Riyadh - Mubasher: The shareholders of Waja Company approved the appointment of Al Zoman, Al Fahad & Al Hajaj Professional Consulting Company as the external auditor for fiscal year 2026.
Meanwhile, the appointed auditor will also review the company’s financial statements through the first quarter (Q1) of 2027, for fees totaling SAR 355,000 in return for the entire appointment period.
The equityholders also authorized the board of directors to distribute interim dividends to shareholders on a semi-annual or quarterly basis for 2026, according to a bourse filing.
The shareholders also approved the auditor’s report, the board of directors’ report, and the financial statements for 2025. In addition, they granted discharge of liability to board members for the same period.
Shareholders also delegated to the board certain OGM powers under the Companies Law for up to one year or until the end of the board’s term, whichever comes first.
Investment Agreements
The meeting also approved related-party transactions with Water Treatment Works Company, in which Chairman Ibrahim Abdullah Abdulsalam has an indirect interest. The financing-related transactions, which began in 2022, amounted to SAR 501,000 during 2025 and were conducted on prevailing commercial terms without preferential conditions.
Additionally, the stakeholders ratified transactions involving Waja and Chairman Abdulsalam, who has a direct interest in the arrangements. The transactions, initiated in 2023, totaled SAR 8.89 million in debit transactions and SAR 29.42 million in credit transactions during 2025.
Shareholders also approved the Chairman’s participation in a business activity competing with the company’s operations.
Earlier in June 2026, Waja Company signed a non-binding memorandum of understanding (MoU) to acquire a 5% stake in Owtad Al Fahad Company Limited, a Riyadh-based construction and building company.
