12-02-2015 (23-04-1436 )
The Board of Directors of Saudi Cement Company (SCC) is pleased to invite the shareholders owning twenty shares and more to attend the 56th Regular General Assembly meeting which will be held after achieving 50% quorum on Tuesday 26/05/1436H corresponding to 17th March 2015 at 4:00 p.m at Sheraton Dammam hotel. Respected attendees are kindly requested to come to the meeting at least one hour prior to its commencement for finalization of registration formalities, and to decide on the following agenda:
- Approval of Board of Directors’ Report for the fiscal year 2014 .
- Approval of financial statements and the Auditors Report for the fiscal year ended on 31/12/2014.
- Absolving the Board of Directors from responsibilities with respect to the management of the company for fiscal year 2014.
- Approval of Board of Directors’ proposal on the distribution of cash dividends at the rate of SAR 6 (Six Saudi Riyal) per share representing of 60% of the nominal share value with total amount of SAR 918 million (Nine hundred eighteen million Saudi Riyal only) . Interim dividends for First half of 2014 were already distributed at the rate of SAR 3.5 (Three and half Saudi Riyal) per share representing 35% of the nominal share value with total amount of SAR. 535.5 Million (Five hundred thirty five million and five hundred thousand Saudi Riyal only). Entitlement to interim dividends for the Second half of 2014 at the rate of SAR 2.5 (two and half Saudi Riyal) per share representing 25% of the nominal share value with total amount of SAR. 382.5 Million (Three Hundred eighty two million five hundred thousand Saudi Riyal only) to shareholders enrolled on Tadawul’s Shares Record at the end of trading date of the general assembly meeting. The date of the distribution will be announced later.
- Approval of disbursement of SAR 2.2 million (Two million two hundred thousand) as Directors’ remuneration for 2014 at the rate of SAR 200,000 (Two hundred thousand Saudi Riyal) for each Board of Directors’ member.
6- Selection of external auditor among candidates nominated by the Audit Committee for auditing annual financial statement of year 2015 and reviewing the quarterly accounts of the company along with defining their audit fees, or selecting other external auditors.
This meeting will be held when the quorum for the meeting is achieved by the presence of shareholders representing 50% of the company share capital. All eligible shareholders who would like to authorize some other eligible shareholders to attend the meeting on their behalf may do so provided that the attorney shall not be an SCC’s board member or employee of the company. Original Power of attorneys dully authenticated from a chamber of Commerce or a bank operating in KSA or their employers or official government department should be sent to the company’s head office at least three days prior to the general assembly meeting. As per directions of the Ministry of Commerce & Industry, all the shareholders or their legal representatives who will attend the meeting shall present their ID Card and proof of shares ownership.