| Element List | Explanation |
|---|---|
| Introduction | Riyadh Steel Company announces the results of its Extraordinary General Assembly Meeting (Second Meeting), held at 8:45 PM on Monday, 22/12/1447 AH corresponding to 08/06/2026 AD. The first meeting did not achieve a quorum, and the second meeting was held one hour later, with a 64.60% attendance rate via modern technology. This was after the legal quorum for the Extraordinary General Assembly Meeting (Second Meeting) was met, as stipulated in the company's Bylaws, which requires the presence of shareholders representing at least one-quarter of the company's shares with voting rights. |
| City and Location of the General Assembly's Meeting | Remotely using modern technology |
| Date of the General Assembly's Meeting | 2026-06-08 Corresponding to 1447-12-22 |
| Time of the General Assembly’s Meeting | 20:45 |
| Percentage of Attending Shareholders | 64.60% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The meeting of the Extraordinary Assembly was attended by the following members of the Board of Directors: Mr.Tariq bin Abdulrahman Al-Ghannam – Chairman of the Board of Directors. Mr.Maan bin Hamad Al-Jasser – Vice Chairman of the Board of Directors. Mr.Abdulkarim bin Ibrahim Al-Nafie – Board Member. Mr.Reda Bin Ibrahim Toubar – Board Member. Mr.Abdullah Mohammed Al-Saif – Board Member. The following were absent from the meeting: Mr.Freah Bin Abdullah Al-Shammary – Board Member. Mr.Bassam bin Mohammed Al-Bassam – Board Member. |
| 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 of the Extraordinary General Assembly was attended by the heads of the following committees of the Board of Directors: Mr.Abdullah bin Khalaf Al-Yousef – Chairman of the Audit Committee. Mr.Maan bin Hamad Al-Jasser – Chairman of the Strategic Planning Committee. Mr.Reda Bin Ibrahim Toubar – Chairman of the Nomination and Remuneration Committee. |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1.The Board of Directors' report for the financial year ended 31 December 2025 was reviewed and discussed. 2.The financial statements for the financial year ended 31 December 2025 were reviewed and discussed. 3.Approval of the Company's auditor's report for the financial year ended 31-12-2025 after discussing it. 4.Approval of the discharge of the Board of Directors for the financial year ended 31/12/2025. 5.Approval of the addition of an article to the Company's Articles of Association No. (Thirty-Six) related to (Dividends). 6.Approval of the addition of an article to the Company's Articles of Association No. (Thirty-Seven) related to (Interim Dividends). 7.Approval of the recommendation of the Board of Directors to distribute cash dividends to shareholders for the fiscal year 2025 at the rate of SAR 0.05 per share at a rate of 5% of the capital, with a total amount and capacity of SAR 3,500,000, provided that the eligibility of dividends shall be to the shareholders of the company who own shares at the end of the day of the General Assembly and who are registered in the company's shareholders' register at the Securities Depository Center at the end of the second trading day following the maturity date, and the dividends will be distributed within 15 working days from the maturity date. 8.Approved the Board of Directors' decision to appoint Mr. Bassam bin Mohammed Al-Bassam as an independent member of the Board of Directors starting from the date of his appointment on 19/01/2026 to complete the Board of Directors until the end of the current session on 17/01/2027 to succeed the previous member, Mr. Khalid Al-Yahya - as an independent member. 9.Approved the appointment of Alzoman Alfahad & Alhajjaj professional services as the Company's auditor from among the candidates based on the recommendation of the Audit Committee, in order to examine, review and audit the financial statements for the second, third and annual quarters of the fiscal year 2026 and the first quarter of the fiscal year 2027 with a fee of SAR 315,000. 10.Approval of the Nomination and Remuneration Committee's charter. 11.Approval of policies, standards and procedures of the Board of Directors. 12.Approval of the remuneration and compensation policy of the Board of Directors, its subordinate committees and the executive management. 13.Approval of authorizing the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2026, in the event that the Extraordinary General Assembly approves Item No. 6. |
| Additional Information | NONE |
Riyadh Steel Co. Announces the Results of the Extraordinary General Assembly Meeting (Second Meeting)
AI Summary
- Riyadh Steel Company shareholders approved a cash dividend of SAR 0.05 per share for the 2025 fiscal year, totaling SAR 3,500,000 (5% of capital).
- The Board of Directors was authorized to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.
- Alzoman Alfahad & Alhajjaj was appointed as the company's auditor for the remainder of the 2026 fiscal year and the first quarter of 2027 for a fee of SAR 315,000.
- Shareholders approved the 2025 financial statements, the discharge of Board members for the same period, and the appointment of Mr. Bassam bin Mohammed Al-Bassam as an independent director.
