IssuerAnnouncementDetailsV2Portlet
Actions
Mohammed Hadi Al Rasheed and Partners Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Mohammed Hadi Al-Rasheed & Partners is pleased to announce to its shareholders the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 20:00 on Thursday, 10/11/1446H, corresponding to 08/05/2025G, at the company’s headquarters located in Riyadh – Granada District – Dammam Road, through modern technology means (remotely) via Tadawulaty services, after the quorum for the validity of the meeting was met. |
| City and Location of the General Assembly's Meeting | At the company’s main headquarters located in Riyadh - Granada District - Dammam Road - using modern technology (remotely) - using Tadawulati services. |
| Date of the General Assembly's Meeting | 2025-05-08 Corresponding to 1446-11-10 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 67.56% |
| 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- Approval of the company’s auditor’s report for the fiscal year ended December 31, 2024, after discussing it. 2- Review and discuss the Board of Directors’ report for the fiscal year ending December 31, 2024. 3- Review and discuss the company’s financial statements for the December 31, 2024, fiscal year. 4- Approval of discharging the members of the Board of Directors from liability for the fiscal year ended December 31, 2024. 5- Approval of the appointment of BKF Al Bassam – Accountants and Auditors as the company's auditor from among the nominees, based on the recommendation of the Audit Committee, to examine, review, and audit the company’s interim financial statements for the first half ended June 30, 2025, and the annual financial statements ended December 31, 2025, with fees amounting to SAR 360,000 (Three Hundred Sixty Thousand Saudi Riyals). 6- Approval of authorizing the Board of Directors to distribute interim dividends to shareholders semi-annually or quarterly for the fiscal year ending December 31, 2025. 7- Approval of authorizing the Board of Directors with the powers of the Ordinary General Assembly as per the authorization stated in 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 term of the authorized Board of Directors, whichever is earlier, in accordance with the conditions stated in the Executive Regulations of the Companies Law for listed joint-stock companies. 8- Approval of the Board of Directors' recommendation to distribute cash dividends amounting to SAR 24,000,000 (Twenty-Four Million Saudi Riyals) to the shareholders for the fiscal year ended December 31, 2024, at SAR 2 per share, representing 20% of the capital. The entitlement will be for shareholders holding shares by the end of the trading day of the General Assembly meeting and registered in the company's shareholders' register at the Securities Depository Center (Edaa) by the end of the second trading day following the entitlement date. The distribution of dividends will commence by transferring them to the accounts linked to the shareholders' portfolios starting from Thursday, 17/11/1446H, corresponding to 15/05/2025G, through automatic deposit in the investment accounts linked to the shareholders' portfolios at all banks via the First Saudi Bank. In case of any deposit issues, shareholders can contact the company via email at sarah@alrasheedco.com.sa or via phone at 0590304664. |
| Additional Information | The company would like to draw the attention of non-resident foreign investors to the fact that cash dividends transferred through the resident financial intermediary are subject to a withholding tax of 5%, in accordance with the provisions of Article (68) of the Tax Law and Article (63) of its Executive Regulations. The company urges its esteemed shareholders to update their information and ensure that their bank account numbers are linked to their investment portfolios to guarantee the timely receipt of their dividends. For any inquiries, please contact us via email at sarah@alrasheedco.com.sa or via phone at 0590304664. |
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.
Share
Company Performance
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions