| Element List | Explanation |
|---|---|
| Introduction | The Board of Director of Al-Jouf Agricultural Development Company is pleased to announce the results of the 40th Ordinary General Assembly meeting (First meeting) which held at 6:30 pm on Tuesday,09-06-2026G ,after the quorum for the validity of the meeting of the Assembly is present in accordance with the Company's Articles of Association. |
| City and Location of the General Assembly's Meeting | The General Assembly Meeting was held remotely via modern technology |
| Date of the General Assembly's Meeting | 2026-06-09 Corresponding to 1447-12-23 |
| Time of the General Assembly’s Meeting | 18:30 |
| Percentage of Attending Shareholders | 28.79% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following Board members attended the meeting: Eng. Badr Bin Hamed Alaujan (Chairman) Mr. Mohammed Ahmed Yaseen Alshaikh. (Vice Chairman) Mr. Miqad Bin Abdullah Bin Abdulmohsen Alkhamis Mr. Omar Riyad Mohammad AL- humaidan Mr. Ali Riyad Mohammad AL- humaidan The meeting was attended by CEO - Eng. Mazen Bin Abdullah Bin Mohammad Badawood The following Board member was absent from the meeting: Mr. Turki Abdullah Al-jawini |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | The following Chairmen of the Committees attended the meeting: 1- Eng. Badr Bin Hamed Alaujan (Chairman of the Executive committee) 2- Mr. Mohammed Ahmed Yaseen Alshaikh. (Chairman of the Audit Committee) 3- Mr. Miqad Bin Abdullah Bin Abdulmohsen Alkhamis (Chairman of the Nomination and Remuneration Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1- Approval of the External Auditor’s Report for the fiscal year ended 31 December 2025, following its discussion. 2- Review and discussion of the Company’s financial statements for the fiscal year ended 31 December 2025. 3- Review and discussion of the Board of Directors’ Report for the fiscal year ended 31 December 2025. 4- Approval of the appointment of Baker Tilly Professional Services as the external auditor from among the nominated candidates, based on the recommendation of the Audit Committee, to examine, review, and audit the financial statements for the second and third quarters and the annual financial statements for the fiscal year 2026, as well as the first quarter of the fiscal year 2027, for fees amounting to SAR 450,000, excluding VAT. 5- Approval of the payment of SAR 2,500,000 as remuneration to the members of the Board of Directors for the fiscal year ended 31 December 2025. 6- Approval of the discharge of the members of the Board of Directors from liability for the fiscal year ended 31 December 2025. 7- Approval of authorizing the Board of Directors to distribute interim dividends on a quarterly or semi-annual basis for the fiscal year 2026. 8- Approval of delegating to the Board of Directors the authorities of the General Assembly stipulated 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 is earlier, in accordance with the conditions set out in the Implementing Regulations of the Companies Law for listed joint stock companies. 9- Approval of the transactions and contracts concluded during the fiscal year ended 31 December 2025 between the Company and Abdullah Al-Othaim Markets Company, in which the Chairman, Eng. Badr bin Hamed bin Abdulrazzaq Alaujan, has an indirect interest. These transactions represent commercial dealings conducted under normal market terms, consisting of sales of olive oil and pickles amounting to SAR 22,284,288. 10- Approval of the transactions and contracts concluded during the fiscal year ended 31 December 2025 between the Company and the National Company for Biscuit and Confectionery Manufacturing Ltd., in which the Chairman, Eng. Badr bin Hamed bin Abdulrazzaq Alaujan, has an indirect interest. These transactions represent commercial dealings conducted under normal market terms, consisting of sales of raw potatoes amounting to SAR 5,645,288. 11- Approval of the transactions and contracts concluded during the fiscal year ended 31 December 2025 between the Company and the National Glass Industries Company, in which Board member Mr. Omar bin Riyadh bin Mohammed Al-Humaidan has an indirect interest. These transactions represent commercial dealings conducted under normal market terms, consisting of purchases of packaging materials amounting to SAR 2,306,453. 12- Approval of the transactions and contracts concluded during the fiscal year ended 31 December 2025 between the Company and the National Glass Industries Company, in which Board member Mr. Miqad bin Abdullah bin Abdulmohsen Al-Khamis has an indirect interest. These transactions represent commercial dealings conducted under normal market terms, consisting of purchases of packaging materials amounting to SAR 2,306,453. |
Al-Jouf Agricultural Development Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
AI Summary
- Shareholders approved the 2025 financial statements and Board report, discharged Board members from liability, and authorized the Board to distribute interim dividends for fiscal year 2026.
- Approved SAR 2.5 million in remuneration for Board members for the fiscal year ended December 31, 2025.
- Appointed Baker Tilly Professional Services as the external auditor for the 2026 fiscal year and Q1 2027 for a total fee of SAR 450,000 (excluding VAT).
- Ratified several 2025 related party transactions, including SAR 22.3 million in sales to Abdullah Al-Othaim Markets and SAR 5.6 million in sales to the National Company for Biscuit and Confectionery Manufacturing.
