Apr 30 2012
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Hail Cement Company announces results of its second extra-ordinary general assembly meeting (2nd time)
Hail Cement Company announces results of its second extra-ordinary general assembly (second time) held on Sunday the 8th Jumad Al-Akhar 1433 corresponding to 29th April 2012, at Chamber of Commerce Office in Hail at 5:30 pm. The meeting decided the following :
1) Approved the Board of Directors report for the period from 30th November 2010 to 31st December 2011.
2)Approved Hail Cement Company 's final accounts and auditors report for the period ending 31st December 2011.
3) Agreed to hold the Board of Directors free from any liabilities for the period ending 31 December 2011.
4) Approved the appointment of Ernst & Young as an external auditors as per the recommendation of the Audit Committee to audit the Companys quarterly and annual accounts for the fiscal year 2012 and agree to their service fees.
5) Approved the charter of Audit Committee
6)Approved the charter of Selection and Remuneration Committee.
7)Approved the procedures in selection of Board of Directors
8)Approved the changes in Article No: 40 of Articles of Association of the Company concerning the voting rights to include the cumulative voting pattern. In selecting board members.
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