Riyadh – Mubasher: Alshehili Company for Metal Industries announced the shareholders’ approval for the 2025 financial results and authorization of several significant related party contracts, according to a bourse filing.
The company held its Ordinary General Assembly meeting on 17 June 2026, during which the investors agreed to the appointment of external auditors and the delegation of authority to the Board of Directors regarding future dividend distributions.
A primary focus of the meeting was the review and ratification of the company’s financial performance for the fiscal year ended on 31 December 2025.
Shareholders formally approved the Board of Directors’ report, the independent auditor’s report, and the annual financial statements.
Following these reviews, the assembly granted a discharge of liability to the board members for their management during the 2025 fiscal period.
Furthermore, the assembly approved a total remuneration of SAR 140,417 for the board members for the same year and adopted a comprehensive remuneration policy for the board, its sub-committees, and the executive management.
Significant attention was given to the disclosure and approval of several related party transactions involving companies where Chairperson Hala Alshehili and CEO Mohammed Alshehili hold indirect interests.
The assembly ratified these contracts, noting they were conducted without preferential terms. The most substantial of these agreements included labor leasing services from Alshehili Engineering Industries valued at SAR 7.14 million and labor leasing from Mix Stone Contracting Factory totaling SAR 4 million.
Other approved transactions with Alshehili Engineering Industries included a 10-year lease for factory land and buildings at an annual rate of SAR 550,000 and a contract for employee benefits and rental services worth SAR 276,289.
Additionally, the assembly cleared material purchases from National Resin for Chemical Materials amounting to SAR 3.98 million, material purchases from Alamath Al Izdihaar Trading at SAR 92,412 in addition to employee benefit services from Mix Stone Contracting Factory valued at SAR 157,944.
Looking toward future governance and operations, the assembly authorized the Board of Directors to exercise the powers of the General Assembly as stipulated in the Companies Law for a period of one year.
Shareholders also empowered the board to distribute interim dividends on a semi-annual or quarterly basis for the 2027 fiscal year, providing the company with flexibility in its capital return strategy.
Regarding the company’s external oversight, the assembly approved the appointment of Maham Professional Consulting as the company’s auditor.
Based on the Audit Committee's recommendation, the firm will be responsible for examining and auditing the semi-annual and annual financial statements for the fiscal year ending 31 December 2026. The professional fees for these services were set at SAR 350,000 excluding value-added tax.
The meeting concluded with the formal adoption of all items on the agenda, ensuring the company's regulatory compliance and operational continuity for the upcoming fiscal periods.
It is worth noting that Alshehili recently received a purchase order worth SAR 11.78 million from the listed Almarai Company.
