Alhasoob Elects 4 Members to Board of Directors

Alhasoob Trading Company announced on Tuesday the results of its Ordinary General Assembly meeting (First Meeting), which included the approval of the election of four members to the Board of Directors for the upcoming term, starting on 22 July 2025 and lasting for three years, until 21 July 2028. The elected members are:

1. Mr. Ali Abdul Karim Al-Luhaidan
2. Mr. Azzam Abdulaziz Al-Zaben
3. Eng. Abdullah Mohammed Al-Khuwaiter
4. Eng. Hamad Ibrahim Al-Luhaidan

The voting results for the remaining agenda items were as follows:

1. The Board of Directors’ report for the fiscal year ending 31 December 2024 was reviewed and discussed.
2. Approval of the company’s auditor’s report for the fiscal year ending 31 December 2024, after discussion.
3. The financial statements for the fiscal year ending 31 December 2024 were reviewed and discussed.
4. Approval of the appointment of Al Kharashi & Co. Certified Accountants as the company’s auditors, based on the Audit Committee’s recommendation, to examine, review, and audit the financial statements for the period ending 30 June 2025 and the fiscal year ending 31 December 2025. The total fees are set at SAR 165,000, excluding VAT.
5. Approval to discharge the members of the Board of Directors from liability for the fiscal year ending 31 December 2024.
6. Approval of SAR 130,000 annual remuneration for the Board members for the fiscal year ending 31 December 2024.
7. Approval to authorize the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2025.
8. Approval to delegate authority to the newly elected Board of Directors to issue the license mentioned 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 authorized Board of Directors, whichever is earlier, in accordance with the executive regulations of the Companies Law for listed joint-stock companies.