah Al Shami, has a direct interest, involving sales of gypsum boards and cement boards. Totaling 7,715,346 Saudi Riyals in the year 2023, Conducted without any Preferential terms.
8. Approval of the transactions and contracts concluded between the company and Al-Rashed Cement Products Company, in which Board member Eng. Khalid Abdullah Al Shami, has a direct interest, involving purchases of cement totaling 214,510 Saudi Riyals in the year 2023, Conducted without any Preferential terms.
9. Approval of the transactions and contracts concluded between the company and Masdar Building Materials Company, in which the Chairman of the Board of Directors, Eng. Raed Ibrahim Al Mudaiheem, has a direct interest, these transactions include sales of gypsum boards and cement boards. Totaling 2,568,209 Saudi Riyals in the year 2023, Conducted without any Preferential terms.
10. Approval of disbursing the amount of 1,275,000 riyals as remuneration members of the Board of Directors for the financial year ending on 31/12/2023.
11. Approval to authorize the Board of Directors with powers of the Ordinary General Assembly as stipulated in Paragraph (1) of Article (27) of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the current Board’s term, whichever comes first, in accordance with the conditions outlined in the Executive Regulations of the Companies Law. For listed joint stock companies.
12. Approval of the policy of membership standards and procedures in the Board of Directors.
13. Approval of amendment of the audit committee work regulations for the company.
14. Approval to amend the company’s articles of association to align with the new companies Law.
15. Approval of amending Article Two of the Articles of Association regarding the company’s name.
16. Approval of amending Article Three of the Articles of Association, regarding the company’s purposes.
17. Approval of amending Article Nineteen of the Articles of Association concerning the Board’s authorities.
18. Approval of amending Article twenty of the Articles of Association regarding board members’ remuneration.
19. Approval of the amendment to Article Twenty-One from Articles of Association concerning the President, Vice President, Managing Director, and Secretary authorities.
20. Approval of amending Article Forty-Six of the Articles of Association regarding the profit distribution.
21. Approval of amending Article Fifty of Articles of Association regarding liability claims.