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Mohammed Hadi Al-Rasheed & Partners Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Mohammed Hadi Al-Rasheed & Partners Co. is pleased to announce to its esteemed shareholders the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 20:00 on Sunday, 23/11/1447H, corresponding to 10/05/2026G, at the Company's principal headquarters located in Riyadh – Granada District – Dammam Road, via modern technological means (remotely) through Tadawulaty services, following the fulfillment of the legally required quorum for the validity of the meeting. |
| City and Location of the General Assembly's Meeting | The Company's principal headquarters located in Riyadh – Granada District – Dammam Road, via modern technological means (remotely) – using Tadawulaty services. |
| Date of the General Assembly's Meeting | 2026-05-10 Corresponding to 1447-11-23 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 67.72% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1- Mr. Hamad Mohammed Hadi Al-Rasheed - Chairman of the Board 2- Mr. Mohsen Mohammed Hadi Al-Rasheed - Vice Chairman of the Board 3- Mr. Badr Mohammed Hadi Al-Rasheed - Managing Director and Chief Executive Officer 4- Mr. Faris Abdulrahman Ibrahim Al-Faris - Board Member 5- Mr. Al-Abbas Ali Al-Musaed - Board Member |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Mr. Al-Abbas Ali Qaed Ahmed Al-Musaed - Chairman of the Audit Committee 2- Mr. Faris Abdulrahman Ibrahim Al-Faris - Chairman of the Nomination and Remuneration Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approved the external auditor's report for the fiscal year ended 31 December 2025, following deliberation. 2- Reviewed and discussed the Board of Directors' report for the fiscal year ended 31 December 2025. 3- Reviewed and discussed the Company's financial statements for the fiscal year ended 31 December 2025. 4- Approved the discharge of liability of the Board of Directors' members for the fiscal year ended 31 December 2025. 5- Approved the appointment of BKF Al-Bassam Certified Public Accountants and Legal Auditors as the Company's external auditor, selected from among the nominated candidates based on the recommendation of the Audit Committee, to examine, review, and audit the Company's interim financial statements for Q1 ending 31/03/2026, Q2 ending 30/06/2026, Q3 ending 30/09/2026, the annual financial statements ending 31/12/2026, and the interim financial statements for Q1 ending 31/03/2027, at a total fee of SAR 575,000 (Five Hundred and Seventy-Five Thousand Saudi Riyals). 6- Approved the authorization of the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year ending 31 December 2026. 7- Approved the delegation of the Ordinary General Assembly's authority to the Board of Directors, pursuant to Paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of the General Assembly's approval or until the end of the current Board of Directors' term — whichever comes first — in accordance with the conditions set forth in the Implementing Regulations of the Companies Law applicable to listed joint-stock companies. 8- Approved the amendment of the Company's Corporate Governance Policy. 9- Approved the Company's Competition Controls and Standards Policy. 10- Approved the amendment of the Audit Committee's Terms of Reference. 11- Approved the amendment of the Nomination and Remuneration Committee's Terms of Reference. 12- Approved the amendment of the Board of Directors' Membership Policy, Standards, and Procedures. 13- Approved the amendment of the Remuneration Policy and Standards for Board Members, Sub-Committee Members, and Executive Management. 14- Approved the amendment of the Conflict of Interest Policy. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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