Al Jouf Cement shareholders approve board, audit reports for FY 2019

Al Jouf Cement Co.’s shareholders approved financial statements as well as audit and board reports for the fiscal year 2019 during the ordinary general meeting (OGM) held on June 29, 2020.

The company said in a bourse statement on Tuesday that shareholders also approved discharging board members from liabilities during FY2019, as well as appointing Al-Kharashi and Co. as accountant and auditor to audit financial statements for Q2, Q3, Q4, FY2020 and Q1 2021.

The general assembly also approved the work and contracts that will be concluded between the company and the Saudi Marsh Insurance Company, in which board member Abdullah Al-Kaaki has a direct interest.

Shareholders also approved delegating the board of directors the authority of the general assembly as mentioned in Paragraph (1) of Article 71 of the Companies Law, for a period of 1 year from the date of the assembly’s approval, or until the end of the term of the board, whichever is earlier, as per the regulatory rules and procedures issued relating to listed joint stock companies.