The city of “City Cement” agrees to elect a new board of directors
The City Cement Company announced today, the results of the regular general assembly meeting (the first meeting), which was held on Monday. See the Board of Directors’s report for the fiscal year ending 12/31/2024 AD and discuss it. See the financial statements for the fiscal year ending and discussing and discussing them. Approval of the audit auditor’s report on the fiscal year ending 12/31/2024 AD. Approval of dischapping the members of the Board of Directors for the fiscal year ending 12/31/2024 AD. Approval of the exchange of 1,400,000 riyals as a reward for the members of the Board of Directors for the fiscal year ending on 12/31/2024 AD. Approval of the appointment of Dr. Mohamed Al -Omari and Co. Corporation of the company’s auditor from among the candidates based on the recommendation of the review committee, to examine, review and audit the financial statements for the second, third and annual quarter of the fiscal year 2025 AD and the first quarter of the fiscal year 2026 AD, with an amount and capacity of 480,000 riyals. Approval of the delegation of the elected board of directors with the validity of the ordinary general assembly with the licensing contained in paragraph (1) of Article 27 of the companies system, for a year from the date of the approval of the General Assembly or until the end of the commissioned board of directors, whichever is earlier, according to the conditions mentioned in the executive regulations of the system of companies for the joint stock companies. Approval of the elected board of directors to distribute interim profits in a semi -annual or quarterly basis for the fiscal year 2025 AD. Approval of the election of the members of the Board of Directors from among the candidates for the next session, which will start from 06/19/2025 AD, for a period of four years until the date of 06/18/2029 AD. Approval of the recommendation of the Board of Directors not to distribute profits to the shareholders for the second half of the fiscal year ending on 12/31/2024 AD.
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