Riyadh – Mubasher: Saudi Cement Company has issued a formal notification to its shareholders, urging those holding physical paper stock certificates to deposit them into electronic investment portfolios, according to a bourse disclosure.
The directive is aligned with the regulatory framework established by the Capital Market Authority (CMA), aiming to modernize shareholder records and facilitate more efficient corporate actions.
Simultaneously, the company has requested that investors review their records for any unclaimed dividend payments from previous fiscal years.
The transition from physical certificates to electronic book-entry records is a critical step in the ongoing digitalization of the Saudi capital market.
Saudi Cement has instructed shareholders still in possession of paper certificates to visit a local bank or a licensed financial brokerage firm to initiate the deposit process. This procedure ensures that shares are correctly reflected in the central depository system managed by the Securities Depository Center Company (Edaa).
To facilitate this transition, the cement manufacturer has provided a comprehensive deposit form that requires specific data points to be completed.
Shareholders must provide personal identification details, including a valid National ID or Iqama, and specific information regarding the certificates, such as the number of shares and the 11-digit certificate account number.
Meanwhile, for those acting on behalf of others, a valid power of attorney and the representative’s identification are mandatory.
The company emphasized that the deposit form must be accurate and complete to avoid processing delays. Under the terms and conditions outlined in the disclosure, Edaa reserves the right to reject any applications containing illegible data or missing documentation.
Furthermore, the applicant assumes full legal responsibility for the accuracy of the information provided and for verifying the true ownership of the shares being deposited.
In addition to the digitalization of shares, Saudi Cement is prioritizing the settlement of outstanding financial obligations to its investors. The company has invited shareholders to verify if they have any uncollected dividends by visiting the official Saudi Cement website.
Within the Investor Relations section, a dedicated portal for Unclaimed Cash Dividends allows users to search for outstanding payments using various identification options.
For shareholders requiring further assistance or those dealing with complex cases—such as deceased shareholders or the distribution of an estate—the company has established multiple communication channels.
Specific documentation, such as inheritance certificates or notarized estate division documents, will be required for these specialized transactions to ensure legal compliance and the protection of shareholder rights.
The initiative by Saudi Cement reflects a broader push within the Saudi Arabian financial sector to enhance transparency and operational efficiency.
By encouraging the conversion of physical certificates into digital assets, the company is ensuring that its shareholder base can seamlessly participate in market trading and receive future corporate distributions. The call to claim past dividends further underscores the company’s commitment to shareholder governance and the fulfillment of its fiduciary responsibilities to its investors.
