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Shalfa Facilities Management Co. Announces the Results of the Extraordinary General Assembly Meeting (First Meeting)
| Element List | Explanation |
|---|---|
| Introduction | Shalfa Facilities Management Company announces to its shareholders the results of the Extraordinary General Assembly Meeting (First Meeting), which was held at 8:15 PM on Thursday, 01/01/1447H corresponding to 26/06/2025, at the company’s headquarters located in Riyadh – Al Rabea District – Abu Bakr As-Siddiq Branch Road, through modern technology means via Tadawulaty services, after the legal quorum was attained for the meeting to be valid. |
| City and Location of the General Assembly's Meeting | At the Company’s headquarters located in Riyadh – Al Rabea District – Abu Bakr As-Siddiq Branch Road, via modern technology means (remotely) through Tadawulaty services. |
| Date of the General Assembly's Meeting | 2025-06-26 Corresponding to 1447-01-01 |
| Time of the General Assembly’s Meeting | 20:15 |
| Percentage of Attending Shareholders | 85.88% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Abdullah Mohammed Abdullah Al-Ibrahim – Chairman of the Board 2. Mr. Fahad Mohammed Abdullah Al-Ibrahim – Vice Chairman of the Board and Chief Executive Officer 3. Mr. Sultan Abdulaziz Hamad Al-Mudabel – Board Member 4. Mr. Saad Musaed Abdulrahman – 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. Basel Salman Al-Salman – Chairman of the Audit Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval of the auditor’s report for the fiscal year ending 31 December 2024, after discussion. 2. Review and discussion of the Board of Directors’ report for the fiscal year ending 31 December 2024. 3. Review and discussion of the company’s financial statements for the fiscal year ending 31 December 2024. 4. Approval to discharge the Board members from liability for the fiscal year ending 31 December 2024. 5. Approval of the appointment of Maham Professional Consultation Co. as the company’s external auditor, based on the recommendation of the Audit Committee, to review and audit the annual financial statements for the year ending 31 December 2025 and the semi-annual financial statements for the period ending 30 June 2025, for a total fee of SAR 375,000. 6. Approval to authorize the Board of Directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for the fiscal year ending 31 December 2025. 7. Approval to authorize the Board of Directors with the powers of the Ordinary General Assembly as stipulated in paragraph (1) of Article 27 of the Companies Law, for one year from the date of the General Assembly’s approval or until the end of the current Board term, whichever comes first, in accordance with the Implementing Regulations for Listed Joint Stock Companies. 8. Approval of related party transactions between the company and Shalfa International Facilities Management, in which the Chairman and Vice Chairman have indirect interests. These include payments on behalf of the company and fund transfers. The total transaction value in 2024 was SAR 21,894,733. 9. Approval of related party transactions between the company and Shalfa International Security Services, in which the Chairman and Vice Chairman have indirect interests. These include payments, transfers, and shared services. The total transaction value in 2024 was SAR 7,545,447. 10. Approval of related party transactions between the company and Madfu Ltd. in which the Chairman has an indirect interest, for payments made on behalf of the company. The total transaction value in 2024 was SAR 3,292. 11. Approval of related party transactions between the company and Mr. Mohammed Abdullah Al-Ibrahim, in which the Chairman and Vice Chairman have indirect interests, including lease payments and shareholder contributions. The total transaction value in 2024 was SAR 4,235,594. 12. Approval of related party transactions between the company and Bayt Al-Khebra Engineering Consultancy, in which the Chairman has an indirect interest, for shared services. The total transaction value in 2024 was SAR 58,000. 13. Approval of the amended Policy and Standards for Remuneration of Board Members, Committees, and Executive Management. 14. Approval of the amendment to Article (13) of the Company’s Articles of Association concerning Share Trading. 15. Approval of the deletion of Article (14) of the Company’s Articles of Association concerning the Shareholders' Register. 16. Approval of the deletion of Article (44) of the Company’s Articles of Association concerning Passing Resolutions by Circulation. |
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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