Riyadh – Mubasher: The shareholders of Alhasoob Trading Company approved the financial performance for the 2025 fiscal year and granted the Board of Directors the authority to distribute interim dividends for the 2026 fiscal year.
The Ordinary General Assembly meeting was held on 15 June 2026, where shareholders reviewed and discussed the Board of Directors' report and the company’s financial statements for 2025, according to a bourse filing.
Following these discussions, the assembly officially approved the auditor's report for the 2025 period.
In a move to ensure continued financial oversight, the General Assembly approved the appointment of RSM Allied Accountants Professional Services as the company’s external auditor. Selected from among candidates recommended by the Audit Committee, the firm will be responsible for examining and auditing the financial statements for the second quarter (Q2) of 2026 and the full fiscal year ending 31 December 2026. The professional fees for these services were set at SAR 155,000 excluding Value Added Tax (VAT).
Governance and compensation matters were also addressed during the meeting. Shareholders voted to discharge the members of the Board of Directors from liability regarding their management of the company during the 2025 fiscal year.
Furthermore, the assembly approved a total remuneration of SAR 130,000 for board members for the 2025 period.
A significant outcome of the meeting was the authorization granted to the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.
This delegation provides the board with the flexibility to manage shareholder returns in alignment with the company’s liquidity and financial performance throughout the year.
The assembly also reviewed and ratified related-party transactions. Specifically, shareholders approved contracts involving Chairman Hamad Ibrahim Al Lohaidan related to the purchase of devices. These transactions, which totaled SAR 60,638 in 2025, were conducted within the ordinary course of business under prevailing commercial terms without any preferential conditions.
Finally, the shareholders approved the delegation of the General Assembly’s powers, as stipulated in Paragraph 1 of Article 27 of the Companies Law, to the Board of Directors. This authorization is valid for one year from the date of approval or until the end of the current board cycle, whichever comes first, in accordance with the regulatory requirements for listed joint-stock companies.
The successful conclusion of the meeting reflects the company’s adherence to regulatory transparency and its commitment to maintaining robust corporate governance standards as it moves into the 2026 fiscal period.
