Qassim Cement Approves Employee Shares Programme and Treasury Share Retention

Qassim Cement Co. announced on Thursday that its 53rd Extraordinary General Assembly Meeting (Second Meeting) approved the establishment of an employee shares programme, authorising the Board of Directors to determine the programme’s terms, including the share allocation price if offered for a consideration.

The remaining voting results were as follows:

– Approval of retaining treasury shares resulting from the acquisition of Hail Cement Company, totaling (798,353) shares, for a period of (10) years;

– Approval of authorising the Board of Directors to use treasury shares, wholly or partially, in exchange transactions for acquiring companies or assets, and/or using them within the employee stock programme;

– The Board of Directors’ report for the fiscal year ending December 31, 2024, was reviewed and discussed;

– Approval of the auditor’s report for the fiscal year ending on 31-12-2024 after discussing.

– The consolidated financial statements for the fiscal year ending on 31-12-2024 were Reviewed and discussed;

– Approval of appointing (Dr. / Mohamed Al-Amri & Co.) 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, the annual financial statements of the year 2025 and the first quarter of the year 2026, with total agreed fees amounted of SAR 850,000;

– Approval of absolving the members of the Board of Directors from liability for the year ending December 31, 2024;

– Approval of disbursing SAR 4,515,342 as remuneration to the members of the Board of Directors for the year ending December 31, 2024;

– Approval of authorising the Board of Directors to distribute interim dividends on a quarterly basis for the year 2025; and

– Approval of updates to the Audit Committee’s charter.