Saudi Cement

2015-03-18 (1436-05-27 )      08:03:31

Saudi Cement Company. has announced that the company held its Ordinary general assembly meeting in the Dammam Sheraton Hotel in Dammam on 17-03-2015 corresponding to 26-05-1436 at 16:00. All resolutions of the meeting are as follows:

1. Approval of Board of Directors report for the financial year 2014.
2. Approval of financial statements and the Auditors Report for the financial year ended on 31/12/2014.
3. Absolving the Board of Directors from responsibilities with respect to the management of the company for fiscal year ended on 31/12/2014.
4. Approval of Board of Directors proposal of distributing cash dividends at the rate of SR 6 per share representing %60 of the nominal share value with total amount of SR 918 million out of which Interim dividends for First half of 2014 were already distributed at the rate of SR 3.5 per share representing %35 of the nominal share value with total amount of SR 535.5 million. Entitlement to interim dividends for the Second half of 2014 at the rate of SR 2.5 per share representing %25 of the nominal share value with total amount of SR 382.5 million shall be to shareholders on the registers of the Securities Depository Center (Tadawul) at the close of trading on the day of this general assembly meeting. The distribution of the dividends shall commence on 26/03/2015 (06/06/1436) through Riyad Bank by direct transfer to bank accounts linked to investment portfolios of stockholders with portfolios and by cash payment to stockholders without investment portfolios at the counter of any Riyad Bank branch on presentation of their national ID card.
5. Approval of disbursement of an amount of SAR2,200,000 (Two Million Two Hundred Thousand Saudi Riyal) as directors remuneration for the year 2014 at the rate of SAR 200,000 per director.
6. Approval of Audit Committee nominee Ernst & Young as external auditor of the company for the audit of financial year 2015 and review of quarterly interim financial statements.

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