Introduction
Osool & Bakheet Investment Company announces the results of the Ordinary General Assembly Meeting (the first meeting), which was held at 19:30 PM, 30-06-2026 through modern technology means. This is after the legal required quorum for the meeting was completed.
Meeting Details
- City and Location of the General Assembly’s Meeting: In the city of Riyadh via modern technology means.
- Date of the General Assembly’s Meeting: 30/06/2026
- Time of the General Assembly’s Meeting: 19:30 PM
- Percentage of Attending Shareholders: 72.09442%
Names of the Board of Directors’ Members Present at the General Assembly’s Meeting and Names of the Absentees
Names of the Board Members present at the Assembly:
- Mr. Abdullah AlKhorayef – Chairman
- Mr. Abdulrahman AlYahya – Vice Chairman
- Mr. Beshr Bakheet – Member
- Mr. Khalid AlMousa – Member
- Mr. Mazin AlDawood – Member
The following Board Members apologized for not attending the meeting due to personal circumstances on the date of the meeting:
- Mr. Wael AlSerhan – Member
Names of the Chairmen of the Committees Present at the General Assembly’s Meeting or Members of such Committees Attending on their Behalf
Audit Committee
- Mr. Khalid AlMousa – Chairman
- Mr. Abdulrahman AlYahya – Member
Risk Committee
- Mr. Khalid AlMousa – Chairman
- Mr. Abdulrahman AlYahya – Member
Nomination and Remuneration Committee (NORCOM)
- Mr. Beshr Bakheet – Member
- Mr. Abdullah AlKhorayef – Member
Voting Results on the Items of the General Assembly’s Meeting
- Reviewed and discussed the Board of Directors’ report for the fiscal year ended 31/12/2025.
- Reviewed and discussed the financial statements for the fiscal year ended 31/12/2025.
- Approved the external auditor’s report for the fiscal year ended 31/12/2025 after discussion.
- Approved the discharge of the Board members from liability for the fiscal year ended 31/12/2025.
- Approved the appointment of (Baker Tilly MKM & Co) as the Company’s external auditor from among the nominated firms, based on the recommendation of the Audit Committee, to review and audit the semi-annual and annual financial statements for the fiscal year 2026, and to determine their fees which amount to 485,000 SAR (excluding VAT).
- Approved the disbursement of an amount of SAR 102,000 as a remuneration for the Board members for the fiscal year ended 31/12/2025.
- Approved delegating 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 delegated Board’s term, whichever comes first, in accordance with the regulatory conditions stated in the implementing regulations of the Companies Law applicable to listed joint-stock companies.
