Riyadh – Mubasher: Al Jouf Cement Company has invited its shareholders to participate in the Ordinary General Assembly Meeting scheduled for 30 June 2026, which will be conducted through a hybrid format of in-person attendance and remote participation, according to a bourse disclosure.
The items on the meeting’s agenda aim to address several critical governance matters, including the ratification of multiple board appointments and the approval of fiscal reports for the 2025 financial year.
A primary focus of the assembly will be the review and discussion of the company’s performance during the previous fiscal year. Shareholders are scheduled to deliberate on the Board of Directors' report and the audited financial statements for the fiscal year ending 31 December 2025. Additionally, the assembly will vote on the company auditor’s report for the same period.
Beyond historical reviews, the agenda includes the appointment of an external auditor to oversee the financial statements for the second, third, and fourth quarters of 2026, the annual statements for 2026, and the first quarter (Q1) of 2027.
The agenda also features a specific financial resolution regarding audit costs. Shareholders will vote on a request from the external auditor to increase fees for services covering the final three quarters of 2025 and Q1-26.
The proposed adjustment would raise the total fees from the previously approved SAR 315,000 to SAR 395,000 excluding value-added tax. According to the disclosure, this SAR 80,000 increase is intended to compensate for additional costs incurred during the auditing process for the 2025 fiscal year and Q1-26.
Significant changes to the composition of the Board of Directors are also up for ratification. The assembly will vote on the appointments of six members who were selected to fill vacancies during the current term, which concludes on 5 August 2027. These appointments include Hani bin Sulaiman Al Saleh as a non-executive member, replacing Saud bin Abdullah Al Bawardi, and Saleh bin Mohammed Al Rasheed as an independent member, succeeding Abdullah bin Ouda Al Ghubain.
Other board ratifications include Eisa bin Yeslam Ba'eisa as a non-executive member, replacing Qais bin Hussein Balis, and the appointments of Ayman bin Hilal Al Jaber as an independent member, Bakr bin Atef Sandi as an executive member, and Abdullah bin Mohammed Al Kobraish as a non-executive member.
For the meeting to be considered valid, a legal quorum of shareholders representing at least one-quarter of the company’s capital must be present. Should this requirement not be met, a second meeting will be held one hour after the scheduled time of the first, which will be deemed valid regardless of the number of shares represented.
Shareholders registered in the Depository Center at the end of the trading session preceding the meeting are eligible to attend and vote.
Electronic voting is scheduled to begin at 01:00 on 26 June 2026, via the Tadawulaty platform, and will remain open until the conclusion of the assembly.
Earlier in 2026, Al Jouf Cement signed an agreement with Ltec Limited to undertake the design, supply, and installation of electrical interconnection works at its manufacturing facility in Turaif.
