Al Kuzama Approves Related Party Transactions and FY2024 Reports

Al Kuzama Trading Co. announced on Sunday the outcomes of its Ordinary General Assembly Meeting (First Meeting), during which shareholders approved several key items related to fiscal year 2024, including:

• Approval of the Board and auditor reports, financial statements, and Board discharge from liability.

• Appointment of Maham Professional Consulting Co. as external auditor for H1 and FY2025, with total fees of SAR 415,000.

• Delegation of Ordinary General Assembly powers to the Board for one year, per Article 27 of the Companies Law.

The meeting also approved business and contracts with related parties, including:

• Osool Al-Hayat Trading Co.: Transactions totaling SAR 1.26 million.

• Al-Hayat Investment Co.: Sales of SAR 1,201 and payments of SAR 25,000.

• Direct transactions with Chairman, Vice Chairman, CEO, and board members, all conducted under normal market terms without preferential treatment.

• Subsidiaries Jamrat Al-Sharq Co. and Riyada Al-Tamayuz Co.: Contracts valued at SAR 400,000 and SAR 17.3 million, respectively.