May 21: Al Mawarid Assembly Votes on Interim Dividend Distribution for 2025

Al Mawarid Manpower Co. announced on Thursday that its Board of Directors called shareholders to participate and vote in the upcoming Ordinary General Assembly Meeting (First Meeting), scheduled virtually for May 21.

According to the company’s statement on Tadawul, the meeting agenda includes the following items:

1. Reviewing and discussing the Board of Directors’ report for the fiscal year ended December 31, 2024;

2. Voting on the company’s auditor’s report for the fiscal year ended December 31, 2024 after discussing;

3. Reviewing and discussing the financial statements for the fiscal year ended December 31, 2024;

4. Voting on the discharge of the members of the Board of Directors for the year 2024;

5. Voting on the disbursement of an amount of SAR 2,296,000 as remuneration to the members of the Board of Directors for the fiscal year ended December 31, 2024;

6. Voting on appointing the company’s external auditor from among the nominees based on the recommendation of the Audit Committee, to review and audit the financial statements for the second, third, and annual periods of the fiscal year 2025, and the first quarter of the fiscal year 2026, and to determine their fees;

7. Voting on authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2025;

8. Voting on authorizing the Board of Directors with the powers of the Ordinary General Assembly as stated in paragraph (1) of Article 27 of the Companies Law, for a period of one year from the date of the General Assembly’s approval or until the end of the term of the delegated Board of Directors, whichever comes first, in accordance with the conditions set forth in the executive regulations of the Companies Law for listed joint-stock companies;

9. Voting on the transactions and contracts concluded between the company and Al-Ayuni Investment and Contracting Company, in which Board Member Mr. Ahmed bin Mohammed Al-Issa has an indirect interest by virtue of being a member of the Board of Directors of Al-Ayuni Investment and Contracting Company. These transactions involve the provision of manpower services to the related party. The total value of transactions during the year 2024 amounted to SAR 287,873,521 and were conducted under prevailing commercial terms; and

10. Voting on the transactions and contracts concluded between the company and the Limak Al Ayuni Consortium (a joint venture), in which Board Member Mr. Ahmed bin Mohammed Al-Issa has an indirect interest by virtue of being a member of the Board of Directors of Al Ayuni Investment and Contracting Company. These transactions involve the provision of manpower services to the related party. The total value of transactions during the year 2024 amounted to SAR 53,901,914 and were conducted under prevailing commercial terms.