| Element List | Explanation |
|---|---|
| Introduction | Al Rashid Industrial Company Announces the Results of the Extraordinary General Assembly Meeting (First Meeting), Including the Approval of the Company's Capital Increase |
| City and Location of the Extraordinary General Assembly's Meeting | The Company’s Head Office in Riyadh / Via modern technology means |
| Date of the Extraordinary General Assembly's Meeting | 2026-06-17 Corresponding to 1448-01-02 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 86.72 % |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | 1. Mr. Fahad bin Abdulaziz bin Mohammed Al Rashid Al Humaid – Chairman of the Board of Directors 2. Mr. Abdullah bin Sulaiman bin Fahad Al Essa – Vice Chairman of the Board of Directors 3. Mr. Mohammed bin Abdulaziz bin Mohammed Al Rashid Al Humaid – Managing Director and Board Member 4. Mr. Waleed bin Hamad bin Mohammed Al Rashid Al Humaid – Board Member 5. Mr. Ahmed bin Abdulrahman bin Abdulaziz Al Mohsen – Board Member |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Names of Those Attending on their Behalf | Mr. Ahmed bin Abdulrahman bin Abdulaziz Al Mohsen – Chairman of the Audit Committee Mr. Abdullah bin Sulaiman bin Fahad Al Essa – Chairman of the Remuneration and Nomination Committee Mr. Waleed bin Hamad bin Mohammed Al Rashid Al Humaid – Chairman of the Executive Committee |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Review and approval of the Board of Directors’ report for the financial year ended 31 December 2025G, and discussion thereof 2. Review and approval of the Company’s financial statements for the financial year ended 31 December 2025G, and discussion thereof 3. Review and approval of the Company’s external auditor’s report for the financial year ended 31 December 2025G, and discussion thereof 4. Approval of the appointment of PKF Al Bassam Chartered Accountants as the Company’s external auditor from among the candidates, based on the recommendation of the Audit Committee, to examine, review, and audit the semiannual and annual financial statements for the financial year 2026, with audit fees amounting to SAR 305,000 5. Approval of the transactions and contracts entered into between the Company and Al Rashid Plastic Containers and Products Establishment, in which the Managing Director, Mr. Mohammed Abdulaziz Mohammed Al Rashid Al Humaid, has a direct interest, and the Chairman, Mr. Fahad Abdulaziz Mohammed Al Rashid Al Humaid, has an indirect interest. These transactions, which amounted to SAR 10,467,819 during the financial year ended 31 December 2025G, relate to the sale of the Company’s products to Al Rashid Plastic Containers and Products Establishment (a sole proprietorship) based in Dubai, United Arab Emirates, and were conducted without any preferential terms 6. Approval of the payment of an amount of SAR 1,149,726 as remuneration for the members of the Board of Directors for the financial year ended 31 December 2025G 7. Approval of the discharge of liability of the members of the Board of Directors for the financial year ended 31 December 2025G 8. Approval of the Board of Directors’ recommendation to increase the Company’s capital through the issuance of bonus shares as follows: - Capital before increase: SAR 80,000,000 (eighty million Saudi Riyals) - Capital after increase: SAR 120,000,000 (one hundred and twenty million Saudi Riyals) - Number of shares before increase: 8,000,000 shares - Number of shares after increase: 12,000,000 shares - Percentage of increase: 50% - The increase will be funded through the capitalization of SAR 40,000,000 (forty million Saudi Riyals) from retained earnings, by granting one (1) bonus share for every two (2) shares held - Eligibility for the bonus shares will be for shareholders holding shares on the date of the Extraordinary General Assembly and registered in the Company’s shareholders register with the Securities Depository Center (Edaa) at the end of the second trading day following the entitlement date - In case of fractional shares, all fractions will be aggregated into one portfolio for all shareholders and sold at market price, with the proceeds distributed proportionally among entitled shareholders, according to each shareholder’s holding, within a period not exceeding 30 days from the date of determining the eligible shares Amendments to Article (7) of the Company’s Articles of Association relating to capital Amendments to Article (8) relating to subscription for shares 9. Election of Board members from among the nominees for the upcoming term, commencing on 02/07/2026G for a period of three (3) years ending on 01/07/2029G, whereby the following members were elected: • Mr. Fahad Abdulaziz Mohammed Al Rashid Al Humaid • Mr. Mohammed Abdulaziz Mohammed Al Rashid Al Humaid • Mr. Abdullah Sulaiman Fahad Al Essa • Mr. Ahmed Abdulrahman Abdulaziz Al Mohsen • Mr. Mohammed Hamad Al Rashid Al Humaid 10. Approval of delegating authority to the Board of Directors to distribute interim dividends for the financial year 2026, with such authorization being effective for both the current Board and the newly elected Board for the next term 11. Approval of amendments to the Company’s Corporate Governance Regulations 12. Approval of amendments to the Nomination and Remuneration Committee Charter 13. Approval of amendments to the Audit Committee Charter 14. Approval of the Board of Directors’ Charter 15. Approval of the Board Membership Policy and Criteria 16. Approval of the General Policy for remuneration of Board members and its committees |
| Additional Information | NA |
Al Rashid Industrial Co. Announces the Results of the Extra Ordinary General Assembly’s Meeting Approving Increase ( First Meeting )
AI Summary
- Shareholders approved a 50% capital increase from SAR 80 million to SAR 120 million through the issuance of bonus shares.
- The increase involves granting one bonus share for every two shares held, funded by capitalizing SAR 40 million from retained earnings.
- A new Board of Directors was elected for a three-year term starting July 2, 2026, with authorization granted to distribute interim dividends for the 2026 financial year.
- The assembly approved the 2025 financial statements and related party transactions with Al Rashid Plastic Containers and Products Establishment totaling SAR 10,467,819.
