Eastern Province Cement Co. announces the results of shareholder AGM

20/03/2014 08:46 AST

Eastern Province Cement Co. has announced that the company held its Ordinary general assembly meeting in the Eastern Cement Tower in Dammam on 19-03-2014 corresponding to 18-05-1435 at 16:00. All resolutions of the meeting are as follows:

1. Approval of Board of Directors Report on the company activity for the fiscal year ended on 31-12-2013
2. Approval of Auditors Report for the fiscal year ended on 31-12-2013
3. Approval of Balance Sheet and other financial statements for the fiscal year ended on 31-12-2013
4. Releasing the Board of Directors from responsibilities with respect to the management of the company for fiscal year 2013
5. Approval of the Boards proposal on the distribution of dividends on 02-06-1435 corresponding to 02-04-2014 of SAR 3.50 per share equivalent to 35% of the nominal share value for shareholders enrolled the Company's Shares Record at the end of trading date of the general assembly meeting.
6. Approval of paying an amount of SAR 1,600,000 as a bonus to the board members, SAR 200,000 for each member, for the year ended 31-12-2013
7. Approval of the proposed amendments on the Audit Committee Policy.
8. Selection of external auditor among candidates nominated by the audit committee for auditing the quarterly and annual accounts of the company for the fiscal year 2013 along with defining their audit fees, M/s. KPMG Al Fozan & Al Sadhan has been appointed.

Tadawul