Riyadh – Mubasher: Dallah Healthcare Company has announced the results of its Ordinary General Assembly meeting held on 24 June 2026, where shareholders approved the financial results for the 2025 fiscal year and authorized several significant related-party contracts.
The meeting included the discharge of board members from liability, the appointment of external auditors, and the approval of substantial transactions involving board members and affiliated entities, according to a bourse filing.
During the assembly, shareholders reviewed and discussed the board of directors' report and the financial statements for the 2025 fiscal year as well as the auditor's report for the same period.
A significant portion of the meeting focused on corporate governance and the approval of related-party transactions. One of the most notable items approved was a share purchase agreement involving board member Khalid bin Abdulaziz Al Rayes. The assembly greenlit the acquisition of shares in Dr. Mohammed bin Rashid Al-Fagih and Partners Company for a total value of SAR 497.98 million. Dallah Healthcare currently holds a 31.21% stake in the entity, while Al Rayes holds a 0.12% interest. The company confirmed that the agreement was reached without any preferential terms.
Furthermore, shareholders authorized several contracts involving Board Chairman Tariq bin Osman Al Qasabi. These included administrative consulting services valued at SAR 1.32 million, a technical support agreement with the Technical Company for Technology Localization worth SAR 7.42 million, and financial advisory services through Al Jazira Capital totaling SAR 7.60 million.
In all instances, the board maintained that these transactions were conducted on an arm’s length basis.
The assembly also addressed transactions with Dallah Al Baraka Holding, a major shareholder. Approvals were granted for travel services provided by Dareen Travel and Tourism Agency, amounting to SAR 8.40 million and medical services provided to Dallah Al Baraka valued at SAR 175,011. These items involved Vice Chairman Mohyeddine bin Saleh Kamel and board member Amr bin Mohammed Kamel due to their executive roles within the holding group.
In terms of future financial planning, the assembly granted the board of directors the authority to distribute interim dividends on a semi-annual or quarterly basis for the 2027 fiscal year.
Regarding external oversight, KPMG Al Fozan & Partners was appointed as the company's auditor. The firm will be responsible for reviewing and auditing the financial statements for the second, third, and annual periods of 2026, as well as the first quarter of 2027. The total professional fees for these services were set at SAR 4.01 million excluding VAT.
Finally, the assembly approved the participation of several board members in businesses that compete with the company’s activities. This included Chairman Tariq Al Qasabi and Vice Chairman Mohyeddine Kamel’s roles at the International Medical Center, as well as roles held by former board members at Dr. Mohammed bin Rashid Al Fagih and Partners.
