Halwani Bros. announces shareholder approval of related-party transaction

Halwani Bros. Co. announced on Thursday that its Extraordinary General Assembly (First Meeting) approved a related-party transaction concluded during the fiscal year ending 31 December 2024 between the company and Dallah Taibah Hotel.

The company stated that its Chairman, Eng. Abdulaziz M. Yamani (non-executive), holds an indirect interest in the transaction.

The transaction involved the sale of finished goods to Dallah Taibah Hotel, valued at SAR 117,469. Halwani Bros. confirmed that the agreement is of indefinite duration and was executed without any preferential terms.