| Element List | Explanation |
|---|---|
| Introduction | Saudi Company for Hardware (SACO) announces the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 08:00 PM on Wednesday, 17 June 2026, corresponding to 02 Muharram 1448H, through modern technology means |
| City and Location of the General Assembly's Meeting | The company's headquarters in Riyadh - through modern technology. |
| Date of the General Assembly's Meeting | 2026-06-17 Corresponding to 1448-01-02 |
| Time of the General Assembly’s Meeting | 20:00 |
| Percentage of Attending Shareholders | 60.20956% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting was attended by Board members as following: 1- Mr. Sameer Omar Baeasa. 2- Mr. Mohammed Abdullah Al Qatari. 3- Mr. Khaled Mohammed Al Hamidi. 4- Mr. Sameer Mohammed Al Hamidi. 5- Mr. Haytham Mohammed AL Hamidi. 6- Mr. Faisal Al Fuhaid. 7- Mr. Mishal Al Hukair. 8- Mr. Eyad Al Daalouj 9- Mr. Saleh Al Mubarak |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The meeting was attended by the following Chairmen of the Committees: 1- Mr. Loutfi Echhade (Chairman of the Audit Committee). 2-Mr. Mishal Al Hukair (Chairman of N&R Committee). |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | Item One: Voting on the election of the Board of Directors members from among the candidates for the upcoming term, which commences on 20/07/2026 for a duration of three years, expiring on 19/07/2029 The following members were elected: 1- Khalid Mohammed Alhamidi 2- Wael Fouad Jamjoom 3- Rehab Samaual Bakhsh 4- Sameer Mohammed Alhamidi 5- Haytham Mohammed Alhamidi 6- Sakhr Asaad Jamjoom 7- Thamer Mohammed Temairik 8- Ghassan Ahmed Amodi 9- Atef Mahdi Mufti. Item Two: Reviewed the Board of Directors’ report for the financial year ending 31/12/2025 AD and discussed it. Item Three: Reviewed and discussed the Company’s financial statements for the fiscal year ending on 31/12/2025. Item Four: Approval of the Auditor’s Report for the fiscal year ending on 31/12/2025. Item Five: Approval of the appointment of KPMG as auditor of the company’s accounts to examine, review and audit the financial statements for the second quarter, the third quarter, and the annual of the fiscal year 2026 AD, and the first quarter of the fiscal year 2027 AD and determine its fees with the amount of SAR (1,350,000) excluding VAT. Item Six: Approval of authorizing the Board of Directors to distribute interim dividends semi-annually or quarterly for the fiscal year 2026. Item Seven: Approval of paying an amount of SAR 1,800,000 as remuneration to the Board members for the fiscal year ending on 31/12/2025. Item Eight: Approval of the discharge of the members of the Board of Directors for the fiscal year ended 31/12/2025. |
| Additional Information | [For any inquiries, please contact the Investor Relations Department at Tel: 0114993595 Email: investors@saco-ksa.com |
Saudi Company for Hardware Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
AI Summary
- Shareholders elected a new Board of Directors for a three-year term commencing July 20, 2026, and ending July 19, 2029.
- The Board was authorized to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.
- KPMG was appointed as the external auditor for the remainder of 2026 and the first quarter of 2027 for a total fee of SAR 1.35 million.
- The assembly approved a total remuneration of SAR 1.8 million for Board members for the fiscal year ending December 31, 2025.
