Munawla Elects New Board; Rejects 2024 Board Discharge

Munawla Cargo Co. said on Sunday that shareholders elected five members to the Board of Directors for the new term starting July 5, 2025, and ending July 4, 2029.

The newly elected members are:

• Mr. Khaled Mohammed Saqr Al-Saqer

• Mr. Ali Abdullah Mohammed Al-Habdan

• Mr. Abdul Salam Khaled Mohammed Al-Saqer

• Mr. Abdul Rahman Mohammed Saleh Al-Misnad

• Mr. Abdullah Ali Abdullah Al-Habdan

Other outcomes of the Extraordinary General Assembly Meeting included:

• Approval of FY2024 auditor’s report and financials

• Rejection of the discharge of the Board for FY2024

• Appointment of Sultan Ahmed Al-Shubaili & Co. as auditor for FY2025 and H1 2026, with total fees of SAR 185,000

• Authorization of interim dividend distribution for FY2025

• Approval to transfer SAR 2.74 million in statutory reserves to retained earnings

• Approval of amendments to the Board and executive remuneration policy