Najran Cement shareholders reject proposed agenda items

Logo of Najran Cement Co.

Najran Cement Co. shareholders rejected, during an ordinary general meeting (OGM), delegating the board of directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for 2026, according to a statement to Tadawul.

In addition, shareholders also rejected the auditor’s report for the year ended Dec. 31, 2025, as well as the appointment of an auditor from among the nominees based on the Audit Committee’s recommendation to review the financial statements for Q2, Q3, and annual FY2026, in addition to Q1 2027, and to determine their fees.

The OGM further rejected approval of several related party transactions for 2026, including sales of cement to Yal Arabian Company for Industry, Trade and Contracting Co. worth SAR 12.5 million, and sales to Almasane Alkobra Mining Co. (AMAK) worth SAR 6 million, both at standard market terms.

The OGM furthur rejected a related transaction between Wasl Al-Janoub Land Transport Co., a subsidiary of Najran Cement, and AMAK involving land transport services worth SAR 8 million.

Following the rejection, board members Majed Musallam and Ali Hussain Al Yami withdrew their requests for the transactions in accordance with Article 67(b) of the Implementing Regulations of the Companies Law for listed joint-stock companies.

The company also noted that the board’s report and the financial statements for the year ended Dec. 31, 2025 were reviewed during the meeting.