Umm Al Qura Cement shareholders approve 2018 statements, reports

17/04/2019 Argaam

Umm Al Qura Cement Co.’s shareholders approved on Tuesday the audited financial statements and audit report for the fiscal year 2018, the company said in a bourse statement.

 

Shareholders also approved the board report and discharging board members from liabilities during FY 2018.

 

They approved appointing RSM as the external auditing office for Q2, Q3, Q4 and fiscal year 2019, as well as Q1 2020.

 

The general assembly approved planned contracts and deals with Abdulaziz bin Omran Al Omran Company, as Chairman Abdulaziz bin Omran Al Omran is a related party. The deals are expected to be worth SAR 20 million.

 

Shareholders authorized the board of directors to distribute quarterly or semi-annual dividends for fiscal year 2019.

 

They also approved to amend the board and committees’ remuneration policy.

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