Najran Cement Appoints RSM Auditor, Approves Interim Dividends

Najran Cement Company (3002) announced the results of its Ordinary General Assembly meeting (second meeting) held on June 25, 2026 via modern technology from its headquarters in Najran. Shareholder attendance reached 22.3% after the first meeting lacked quorum.

Key Decisions

Shareholders approved the appointment of RSM United Accountants Co. as external auditor for the 2026-2027 fiscal year at a fee of 475,000 Saudi riyals (excluding VAT). They also authorized the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for fiscal year 2026.

However, the assembly rejected the auditor's report for the financial year ended December 31, 2025, and declined to delegate certain powers to the Board of Directors as per the company's bylaws.

Context

The second meeting was necessary after the first failed to achieve the required quorum. Appointing a new auditor is a key governance step, especially given the rejection of the previous auditor's report.

What This Means for Investors

The decisions signal a focus on governance and transparency, but the rejection of the previous auditor's report may indicate accounting disagreements or issues requiring further scrutiny. Investors should monitor upcoming financial reports for potential impacts.