Riyadh – Mubasher: Saudi Parts Center Company released an addendum announcement regarding the outcomes of its Ordinary General Assembly Meeting, which follows the initial results published on 24 June 2026.
The company issued this clarification to address omissions in the original announcement concerning specific voting results for key agenda items, ensuring full compliance with the Capital Market Authority’s (CMA) listing rules and corporate disclosure regulations.
The primary purpose of the addendum is to confirm the approval of the third and fourth items on the assembly’s agenda, which were not explicitly detailed in the previous communication. According to the updated disclosure, the shareholders have officially approved the company’s auditor report for the 2025 fiscal year.
This approval came following a comprehensive discussion of the report during the first meeting of the Ordinary General Assembly. The auditor’s report is a critical document for shareholders, as it provides an independent assessment of the company’s financial health and the accuracy of its financial statements.
Furthermore, the addendum clarifies the approval of the fourth agenda item, which pertains to the compensation of the company’s leadership.
The General Assembly has authorized the disbursement of board of directors' remuneration for 2025. The total amount approved for distribution among the board members is SAR 245,000. This payment is standard practice for listed companies, reflecting the compensation for the board's oversight and strategic guidance throughout the previous financial year.
Saudi Parts Center emphasized that the omission of these details in the initial Arabic announcement was an administrative oversight that has now been rectified to maintain transparency with the investing public and regulatory authorities.
The company confirmed that this corrective disclosure carries no financial impact on the organization’s current balance sheet or its ongoing operations. The update serves strictly as a regulatory alignment to provide a complete record of the assembly’s decisions.
The rectification of the General Assembly results ensures that all participants in the Saudi market have access to the full scope of the voting outcomes.
By detailing the approval of the auditor’s report and the specific figure for board remuneration, Saudi Parts Center reinforces its compliance with the governance framework mandated for companies listed on the Tadawul. This addendum completes the official record for the fiscal year 2025 proceedings, providing the necessary finality to the assembly's resolutions.
